Which of the Following Would a Market Penetration Strategy Not

question 10

Multiple Choice

Which of the following would a market penetration strategy not involve?

• A) Efficiency gains and cost reductions
• B) Improved service or quality to improve the reputation of the organisation and differentiate it
• C) Improving existing core competencies or building new ones.
• D) Existing core competencies
• E) Exporting to increase sales

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Definitions:

Marketplace

A physical or virtual venue where buyers and sellers come together to exchange goods and services.

Loyalty Program

A marketing strategy that rewards, and therefore encourages, loyal buying behavior, which is beneficial to the business.

Relationship Marketing

A strategic approach to marketing that focuses on building long-term relationships with customers through customer satisfaction and engagement rather than just focusing on individual transactions.

Relationship Marketing

A strategy focused on building long-term customer relationships through personalized communication and tailored offerings, aiming to increase customer loyalty and lifetime value.