DECA Retail Merchandising Practice Exam

Increasing store hours is an example of a market penetration strategy because it directly aims to boost sales and attract more customers within an existing market. By extending the hours of operation, a business can offer more opportunities for customers to shop, potentially increasing foot traffic and sales without altering the product offerings or entering new markets. This approach capitalizes on the current customer base and strives to increase the frequency of purchases from existing customers.

In contrast, releasing a new product line represents product development rather than market penetration. Opening a second location entails expanding into a new geographic area, which is a strategy associated with market development. Launching a new website focuses on enhancing online presence and customer engagement but does not specifically address increasing market share within the existing market. Thus, the strategy of increasing store hours clearly aligns with enhancing sales within the current market framework.