Market development strategy.

Ryan has inherited the family crab shack restaurant on the boardwalk in Wildwood. The restaurant is a small, local institution that beach visitors have been coming to for decades. They are open from 9am- 10pm. Ryan wants to grow his business and is considering either a market penetration or market development strategy.

Discuss both strategies in terms of how Ryan will grow his business with either strategy. Which strategy will you recommend to Ryan?

Sample Solution