CANON BEGAN AS A CAMERA-MAKING COMPANY BUT HAS SINCE BECOME A COMP...
28. Canon began as a camera-making company but has since become a company that produces a wide
range of office equipment in addition to cameras. Canon’s managers evidently believe in growth
through:
a. market penetration
b. diversification
c. product development
d. market development
e. market integration
ANS: B
Diversification is defined as strategy of increasing sales by selling new products to a new market.
PTS: 1
REF: 27-28
OBJ: 02-3
TOP: AACSB Reflective Thinking
KEY: CB&E Model Strategy
MSC: BLOOMS Level III Application