Which of the following growth strategies aims at either increasing 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

Market development and market penetration both aim at increasing the frequency of consumption or increasing the number of customers using a firm's product(s). Market development involves expanding into new markets with existing products, while market penetration involves increasing market share in existing markets through marketing efforts. The other options (A, B, C) either focus on introducing new products or entering new markets, rather than increasing frequency of consumption or customer base.

Which of the Following Growth Strategies Aims at Either Increasing