Which of the following is an example of a market penetration strategy for new product development?
A) Procter & Gamble sells its current traditional products in new overseas market segments.
B) Ford Motor Company introduces an electric car.
C) Black & Decker sells small home appliances.
D) Morton Salt advertises a way to use salt and vinegar to make a homemade metal polish.

Question

Quizplus · Accepted Answer

Market penetration strategies involve efforts to increase market share for existing products or services in existing markets through greater marketing efforts, improvements in existing offerings, or other tactics that encourage higher usage or new applications. Morton Salt advertising a new use for an existing product (salt) to encourage more consumption or to attract new customers within the same market is an example of a market penetration strategy.

Which of the Following Is an Example of a Market