Page 95

Learning Objective: 02-07 Describe how firms grow their business. Topic: Growth Strategies

75.

Most banks now have customer relationship software that, when a customer contacts the bank, tells the service representative what types of accounts, loans, and credit cards the customer currently has. Service representatives use this information to sell some of the other services the bank currently offers to these customers. This is a ___________________ growth strategy.

A. product proliferation B. market development C. market penetration D. diversification E. product development Selling more existing services to existing customers is a market penetration growth strategy. If these were newly developed services, this would be a product development example.

AACSB: Knowledge Application Accessibility: Keyboard Navigation Blooms: Apply Difficulty: 3 Hard Learning Objective: 02-07 Describe how firms grow their business. Topic: Growth Strategies

2-94 Copyright Š 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education.

Profile for mansour.m83m

Test Bank for M Marketing 5th Grewal  

Test Bank M Marketing 5th Edition Grewal 2017 (Test Bank Download) (9781259446290) (1259446298). Instant access. All chapter are included. A...

Test Bank for M Marketing 5th Grewal  

Test Bank M Marketing 5th Edition Grewal 2017 (Test Bank Download) (9781259446290) (1259446298). Instant access. All chapter are included. A...