EcoBean, a chain of cafes, has introduced a Special Shopper Card that allows customers to pay in advance for coffee and snacks. This effort by EcoBean management is most likely an example of . Group of answer choices diversification market development product adaptation market penetration product development

The exchange of products that occurs as a response of buyers and sellers coming into touch with one another, either directly or through intermediary agents or agencies, is referred to as a market.

The correct to the blank is Market penetration

Market development is a process in which an item penetrates a certain market. The expanding volume of sales indicates how far the market has been entered.

EcoBean made the decision to market - entry by creating a new product extension. People who pay with their credit cards are in a different market than those who buy with cash. They are entering the field of digital consumers in contrast to on-hand buying clientele.

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Market penetration

Explanation:

Market penetration is a phenomenon which a certain market is penetrated through the product. The increasing number of sales shows how far is the market penetrated.

EcoBean decided to enter into a different market by developing a new product extension. People who pay online is a separate market from people who pay cash. In addition to on hand paying customers, they are penetrating the market of online payers.

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