Body Builders Gym's marketing team wants to stay open until 3:00 a.m.The gym currently closes at midnight.Most likely,this would be classified as ________ in Ansoff's Product-Market Matrix.

Question

Quizplus · Accepted Answer

Market penetration involves increasing sales of existing products in existing markets. By staying open until 3:00 a.m., the gym is seeking to increase its sales by extending its operating hours without introducing any new products or expanding into new markets. Therefore, the most appropriate classification of this strategy in Ansoff's Product-Market Matrix is market penetration.

Body Builders Gym's Marketing Team Wants to Stay Open Until