Chello Inc. ,a large smartphone manufacturing company,has been selling the world's cheapest smartphone,Zing.Recently,to increase its sales,Chello reduced the price of the phone even further.The marketing slogan for the Zing series is "The cheapest way to get smart." Chello Inc.is most likely using a _____ in this scenario.

Question

Quizplus · Accepted Answer

Chello Inc. is using a market penetration strategy by reducing the price of the Zing phone to increase its sales. The marketing slogan "The cheapest way to get smart" further supports this strategy. Product diversification, product development, and market integration strategies involve introducing new products, improving existing products, and expanding the company's operations, respectively, which are not indicated in this scenario.