Marketing Final Exam

A maker of luxury goods has expanded its products

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: ods, has expanded its products offerings into China, Russia, India, and the Middle East. This exemplifies a _____ strategy. a. market development b. product development c. market penetration d. diversification e. product expansion ANS: A Market development is the introduction and sale of present products to new markets. PTS: 1 REF: 22 Thinking KEY: CB&E Model Strategy OBJ: 02-6 TOP: AACSB Reflective MSC: BLOOMS Application 64. All of the following are strategic alternatives that match products with markets EXCEPT: a. product development b. market penetration c. product penetration d. diversification e. market development ANS: C The four strategic alternatives that match products with markets are market penetration, market development, product development, and diversification. PTS: 1 REF: 22-23 Thinking KEY: CB&E Model Strategy OBJ: 02-6 TOP: AACSB Reflective MSC: BLOOMS Analysis 65. _____ is a marketing strategy that creates new products for present markets. a. Product penetration b. Market penetration c. Product development d. Market development e. Diversification ANS: C This is the definition of product development. PTS: 1 REF: 23 Thinking KEY: CB&E Model Strategy OBJ: 02-6 TOP: AACSB Reflective MSC: BLOOMS Knowledge 66. Kraft introduced Philadelphia Ready-To-Eat Cheesecake Filling for those who do not have time to make cheesecake in the traditional manner. This is an example of a _____ strategy. a. diversification b. market development c. product development d. divestment e. product penetration ANS: C A product development strategy entails the creation of a new product for existing markets. PTS: 1 Thinking REF: 23 OBJ: 02-6 TOP: AACSB Reflective KEY: CB&E Model Strategy MSC: BLOOMS Application 67. The marketing of organic cotton tee-shirts for Life is good’s existing customers would be an example of a _____ strategy. a. market development b. product development c. market penetration d. product penetration e. diversification ANS: B Product development is the introduction of new products to existing customers. PTS: 1 REF: 23 Thinking KEY: CB&E Model Strategy OBJ: 02-6 TOP: AACSB Reflective MSC: BLOOMS Application 68. Clay Market began as a retailer of terra-cotta pots and garden figures imported from Turkey and Mexico. It has since added Turkish rugs and fabrics, leather-trimmed purses, and a line of women’s clothes for its customers. These activities are indicative of a _____ strategy. a. vertical integration b. market penetration c. diversification d. product development e. market development ANS: D Product development stimulates new sales to existing markets. Since the question states the items are for the firm’s customers, they are aimed at existing markets (buyers). PTS: 1 REF: 23 Thinking KEY: CB&E Model Strategy OBJ: 02-6 TOP: AACSB Reflective MSC: BLOOMS Application 69. The Hallmark Company was inspired by the popularity of Jan Karon’s best-selling novels about Mitford, a fictional town in the mountains of No...
View Full Document

This document was uploaded on 09/29/2013.

Ask a homework question - tutors are online