Which of the following is the marketing strategy that employs an existing marketing mix and focuses a firm's efforts on existing customers?
A)Product diversification
B)Market diversification
C)Market development
D)Market penetration
E)Product development

Question

Quizplus · Accepted Answer

Market penetration is the marketing strategy that focuses on increasing a firm's sales within existing markets using existing products. It involves increasing the market share of the firm by convincing existing customers to buy more of a product or by attracting new customers to buy the product. The strategy involves using the existing marketing mix to increase the frequency of purchase, encourage repeat purchases, and stimulate referrals from existing customers.

Which of the Following Is the Marketing Strategy That Employs