Asked by Maheen Khatija on Sep 28, 2024
Verified
A large retail firm is experiencing a significant sales gap.Which of the following strategies would LEAST likely be implemented by the firm to close the gap?
A) diversification
B) market penetration
C) forward integration
D) product development
Forward Integration
A business strategy where a company controls the distribution and sale of its products by moving downstream in the supply chain.
Diversification
A risk management strategy that involves expanding a company's operations by adding new products, services, or markets to its existing portfolio.
Market Penetration
Strategies aimed at increasing the market share of an existing product, or promoting a new product, through aggressive marketing and sales approaches.
- Understand the strategies available to a firm for closing sales and profitability gaps.
Verified Answer
Learning Objectives
- Understand the strategies available to a firm for closing sales and profitability gaps.
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