If you were the CEO of a company that was looking to implement strategies to fill a perceived strategic-planning gap, you would most likely explore ________ strategy first because it is easier to improve an existing business than to build a new one.
A) market-penetration
B) market-development
C) diversification
D) product-development
E) exclusive

Question

Quizplus · Accepted Answer

Market-penetration strategy involves increasing sales of existing products in existing markets. It is easier to improve an existing business by increasing sales and market share than to build a new business from scratch. Therefore, it would be the first choice to explore when trying to fill a perceived strategic-planning gap.

If You Were the CEO of a Company That Was