Making more sales to current customers without changing a firm's products is known as ________.
A) market segmentation
B) market penetration
C) product diversification
D) product development
E) prospecting

Question

Quizplus · Accepted Answer

Market penetration is a strategy where a company aims to increase its sales of existing products to its current customer base without changing the products themselves. This approach involves finding new ways to reach out to existing customers, such as through targeted marketing campaigns or offering loyalty programs, in order to encourage repeat purchases and increase overall sales. Market penetration is often a more cost-effective way to increase sales compared to developing new products or targeting new customers. Therefore, it is the most appropriate answer to the question asked.

Making More Sales to Current Customers Without Changing a Firm's