Seeking products or services that have been successful in one market and introducing the same basic product or service in another segment of the market is referred to as new entry.

Imitative new entry

Explanation:

This is called imitative new entry. There are business imitators who are interested in capitalizing on existing and proven success in the business venture they want to enter.

It is used by entrepreneurs who have seen business success in a particular business line and then they go ahead to introduce the same service or product in a different segment of the market. Entrepreneurs use this when they think are better equipped to do a job than the already existing competitor.

Seeking products or services that have been successful in one market and introducing the same basic product or service in another segment of the market is referred to as new entry

urban company reports the following information regarding its production cost: units produced 37,000 units direct labor $ 30 per unit direct materials $ 35 per unit variable overhead $ 237,000 in total fixed overhead $ 127,000 in total