A market penetration strategy requires:
A)development of a highly innovative product offering.
B)entry to a new geographic market.
C)lesser marketing efforts.
D)reduced spending on advertising.
E)intensified distribution efforts in existing markets.

Question

Quizplus · Accepted Answer

A market penetration strategy aims at increasing market share in existing markets by intensifying distribution efforts. This may involve increasing advertising and promotional activities to persuade customers to switch to the company's product or expanding its sales force to reach more customers. Developing innovative products or entering new geographic markets is more indicative of a product development or market development strategy, respectively. While marketing efforts may be refined, a penetration strategy typically requires increased, not reduced, marketing efforts.

A Market Penetration Strategy Requires