Question

Eco bean, a chain of cafes, has introduced a special shopper card that allows customers to pay in advance for coffee and snacks. This effort by EcoBean management is most likely an example of______.

• A. Product adaptation
• B. Diversification
• C. Product development
• D. Market development
• E. Market penetration

Answer 1

The correct option is E

Market penetration

Market penetration is an estimate of how much service or a product is being utilized by consumers compared with the complete assessed market for that service or product. The market penetration can likewise be utilized in creating new techniques to build the market share of a specific product or service.

Thus, option (E) is correct.