The four fundamental growth strategies help firms identify growthopportunities in the marketplace. The strategies are based on twodimensions: new and current markets, and new and existing productsand services. For example, market penetration is the strategy where thefirm attempts to grow by having its existing market consume more ofits existing products. On the other hand, the growth strategy thatinvolves the firm attempting to grow by attracting a new market to itsexisting products is called what? a. Product development b. Market development c. Diversification d. Market penetration e. Product penetration
The four fundamental growth strategies help firms identify growthopportunities in the marketplace. The strategies are based on twodimensions: new and current markets, and new and existing productsand services. For example, market penetration is the strategy where thefirm attempts to grow by having its existing market consume more ofits existing products. On the other hand, the growth strategy thatinvolves the firm attempting to grow by attracting a new market to itsexisting products is called what? a. Product development b. Market development c. Diversification d. Market penetration e. Product penetration
Principles Of Marketing
17th Edition
ISBN:9780134492513
Author:Kotler, Philip, Armstrong, Gary (gary M.)
Publisher:Kotler, Philip, Armstrong, Gary (gary M.)
Chapter1: Marketing: Creating Customer Value And Engagement
Section: Chapter Questions
Problem 1.1DQ
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| The four fundamental growth strategies help firms identify growth opportunities in the marketplace. The strategies are based on two dimensions: new and current markets, and new and existing products and services. For example, market penetration is the strategy where the firm attempts to grow by having its existing market consume more of its existing products. On the other hand, the growth strategy that involves the firm attempting to grow by attracting a new market to its existing products is called what? a. Product development b. Market development c. Diversification d. Market penetration e. Product penetration |
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