When a company expands in its existing markets, it is called growth through __________.
A) retrenchment
B) diversification
C) concentration
D) globalization

Question

Quizplus · Accepted Answer

Concentration refers to growth through expanding in existing markets by increasing market share or introducing new products/services to current customers. This can be achieved through marketing campaigns, product improvements, or more aggressive pricing strategies. Retrenchment refers to shrinking the business to cut costs and improve profitability, diversification refers to expanding into new markets or industries, and globalization refers to expanding operations into international markets.

When a Company Expands in Its Existing Markets, It Is