Gabriel, vice president of marketing for Big Screen Televisions, wants the company to offer a DVD player, a product the company doesn't offer now. He thinks that the firm has many brand-loyal customers who would buy it. According to Igor Ansoff's Product-Market Matrix, this is an example of the ________ strategy.

As Gabriel, vice president of marketing for Big Screen Televisions, wants the company to offer a DVD player, a product the company doesn't offer now. He thinks that the firm has many brand-loyal customers who would buy it. According to Igor Ansoff's Product-Market Matrix, this is an example of the product development strategy. According to Ansoff's Product-Market Matrix, when one organization wants to increase it sales with the help of offering new product to the already existing customers then it is engaged in product development strategy. Company try to create and invent new products but do not go for finding new customers for its new products. They think that their already existing customers would be enough in order to generate required number of sales.