If sales revenues of Starbucks VIA Ready Brew instant coffee to U.S.consumers increased as a result of a slight price increase of $0.25 per pack,it would be using a __________ strategy.
A)product development
B)market development
C)market penetration
D)diversification
E)market saturation

Question

Quizplus · Accepted Answer

Market penetration strategy involves increasing sales of existing products in existing markets. In this case, the slight price increase of $0.25 per pack is aimed at increasing sales revenues of Starbucks VIA Ready Brew instant coffee to U.S. consumers, which is an existing market and an existing product. Therefore, the correct strategy being used is market penetration.

If Sales Revenues of Starbucks VIA Ready Brew Instant Coffee