ITPEC IP October 2020 Question 82
ITPEC IP October 2020 — Question 82 of 100
Market penetration occupies cell A: existing products sold in existing markets. The company seeks more sales or share among its current market, for example through promotion, pricing, distribution improvements, or encouraging more frequent use.
Answer (a)
Why not others:
- B, new products in existing markets, is product development
- C, existing products in new markets, is market development
- D, new products in new markets, is diversification
Key rule: In the Ansoff matrix: existing/existing = penetration, new product = product development, new market = market development, both new = diversification.
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