Which marketing strategy focuses on increasing market share among existing customers?

The correct answer is focused on a specific approach where a company seeks to increase its market share by enhancing its sales to existing customers. This strategy, known as market penetration, aims at increasing the frequency of purchase or the amount spent by current customers rather than attracting new customers or creating new products.

Market penetration is typically achieved through various tactics such as aggressive pricing strategies, promotions, improved customer service, and enhancing product quality to encourage existing customers to buy more. By leveraging the existing customer base, the company can efficiently increase its market presence without the need to invest as heavily in new customer acquisition or product development.

In contrast, market development would focus on reaching new customers or new markets, product development emphasizes creating new products for the existing customer base, and diversification involves entering new markets with new products entirely. These strategies do not primarily aim to increase market share among the current clientele, which is the hallmark of market penetration.