Which of the following is a strategy of increasing market share for present products in existing markets?

Question

Quizplus · Accepted Answer

Market penetration is the strategy of increasing market share for present products in existing markets by increasing sales to current customers or by attracting new customers without changing the product. This can be achieved by increasing marketing activities, offering promotions, or by lowering prices. Product development (B) is the strategy of creating new products for existing markets, market development (C) is the strategy of selling existing products in new markets and product penetration (D) is not a recognized marketing strategy.

Which of the Following Is a Strategy of Increasing Market