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 a(n)________ 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 market share for existing products in existing markets. By focusing on improving the existing business, it can help fill the perceived strategic-planning gap without having to build a new business from scratch. This approach is typically more cost-effective and less risky than trying to launch new products or enter new markets.

If You Were the CEO of a Company That Was