Question 1

When using a ________ strategy,there is no change in either the basic product line or the markets served.Instead,increased sales are generated by selling either more products through better promotion or distribution or the same number of products at a higher price.
A)product development
B)market development
C)diversification
D)market saturation
E)market penetration

Accepted Answer

Market penetration is a marketing strategy to increase sales of current products in current markets.

Question 2

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

A diversification strategy of developing new products in new markets is high risk because of the lack of experience with either for the organization.

Question 3

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

Accepted Answer

Text term definition-product development.

Question 4

Part of the growth strategy for Yum! Brands,the parent company of KFC,Pizza Hut,and Taco Bell,is expansion of its current fast-food businesses into untapped international markets,such as China,Russia,and India.This type of expansion would be a ________ strategy.
A)product development
B)market penetration
C)diversification
D)market development
E)market saturation

Accepted Answer

Market development is a marketing strategy to sell current products to new markets.

Question 5

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

Accepted Answer

Text term definition-market development.

Question 6

During Super Bowl 50,Taco Bell unveiled its latest 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 offering a new product,the quesalupa,to the existing U.S.market of Mexican-style fast food diners is a product development strategy.

Question 7

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

Text term definition-diversification.

Question 8

If Ben & Jerry's sold a line of new "Get the Dough Out of Politics" T-shirts targeted to college students 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

Ben & Jerry's currently does not sell clothing but supports getting "big money" out of politics as part of its social mission.Product development is a marketing strategy to increase sales of new products ("Get the Dough Out of Politics" T-shirts)in current markets (U.S.college students).

Question 9

One way a company can benefit from implementing a market penetration strategy would be to
A)sell more products at a lower price in new markets.
B)sell the same amount of product at a higher price in the same market.
C)find a new market and sell the product at a much higher price.
D)alter the product and sell it to a new market.
E)reduce promotion and distribution costs to improve production efficiencies for the product in reaching new markets.

Accepted Answer

In market penetration,there is no change in either the basic product line or the markets served.Increased sales are generated by selling either more products through better promotion or distribution,or the same number of products at a higher price.

Question 10

Figure 2-5
 
-Taco Bell sells Doritos Locos Tacos in the U.S. ,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

Product development is a marketing strategy of selling new products to current markets (B),the situation here.

Question 11

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 marketing strategy to increase sales of current products in current markets.

Question 12

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

Diversification analysis is a technique a firm uses to search for growth opportunities form among current and new products and markets.

Question 13

If sales revenues for Starbucks VIA Ready Brew instant coffee sold to U.S.consumers increased as a result of a slight price increase of $0.25 per pack,it would be using a ________ strategy.
A)product development
B)market development
C)market penetration
D)diversification
E)market saturation

Accepted Answer

Market penetration is a marketing strategy to increase sales of current products in current markets.There is no change in either the basic product line or the markets served.Increased sales are generated by selling either more products through better promotion or distribution,or the same number of products at a higher price.

Question 14

Product development 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

Text term definition-product development.

Question 15

If Ben & Jerry's sold more units of its Chocolate Chip Cookie Dough super premium ice cream to U.S.consumers as a result of increased promotion while keeping its price per pint the same,it would be using a ________ strategy.
A)product development
B)market development
C)market penetration
D)diversification
E)market saturation

Accepted Answer

Market penetration is a marketing strategy to increase sales of current products in current markets.There is no change in either the basic product line or the markets served.Increased sales are generated by selling either more products through better promotion or distribution,or the same number of products at a higher price.

Question 16

If Ben & Jerry's sold a line of new "Get the Dough Out of Politics" T-shirts targeted to college students in Latvia,it would be using a ________ strategy.
A)product development
B)market development
C)market penetration
D)diversification
E)market saturation

Accepted Answer

Ben & Jerry's currently does not sell clothing nor does it do business in Latvia.Diversification is a marketing strategy to increase sales of new products ("Get the Dough Out of Politics" T-shirts)in new markets (Latvian college students).

Question 17

If Ben & Jerry's starts selling its super premium ice cream in Brazil for the first time,it will be using a ________ strategy.
A)product development
B)market development
C)diversification
D)market saturation
E)market penetration

Accepted Answer

Ben & Jerry's currently does not do business in Brazil.Market development is a marketing strategy to sell current products to new markets.

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

Product development is a marketing strategy of selling new products to current markets.

Question 19

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

Text term definition-diversification.

Question 20

The marketing strategy to sell current products to new markets is referred to as
A)market penetration.
B)market infiltration.
C)market development.
D)product development.
E)diversification.

Accepted Answer

Text term definition-market development.

Quiz 2: Developing Successful Organizational and Marketing Strategies

When using a ________ strategy,there is no change in either the basic product line or the markets served.Instead,increased sales are generated by selling either more products through better promotion or distribution or the same number of products at a higher price.

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

The marketing strategy of selling new products to current markets is referred to as

Part of the growth strategy for Yum! Brands,the parent company of KFC,Pizza Hut,and Taco Bell,is expansion of its current fast-food businesses into untapped international markets,such as China,Russia,and India.This type of expansion would be a ________ strategy.

Market development refers to the marketing strategy of

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

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

If Ben & Jerry's sold a line of new "Get the Dough Out of Politics" T-shirts targeted to college students in the United States,it would be using a ________ strategy.

One way a company can benefit from implementing a market penetration strategy would be to

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

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

If sales revenues for Starbucks VIA Ready Brew instant coffee sold to U.S.consumers increased as a result of a slight price increase of $0.25 per pack,it would be using a ________ strategy.

Product development refers to the marketing strategy of

If Ben & Jerry's sold more units of its Chocolate Chip Cookie Dough super premium ice cream to U.S.consumers as a result of increased promotion while keeping its price per pint the same,it would be using a ________ strategy.

If Ben & Jerry's sold a line of new "Get the Dough Out of Politics" T-shirts targeted to college students in Latvia,it would be using a ________ strategy.

If Ben & Jerry's starts selling its super premium ice cream in Brazil for the first time,it will be using a ________ strategy.

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

Diversification refers to the marketing strategy of

The marketing strategy to sell current products to new markets is referred to as