Which strategy seeks to increase market share of present products or services in present markets through greater marketing efforts.

Question

Quizplus · Accepted Answer

Market penetration strategy focuses on increasing sales of existing products in existing markets through greater marketing efforts such as increased advertising, promotion, and sales efforts. The aim is to gain a larger market share in the same market by encouraging more usage of the product or service by existing customers or attracting new customers. This is usually achieved by price discounts or other incentives.

Which Strategy Seeks to Increase Market Share of Present Products