What Is The Advantage Of Using A Market Penetration Growth Strategy

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What is the advantage of using a market penetration growth strategy?

There is a near-zero chance of failure

“It represents a new product offering, which is exciting to the business’s consumers”

It represents an opportunity to reach new markets

“It is less risky, since the business already knows current customers like their offerings”

It allows the company to rebrand itself

All of the following are examples of a sustainable competitive advantage except:

“Company B is a clothing company known for their great customer service. It is so good that people joke, “”You can return tires there.”””

“Company J is an automobile producer. Year after year, their cars win awards for being best in class.”

“Company T is known for excellent supply chain management and always delivering the good that are needed, when they are needed.”

“Company X is known for always having the lowest price. Whenever a competitor lowers its price, Company X lowers its price even more.”

“Company N is a coffee shop known for having its stores in the perfect place. Wherever there is a tired New Yorkers need a coffee, there seems to be a Company N Coffee Shop nearby.”

Research has shown that smartphones fulfill functional but not psychological needs.

True

False

magine you are about to buy some plates (dinnerware). Which of the following is least likely to influence your purchasing decision?

whether you are buying the plates for yourself or someone else

the characteristics of the shopping situation

the opinions of reference groups

whether your more basic needs such as safety have first been met

the company’s international marketing strategy

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