ITPEC IP April 2019 Question 83
ITPEC IP April 2019 — Question 83 of 100
Increasing sales of existing core products in the existing market is market penetration. The company uses more sales staff to win a larger share or increase usage without changing either the product category or target market.
Answer (d)
Why not others:
- (a) enters a new product and new market, which is diversification
- (b) offers a new product to the company's market, which is product development
- (c) takes existing products into a broader new market, which is market development
Key rule: In the Ansoff matrix: existing product plus existing market is penetration; changing product, market, or both produces the other three strategies.
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