Many people enjoy cereal at breakfast. In terms of "profit enhancement options" alternatives, cereal manufacturers who promote cereal as a great late-night snack to this group would be using a________ strategy.

Question

Quizplus · Accepted Answer

Market penetration strategy aims to increase sales of existing products to existing markets, and promoting cereal as a late-night snack to cereal lovers is an example of this strategy. It is not diversification (introducing new products to new markets), differentiation (creating unique products to stand out from competitors), or product development (introducing new products to existing markets).

Many People Enjoy Cereal at Breakfast