A company's increasing its sales in a particular market without modifying its products is referred to as ________.
A)market development
B)market differentiation
C)market penetration
D)product development
E)diversification

Question

Quizplus · Accepted Answer

Market penetration is the strategy of increasing a company's sales in a particular market without modifying its products. It involves increasing market share by gaining more customers or increasing the usage of the products by existing customers through promotions, advertising, or other marketing initiatives. Market development (A) involves introducing existing products into new markets or geographies. Market differentiation (B) involves modifying the products or services to differentiate them from competitors. Product development (D) refers to introducing new products or improving existing ones. Diversification (E) is a strategy of entering into new markets or product categories that are different from the company's current offerings.

A Company's Increasing Its Sales in a Particular Market Without