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