Asked by Aubrielle Angell on Jul 03, 2024
Verified
Bisquick,a General Mills brand,includes numerous recipes on the back of each box of baking mix.General Mills is most likely using a strategy of ________.
A) product development
B) market development
C) market penetration
D) diversification
Recipes on Box
Instructions for preparing meals printed on the packaging of food products, adding value and convenience for consumers.
General Mills
An American multinational manufacturer and marketer of branded consumer foods sold through retail stores.
- Comprehend the distinctions among different expansion approaches: market penetration, market development, product development, and diversification.
- Recognize and elucidate the fundamental principles of market penetration and related strategies.
- Examine the methods by which businesses can prolong the lifecycle of a product by introducing novel features or uses.
Verified Answer
SH
Sonia HanifaJul 08, 2024
Final Answer :
C
Explanation :
Market penetration refers to the strategy of increasing sales of an existing product in an existing market. By including numerous recipes on the back of each box of Bisquick, General Mills is encouraging customers to use the product in different ways and potentially purchase more boxes in the future. This is an example of market penetration.
Learning Objectives
- Comprehend the distinctions among different expansion approaches: market penetration, market development, product development, and diversification.
- Recognize and elucidate the fundamental principles of market penetration and related strategies.
- Examine the methods by which businesses can prolong the lifecycle of a product by introducing novel features or uses.
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