Under the Ansoff matrix, selling an existing product to existing customers in an existing market is known as:
Correct answer: A. Market penetration
- A. Market penetration
- B. Market development
- C. Product development
- D. Diversification
Explanation
Market penetration seeks greater sales of current products in current markets, often through increased usage or winning competitors' customers. Market development uses current products in new markets, while diversification involves a new product and a new market.
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