Which approach is commonly employed during market penetration?

The approach commonly employed during market penetration is to offer discounts through marketing campaigns. This strategy aims to increase the market share of an existing product by attracting more customers and encouraging repeat purchases. Discounts can make products more appealing to price-sensitive consumers, thereby stimulating sales volume without the company needing to change the product itself.

By executing marketing campaigns that include promotions or temporary price reductions, businesses can effectively draw in customers who may have been hesitant to purchase at full price. This focus on increasing sales volume and market share is characteristic of market penetration strategies, which prioritize increasing the reach of existing products within established markets.

Other strategies, such as opening new branches in different countries or launching entirely new products, typically align more with market development or product development strategies, respectively. Similarly, diversifying the product line is associated with a different growth strategy aimed at entering new segments or markets rather than increasing the share of an existing product in its current market. Thus, offering discounts is the most fitting approach to effectively penetrate the market.