Question 1

The image depicted in Figure 2-5 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 The image depicted in Figure 2-5 represents...

Question 2

Quadrant C in Figure 2-5 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 3

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 was introducing a new product to the U.S. market, which falls under product development strategy. Market development strategy involves introducing an existing product to a new market, market penetration strategy involves increasing sales of an existing product in an existing market, and diversification strategy involves introducing a new product to a new market. Market saturation is not a recognized marketing strategy.

Question 4

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 5

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

Market development involves introducing existing products in a new market. In this case, Ben & Jerry's is introducing its existing super premium ice cream in a new market, which is Brazil.

Question 6

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

Accepted Answer

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

Question 7

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 8

An approach whereby an organization allocates its marketing mix resources to reach its target markets is referred to as
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 the allocation of marketing mix resources to reach a specific target market. It includes steps such as segmentation, targeting, and positioning, which help in identifying and analyzing the target market and deciding on the appropriate marketing mix to reach that market. The other options (A, B, C, and D) do not specifically refer to the allocation of marketing mix resources to target markets.

Question 9

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

The answer of The marketing strategy of developing new products...

Question 10

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, 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 introduction of Doritos Locos Tacos is an example of a product development strategy, as it involves creating a new product (taco with a Doritos shell) for the existing market.

Question 11

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

Accepted Answer

Quadrant D in the Ansoff Matrix, which Figure 2-5 likely represents, corresponds to diversification, where a company introduces new products to new markets.

Question 12

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.
E) seeks opportunities by finding the optimum balance between marketing efficiencies versus R&D-manufacturing efficiencies.

Accepted Answer

Key term definition-strategic marketing process.

Question 13

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

The answer of Which two marketing strategies would be used...

Question 14

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 involves entering new markets with new products or services, which presents a higher level of risk as it involves unfamiliar territory and a lack of established customer base. It requires significant investment in research and development, marketing and advertising, and distribution channels. The success rate of diversification strategies is lower than other strategies, and failure can result in substantial financial losses.

Question 15

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 selling new products to new markets, which expands a company's reach and reduces its dependence on its current products or markets. Options A, B, D, and E all involve selling current products in some capacity, which is not true diversification.

Question 16

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. It includes feminine characters, pink and purple theme colors, and allows girls to construct more story-related activities. The company felt this was a way to reach into the girl's toy market where alternatives include princess games and accessories. Considering Figure 2-5, 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 LEGO has traditionally been successful selling its...

Question 17

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

Accepted Answer

Quadrant A represents market penetration, which involves increasing sales of existing products in existing markets.

Question 18

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 involves expanding the existing products into new market segments or geographic regions. In this case, Yum! Brands is expanding its fast-food businesses into untapped international markets, which aligns with the concept of market development.

Question 19

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

The answer of Product development refers to the marketing strategy...

Question 20

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

The answer of The marketing strategy of selling new products...

Quiz 2: Developing Successful Organizational and Marketing Strategies

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

Quadrant C in Figure 2-5 represents 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.

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.

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

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.

An approach whereby an organization allocates its marketing mix resources to reach its target markets is referred to as

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

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

The strategic marketing process

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

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

Diversification refers to the marketing strategy of

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

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.

Product development refers to the marketing strategy of

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