Question

Howard Schultz recognized a business model of bringing social interactions into cafes, successful in one market (Italy). He decided to introduce a similar business model in another market (USA). This could be referred to as:

a) New entry
b) Market expansion
c) Globalization
d) Market saturation

Answer 1

Market expansion

Step-by-step explanation:

This could be referred to as market expansion. Howard Schultz recognized the success of a business model that brought social interactions into cafes in Italy and decided to introduce a similar model in the USA. Market expansion refers to entering new markets with an existing product or service. In this case, Schultz is expanding the business model from one market (Italy) to another (USA).