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17 November, 09:36

Which of the following is an example of a company increasing its market penetration?

A.

Taking customers away from competitors

B.

Selling existing products to new target markets

C.

Selling new products to the existing target market

D.

Selling new products to new target markets

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Answers (2)
  1. 17 November, 09:48
    0
    A, Taking customers away from competitors.
  2. 17 November, 10:01
    0
    C. Selling new products to the existing target market

    Explanation:,

    Market penetration is based on the strategies and the ways that are adapted to create a niche in the existing market to derive maximum profits from the market. Though the sales may decline but generally show wide-scale opportunities in the markets. Factors like the cost, technology and management practices. Thus this strategy keeps developing newer products in the market and boosting the sales volume by adding product lines. Use of special promotions to increase to grab the attention of the clients.
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Home » Business » Which of the following is an example of a company increasing its market penetration? A. Taking customers away from competitors B. Selling existing products to new target markets C. Selling new products to the existing target market D.
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