Which of the Following Is True About Market Penetration

question 66

Multiple Choice

Which of the following is true about market penetration?

• A) It involves trying to gain additional share of a firm's existing markets using existing products.
• B) It involves creating new products to serve existing markets.
• C) It involves creating new products and trying to sell them within new markets.
• D) It involves entering entirely new industries.
• E) It involves moving into a new industry that has important similarities with the firm's existing industries.

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Definitions:

Supply Partnerships

Collaborative agreements between companies and their suppliers aimed at optimizing costs, quality, and supply chain efficiency.

Natural Resources

Materials or substances occurring in nature which can be exploited for economic gain, such as minerals, forests, water, and fertile land.

Organizational Buying Behavior

The decision-making process and actions involved when organizations purchase products or services for their own use or for resale.

Decision-making Process

The series of steps taken by individuals or businesses to identify and evaluate options before choosing a course of action.