Which of the Following Is a Strategy of Increasing Market

question 70

Multiple Choice

Which of the following is a strategy of increasing market share for present products in existing markets?

• A)market penetration
• B)product development
• C)market development
• D)product penetration

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Definitions:

Elastic Segment

refers to a portion of the market where demand is highly sensitive to changes in price.

Inelastic Segment

A portion of the demand curve where consumers' demand for a product does not significantly change with a change in price.

Demand Curve

A graphical representation showing the relationship between the price of a good and the quantity of the good that consumers are willing and able to purchase at various prices.

Nondiscriminating Monopolist

A monopolist who charges all consumers the same price for its product or service, regardless of demand differences.