Market penetration refers to the strategy of _________ to gain market share.
- Entering new markets
- Expanding product line
- Increasing promotion
- Lowering prices
Market penetration involves penetrating existing markets with existing products. This strategy focuses on increasing market share by attracting more customers to purchase the company's products or services. Lowering prices is one way to implement market penetration by making the product more affordable and appealing to a larger customer base.
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