When a Firm Tries to Increase Sales by Offering New

question 306

Multiple Choice

When a firm tries to increase sales by offering new or improved products to its present markets, this is called:

• A) mass marketing.
• B) product development.
• C) market penetration.
• D) diversification.
• E) market development.

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Definitions:

Sale of Goods Act

Legislation governing the sale and purchase of goods, setting out legal rights and obligations of buyers and sellers.

Referral Selling

A sales strategy where existing customers are encouraged to refer new clients or customers to a business, often incentivized with rewards.

Door-to-Door Sales

The direct selling of goods or services to consumers at their homes or places of residence.

Abuses

The improper use or treatment of someone or something, often to unfairly or improperly gain benefit.