Marketing Final Exam

Town in the mountains of north carolina to develop a

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: rth Carolina, to develop a new line of products for Hallmark Gold Crown Stores nationwide. Hallmark created hundreds of Mitford-inspired products that authentically bring “the little town with the big heart” into tangible reality. The products include greeting cards, partyware and gift wrap, mugs, and puzzles for Hallmark’s existing customers. Hallmark used a _____ strategy. a. market development b. market penetration c. product penetration d. product development e. diversification ANS: D Hallmark created new Mitford-based items for its regular customers. PTS: 1 REF: 23 OBJ: 02-6 TOP: AACSB Reflective Thinking KEY: CB&E Model Strategy MSC: BLOOMS Application 70. _____ is the strategy of increasing sales by introducing new products into new markets. a. Product penetration b. Product development c. Market penetration d. Market development e. Diversification ANS: E This is the definition of a diversification strategy. PTS: 1 REF: 23 Thinking KEY: CB&E Model Strategy OBJ: 02-6 TOP: AACSB Reflective MSC: BLOOMS Knowledge 71. Orange growers in Florida have lost millions of dollars due to hurricanes. As a result, some growers have decided to bulldoze their orange groves and put in freshwater lakes for raising shrimp, a product that has a strong popularity and is more weather resistant. Former orange growers who are now raising shrimp are pursuing a _____ strategy. a. market penetration b. product development c. diversification d. market development e. product penetration ANS: C Diversification is defined as selling a new product to a new market. PTS: 1 REF: 23 Thinking KEY: CB&E Model Strategy OBJ: 02-6 TOP: AACSB Reflective MSC: BLOOMS Application 72. The company that manufactures Molson beer, which is typically consumed by males, launched an alcoholic lemonade beverage to attract more females. This launch of a new product to attract a new market for Molson’s products is an illustration of a _____ strategy. a. market development b. market penetration c. product penetration d. product development e. diversification ANS: E Diversification is a strategy of increasing sales by introducing new products into new markets. PTS: 1 REF: 23 Thinking KEY: CB&E Model Strategy OBJ: 02-6 TOP: AACSB Reflective MSC: BLOOMS Application 73. For most American consumers, the brand name Benetton brings to mind a retail clothing store that carries many products that bear the Benetton brand. But Edizone Holding, which also owns a chain of restaurants, several toll roads in Italy, and a telecommunications company, holds the Benetton Group. The list of the company’s holdings indicates that the company’s managers believe in growth through: a. market penetration b. diversification c. product development d. market development e. market integration ANS: B Diversification is defined as strategy of increasing sales by selling new products to a new market. PTS: 1 REF: 22 Thinking KEY: CB&E Model Strategy OBJ: 02-6 TOP: AACSB Reflective MSC: BLOOMS Applic...
View Full Document

Ask a homework question - tutors are online