A Company's Increasing Its Sales in a Particular Market Without

question 30

Multiple Choice

A company's increasing its sales in a particular market without modifying its products is referred to as ________.

• A)market development
• B)market differentiation
• C)market penetration
• D)product development
• E)diversification

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Definitions:

Assembly Line

A manufacturing process in which parts are added to a product in a sequential manner to create a finished product much faster than with handcrafting-type methods.

Resources

The inputs, or factors of production, used to produce the goods and services that people want; resources consist of labor, capital, natural resources, and entrepreneurial ability.

Goods

Physical items that are produced and can be bought, sold, or traded, fulfilling consumer needs or desires.

Services

Economic activities that provides intangible products, such as healthcare, education, and entertainment, rather than physical goods.