Bine Lane LLC is a fabric store that sells only cotton clothing. After a situation analysis, the marketing team of Bine Lane wants its current customers to visit and purchase from the store more frequently. Which of the following growth strategies should Bine Lane follow to achieve its objective?

Question

Maximilian Barton

Social Studies

16 May, 22:58

Bine Lane LLC is a fabric store that sells only cotton clothing. After a situation analysis, the marketing team of Bine Lane wants its current customers to visit and purchase from the store more frequently. Which of the following growth strategies should Bine Lane follow to achieve its objective?

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Answers (1)

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Lawson · Answer 1

To achieve its objective, Bin Lane should follow market penetration growth opportunity strategies.

Explanation:

The growth strategy that makes the most sense for Bine Lane to achieve what it wants to achieve in this case would be the application of market penetration growth opportunities. Market Penetration is a complex set of actions, which all boil down to one.

They refer to the set of actions employed with the final goal of going ahead and creating what may be called a niche in the existing market. This refers to making your customers more and more frequently visit your store with the chance for more and more customers to be added on. This makes it the best choice for Bine Lane to make its customers visit and purchase more frequently.