Question

In an attempt to increase sales, JCPenney has increased its advertising and sales promotions in its current markets, hoping to attract new customers and get existing customers in the doors. Which growth strategy is JCPenney employing

Answer 1

Answer: Market penetration

Explanation:

Market penetration can be defined as the comparison of the assessment of how much product has been sold relative to the total market has been estimated to be covered for that particular product. It is expressed in percentage. The market penetration can be enhanced by increasing the advertisement of the product and promoting the sales.

Hence, market penetration is the growth strategy, which JC Penney is applying.