Marketing Final Exam

In china motown records sells dvds to walmart yoplait

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Unformatted text preview: n records sells DVDs to Walmart Yoplait sends yogurt coupons to its existing customers 3M distributes Breathe Right nasal strips in Europe c. d. e. ANS: D Market penetration is the marketing of the same product to current customers. PTS: 1 REF: 22 Thinking KEY: CB&E Model Strategy OBJ: 02-6 TOP: AACSB Reflective MSC: BLOOMS Application 58. Kraft Foods created a magazine full of recipes and coupons for customers as well as a Web site with product and recipe information. The goal was to get current customers to purchase more of Kraft’s products. These activities are representative of a _____ strategy. a. diversification b. product development c. market development d. market penetration e. product penetration ANS: D Selling more of the same product to existing markets is market penetration. PTS: 1 REF: 22 Thinking KEY: CB&E Model Strategy OBJ: 02-6 TOP: AACSB Reflective MSC: BLOOMS Application 59. _____ is a strategy that attempts to attract new customers to existing products. a. Product development b. Market development c. Market penetration d. Product penetration e. Diversification ANS: B This is the definition of a market development. PTS: 1 REF: 22 Thinking KEY: CB&E Model Strategy OBJ: 02-6 TOP: AACSB Reflective MSC: BLOOMS Knowledge 60. In order to expand its sales into the U.S. market, BRL, an Australia-based winemaker, agreed to a merger with a U.S.-based wine distribution company. According to Ansoff’s strategic opportunity matrix, BRL would be implementing a _____ strategy. a. diversification b. market development c. product development d. e. divestment product penetration ANS: B Market development refers to the attracting of new markets (in this case, U.S. consumers) to existing products. PTS: 1 REF: 22 Thinking KEY: CB&E Model Strategy OBJ: 02-6 TOP: AACSB Reflective MSC: BLOOMS Application 61. Yard Whimzees, a Statesboro, Georgia, sign business, began by making wooden signs for residential use to announce births, anniversaries, and such. The company then turned to the business market by making signs for businesses. Creating signs for a new market is an implementation of a _____ strategy. a. market development b. market penetration c. product penetration d. product development e. diversification ANS: A Yard Whimzees used the same product (signs) for a new market (businesses), which is characteristic of a market development strategy. PTS: 1 REF: 22 Thinking KEY: CB&E Model Strategy OBJ: 02-6 TOP: AACSB Reflective MSC: BLOOMS Application 62. In the past, PajamaGram marketed pajamas only to women. Now the company offers pajamas for men and children. This is an example of a _____ strategy. a. market development b. product development c. market penetration d. product penetration e. divestment ANS: A Market development finds new uses for a product to stimulate sales among new customers. PTS: 1 REF: 22 Thinking KEY: CB&E Model Strategy OBJ: 02-6 TOP: AACSB Reflective MSC: BLOOMS Application 63. LVMH, a maker of luxury go...
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