Question 1

An approach whereby an organization allocates its marketing mix resources to reach its target markets and achieve a competitive advantage is
A) the tactical marketing process.
B) situational analysis.
C) diversification analysis.
D) synergy analysis.
E) the strategic marketing process.

Accepted Answer

The strategic marketing process involves allocating marketing mix resources to reach target markets and achieve a competitive advantage.

Question 2

Figure 2-5
-Quadrant D in Figure 2-5 above represents the marketing strategy of
A) market penetration.
B) product penetration.
C) market development.
D) product development.
E) diversification.

Accepted Answer

Quadrant D typically represents diversification, which involves introducing new products to new markets.

Question 3

Figure 2-5
-Quadrant A in Figure 2-5 above represents the marketing strategy of
A) market penetration.
B) product development.
C) market development.
D) product penetration.
E) diversification.

Accepted Answer

Market penetration is a strategy aimed at increasing sales of existing products in existing markets, which is typically represented in the first quadrant of strategic planning models like the Ansoff Matrix.

Question 4

During Super Bowl 50, Taco Bell unveiled a new offering for the U.S. market, the "quesalupa," a hybrid of a quesadilla and a chalupa. Here, Taco Bell was using a ________ strategy.
A) product development
B) market development
C) market penetration
D) diversification
E) market saturation

Accepted Answer

Taco Bell was using a product development strategy by introducing a new product, the "quesalupa," to its existing market.

Question 5

The strategic marketing process
A) involves taking stock of where the firm or product has been recently, where it is now, and where it is headed in terms of the organization's marketing plans and the external forces and trends affecting it.
B) is a technique to quantify performance measures and growth targets to analyze its clients' strategic business units as though they were a collection of separate investments.
C) describes an organization's appraisal of its internal strengths and weaknesses and its external opportunities and threats.
D) is an approach whereby an organization allocates its marketing mix resources to reach its target markets and achieves a competitive advantage.
E) seeks opportunities by finding the optimum balance between marketing efficiencies versus R&D-manufacturing efficiencies.

Accepted Answer

The answer of The strategic marketing process
A) involves taking stock...

Question 6

The marketing strategy of developing new products and selling them in new markets is referred to as
A) product penetration.
B) product development.
C) market development.
D) market penetration.
E) diversification.

Accepted Answer

Diversification involves creating new products and selling them in new markets, which is different from expanding existing products into new markets or developing new products for existing markets.

Question 7

An organization uses the strategic marketing process to answer all of the following questions except which?
A) "How do our results compare with our plans?"
B) "How do we allocate our resources to get where we want to go?"
C) "Where do we want to go?"
D) "Do deviations require new plans?"
E) "How do we convert our plans into actions?"

Accepted Answer

The answer of An organization uses the strategic marketing process...

Question 8

Figure 2-5
-The image depicted in Figure 2-5 above represents what strategic analysis technique?
A) Gantt chart
B) SWOT analysis
C) Pert chart
D) BCG growth-share matrix
E) Diversification analysis

Accepted Answer

The answer of  Figure 2-5
-The image depicted in Figure...

Question 9

Figure 2-5
-Quadrant C in Figure 2-5 above represents the marketing strategy of
A) product development.
B) market penetration.
C) market development.
D) product penetration.
E) diversification.

Accepted Answer

Quadrant C represents market development, which involves selling existing products in new markets.

Question 10

Within the strategic marketing process, the ________ is the result of the planning phase that will be carried out in the implementation phase.
A) marketing tactics
B) business plan
C) product protocol
D) marketing plan
E) marketing strategy

Accepted Answer

The marketing plan is the result of the planning phase and serves as a guide for the implementation phase in the strategic marketing process.

Question 11

If Ben & Jerry's sold a line of new "Get the Dough Out of Politics" T-shirts in its stores targeting its ice cream customers in the United States, it would be using a ________ strategy.
A) product development
B) market development
C) market penetration
D) diversification
E) market saturation

Accepted Answer

The answer of If Ben & Jerry's sold a line...

Question 12

Diversification refers to the marketing strategy of
A) increasing sales of current products in current markets.
B) selling current products to new markets.
C) selling new products to new markets.
D) selling new products to current markets.
E) selling the same brands in both current and new markets.

Accepted Answer

Diversification involves introducing new products to new markets, which is a strategy to spread risk and explore new opportunities.

Question 13

Figure 2-5
- Taco Bell sells Doritos Locos Tacos in the United States, with shells made out of Nacho Cheese Doritos. At introduction, the chain sold 100 million tacos in the first 10 weeks alone, its most popular product launch of all time. Considering Figure 2-5 above, this is an example of a ________ strategy that would be found in quadrant ________.
A) market penetration; A
B) product development; B
C) Diversification; D
D) market development; C
E) product-market expansion; D

Accepted Answer

The answer of Figure 2-5
- Taco Bell sells Doritos Locos...

Question 14

Which two marketing strategies would be used if a firm were not willing to find new markets?
A) Product development and market penetration
B) Product development and diversification
C) Market development and product development
D) Market development and market penetration
E) Market development and diversification

Accepted Answer

Product development and market penetration are two marketing strategies that can be used to increase sales without finding new markets. Product development involves creating new products or improving existing products, while market penetration involves increasing sales of existing products in existing markets.

Question 15

If Target opened a pop-up shop in the United Kingdom, where it currently has no stores, to sell Brexit memorabilia, it would be using a ________ strategy.
A) product development
B) market development
C) market penetration
D) diversification
E) market saturation

Accepted Answer

Diversification strategy involves entering a new market with a new product. Since Target is not currently in the UK and is selling a new product (Brexit memorabilia), this is a diversification strategy.

Question 16

Figure 2-5
-LEGO has traditionally been successful selling its classic construction sets to boys. Recently, LEGO introduced a line of building toys especially for girls called LEGO Friends. Although based on the same construction bricks and detailed instructions, the line included female characters, pink and purple theme colors, and allowed girls to construct more story-related pieces. Considering Figure 2-5 above, this is an example of a ________ strategy that would be found in quadrant ________.
A) diversification; D
B) market penetration; A
C) product development; B
D) market development; C
E) Product-market evolution; D

Accepted Answer

LEGO Friends is a new product line that is targeted at a new market segment (girls). This is an example of a product development strategy, which is found in quadrant B.

Question 17

The key steps of planning, implementation, and evaluation are part of
A) gap analysis.
B) the strategic marketing process.
C) situational analysis.
D) synergy analysis.
E) diversification analysis.

Accepted Answer

The strategic marketing process involves planning, implementation, and evaluation to effectively reach marketing goals.

Question 18

Figure 2-5
- Quadrant B in Figure 2-5 above represents the marketing strategy of
A) market penetration.
B) product penetration.
C) market development.
D) product development.
E) diversification.

Accepted Answer

The answer of  Figure 2-5
- Quadrant B in Figure...

Question 19

Which of the marketing strategies for expanding sales revenue presents the most risk for an organization?
A) Product development
B) Product-market evolution
C) Market development
D) Market penetration
E) Diversification

Accepted Answer

Diversification presents the most risk because it involves entering new markets with new products, which can be unfamiliar and unpredictable for the organization.

Question 20

Which of the following is not one of the four principles that underlie the strategic marketing process?
A) Competitors change and react.
B) Customers are different.
C) Organizational resources are limited.
D) Customers change.
E) Management changes.

Accepted Answer

The four principles that underlie the strategic marketing process are: customers are different, customers change, competitors change and react, and organizational resources are limited. Management changes is not one of these principles.

Quiz 2: Developing Successful Organizational and Marketing Strategies

An approach whereby an organization allocates its marketing mix resources to reach its target markets and achieve a competitive advantage is

Figure 2-5 -Quadrant D in Figure 2-5 above represents the marketing strategy of

Figure 2-5 -Quadrant A in Figure 2-5 above represents the marketing strategy of

During Super Bowl 50, Taco Bell unveiled a new offering for the U.S. market, the "quesalupa," a hybrid of a quesadilla and a chalupa. Here, Taco Bell was using a ________ strategy.

The strategic marketing process

The marketing strategy of developing new products and selling them in new markets is referred to as

An organization uses the strategic marketing process to answer all of the following questions except which?

Figure 2-5 -The image depicted in Figure 2-5 above represents what strategic analysis technique?

Figure 2-5 -Quadrant C in Figure 2-5 above represents the marketing strategy of

Within the strategic marketing process, the ________ is the result of the planning phase that will be carried out in the implementation phase.

If Ben & Jerry's sold a line of new "Get the Dough Out of Politics" T-shirts in its stores targeting its ice cream customers in the United States, it would be using a ________ strategy.

Diversification refers to the marketing strategy of

Which two marketing strategies would be used if a firm were not willing to find new markets?

If Target opened a pop-up shop in the United Kingdom, where it currently has no stores, to sell Brexit memorabilia, it would be using a ________ strategy.

The key steps of planning, implementation, and evaluation are part of

Figure 2-5 - Quadrant B in Figure 2-5 above represents the marketing strategy of

Which of the marketing strategies for expanding sales revenue presents the most risk for an organization?

Which of the following is not one of the four principles that underlie the strategic marketing process?