Which of the following growth strategies aims at either increasing the frequency of consumption or increasing the number of customers using a firm's product(s)?
A)Diversification and market penetration
B)Product development and diversification
C)Market development and diversification
D)Market development and market penetration

Question

Quizplus · Accepted Answer

The growth strategy that aims at either increasing the frequency of consumption or increasing the number of customers using a firm's product(s) is known as market development and market penetration. Market penetration aims at increasing the market share of existing products in existing markets, while market development aims at expanding the firm's market by introducing its existing products in new markets. Therefore, the best choice is option D, which includes both market penetration and market development.

Which of the Following Growth Strategies Aims at Either Increasing