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texasmade2550 texasmade2550
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Compare and contrast market penetration with diversification.
Textbook 

Business in Action


Edition: 9th
Authors:
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HCho0HCho0
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More questions for this book are available here
Market penetration involves selling more of a firm's existing products into the markets it already serves. Diversification refers to creating new products for new markets. Market penetration can be the least risky because your products already exist and the market has already demonstrated some level of demand for your products. However, diversification has high levels of risk. It involves creating new products for new markets which is usually the riskiest choice of all because you encounter uncertainties in both products and market dimensions.

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