Question

As the marketing manager of a company that manufactures floor tiles, Evans Smith is given a target to achieve 500 new customers by the end of summer. He decides to search the market for probable customers who might use the product but do not at present. Which of the following strategies is Evans pursuing to increase the market demand for his product?
A) market-penetration strategy
B) new-market segment strategy
C) geographical-expansion strategy
D) needs-assessment strategy
E) consolidation strategy

Answer 1

Answer: (A) Market-penetration strategy

Explanation:  

 The market penetration is one of the type of business strategy that helps in developing its growth in the market by using the existing goods and the services.

The main objective of the market penetration strategy is that it basically focuses on selling the products in the existing marketplace for the purpose of gaining the high share profit in the market.

According to the given question, the Market penetration strategy is basically pursing by Evans smith for increase the demand of the products in the market as it is one of the quick diffusion process.  

 Therefore, Option (A) is correct answer.