Which strategy seeks to increase market share of present products or services in present markets through greater marketing efforts?

Question

Quizplus · Accepted Answer

Market penetration is a strategy that aims to increase market share through greater marketing efforts, such as advertising or promotions, to attract more customers to purchase existing products or services in existing markets. Option B, Forward integration, involves acquiring or controlling distributors or retailers. Option C, Market development, seeks to introduce existing products or services to new markets. Option D, backward integration, involves acquiring or controlling suppliers. Option E, Product development, seeks to introduce new products or services to existing markets. Therefore, the best choice in this scenario is A, Market Penetration.

Which Strategy Seeks to Increase Market Share of Present Products