What Are the Key Differences Between Market Penetration and Product

question 29

Multiple Choice

What are the key differences between market penetration and product development?

• A)Market penetration focuses on current products to existing markets,while product development focuses on new products to existing markets.
• B)Market penetration focuses on current products to new markets,while product development focuses on new products to existing markets.
• C)Market penetration focuses on new products to existing markets,while product development focuses on new products to new markets.
• D)Market penetration focuses on new products to new markets,while product development focuses on new products to existing markets.
• E)Market penetration focuses on market development,while product development focuses on diversification.

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Definitions:

Cost of Goods Sold

An expense measured and recorded on the income statement, representing the total cost of goods that were sold during a specified period.

Manufacturing Overhead Account

An account that tracks indirect production costs such as factory utilities, maintenance, and rent.

Job Costing

A method of costing that assigns expenses to specific jobs or projects.

Direct Labour

The workforce involved directly in manufacturing products or delivering services, whose costs are tied to the production output.