Which of the following denotes a growth direction through the increase in market share for present product markets?
A) Market penetration
B) Diversification
C) Market development
D) Benchmarking

Question

Quizplus · Accepted Answer

Market penetration is the strategy of increasing market share for a present product in present markets. This can be achieved by increasing the frequency of purchase, entering into new distribution channels and market segments, and aggressive promotional activities. Diversification is a strategy of entering into new product markets or businesses, while market development involves expanding into new markets with existing products. Benchmarking is a process of comparing one's performance against the best in the industry in order to identify areas of improvement. None of these strategies denote a growth direction through the increase in market share for present product markets, except market penetration.

Which of the Following Denotes a Growth Direction Through the Increase