_____ include activities such as increasing market share and increasing product usage.

Question

Quizplus · Accepted Answer

Market penetration strategies aim to increase the market share of existing products or increase product usage among current customers. This can be achieved by increasing advertising, reducing prices or improving the product features to attract more customers. Market development strategies involve finding new ways to expand markets for existing products whereas product development strategies involve creating new products or enhancing existing ones to meet consumer demands better. Diversification strategies refer to entering new markets with new products, which may not be directly related to existing products or markets.

_____ Include Activities Such as Increasing Market Share and Increasing