What is the primary goal of market penetration as a business strategy?

The primary goal of market penetration as a business strategy is to increase market share by enhancing sales of existing products. This strategy focuses on boosting sales within the current market without changing the product line or entering new markets. By increasing market penetration, a business aims to capture a larger share of the market, which can lead to higher sales volumes and improved brand loyalty.

Market penetration typically involves tactics such as pricing adjustments, marketing campaigns, or promotional offers to encourage existing customers to buy more or to attract new customers from competitors. This approach is generally less risky compared to entering new markets or launching new products, as it leverages the existing product offerings and established customer base.

The other options, such as increasing variety, maximizing profit margins on new products, or entering new international markets, represent different strategic focuses that do not align with the core aim of market penetration. They involve either diversifying the product line, focusing on profit strategies for innovations, or expanding globally, which are distinct strategies requiring different approaches and resources.