One way a company can benefit from implementing a market penetration strategy would be to 1 Multiple Choice 01:56:00 alter the product and sell it to a new market. find a new market and sell the product at a much higher prices sell the same amount of product at a higher price in the same market. sell more products at a lower price in new markets, reduce promotion and distribution costs to improve production efficiencies for the product in reaching new markets The form of competition in which there are many sellers and they each have a similar product is referred to as 2. Multiple Choice 8 0152.06 singular competition a monopoly pure competition monopolistic competition an oligopoly 3 You need to buy a gift for a young cousin's birthday. At the mall you see a girl wearing a Hello Kitty Thirt. You remember there is a store nearby with a lot of Hello Kitty merchandise so you go there and buy a lite backpack When you give to your counin she is very excited. In seems of behavioral toering your purchase the Hello Kitty store was 22. Mole Choice po co