______________ means trying to increase sales of a firm's present products in its present markets.

Question

Quizplus · Accepted Answer

Market penetration refers to the strategy of increasing sales of existing products in current markets. It involves efforts to increase market share, attract new customers and boost sales volume through various promotional and marketing activities. This can be achieved by offering discounts, introducing loyalty programs, improving the quality of the product, or by expanding distribution channels. The other options, such as product development, market development, diversification, and mass marketing, refer to different strategies aimed at either creating or expanding markets or developing new products.

______________ Means Trying to Increase Sales of a Firm's Present