A ________ seeks to increase the sales of a product or service through greater marketing efforts or through increased production capacity and efficiency.
A) product line extension strategy
B) strategic alliance strategy
C) geographic expansion strategy
D) market penetration strategy
E) improving an existing product or service strategy

Question

Quizplus · Accepted Answer

A market penetration strategy seeks to increase sales of an existing product or service through greater marketing efforts or increased efficiency in production. It is often a low-risk and low-cost approach to growing a business, as it focuses on expanding within the current market rather than entering new markets or developing new products.

A ________ Seeks to Increase the Sales of a Product