Question

Which growth strategy is designed to increase sales of existing products to current customers, non-users, and users of competitive brands in served markets would utilize which of the following marketing​ strategies?
A. Control.
B. Market penetration.
C. Market development.
D. Diversification.
E. Product development.

Answer 1

Answer:

market penetration:

Explanation:

Market penetration refers to the approach of selling the service and product in the market that is specified for a particular product.

it is calculated by determining the total amount of product sales in the market compared to goal of selling products in the market.

it involves all process that is needed to promote or to grow the market percentage in a particular business.

it is calculated as

market penetration$= \frac{market\ covered}{target\ market} \times 100$