Question 1

GreatGadgets, an Internet-based marketer of innovative gift items, decides to sell products in its own retail stores--to reach consumers who don't like to buy without first seeing the item in person. This is an example of:

Accepted Answer

Market development means trying to increase sales by selling present products in new markets. This may involve searching for new uses for a product, advertising in different media to reach new target customers, or adding channels of distribution or new stores in new areas, including overseas.

Question 2

BeQuick, a fast-food restaurant, has always operated outlets in malls. With a new strategy that involves opening new outlets that sell the same menu but operate in airports, zoos, casinos, and military bases, BeQuick is pursuing what type of opportunity?

Accepted Answer

Market development means trying to increase sales by selling present products in new markets. This may involve searching for new uses for a product, advertising in different media to reach new target customers, or adding channels of distribution or new stores in new areas, including overseas.

Question 3

____ refers to offering new or improved products for present markets.

Accepted Answer

Product development means offering new or improved products for present markets. Knowing the present market's needs, a firm may see new ways to satisfy customers.

Question 4

When a firm tries to increase sales by offering new or improved products to its present markets, this is called:

Accepted Answer

Product development means offering new or improved products for present markets. Knowing the present market's needs, a firm may see new ways to satisfy customers.

Question 5

If Wendy's decides to test market a hot dog in several stores to determine if it can make more profit from this menu item than from a "Wendy's single," which market opportunity is Wendy's pursuing?

Accepted Answer

Product development means offering new or improved products for present markets. Knowing the present market's needs, a firm may see new ways to satisfy customers.

Question 6

Avon, which in the past relied on door-to-door personal selling, is trying to reach new customers by distributing mail-order catalogs, adding toll-free telephone ordering, and opening online retail sites. Avon is pursuing a ______________ opportunity.

Accepted Answer

Market development means trying to increase sales by selling present products in new markets. This may involve searching for new uses for a product, advertising in different media to reach new target customers, or adding channels of distribution or new stores in new areas, including overseas.

Question 7

A producer of frozen pasta dinners finds that its current target customers select among its frozen pasta dinners, going to a pizza restaurant, or staying home and eating an Italian sub sandwich. So the company set up a chain of pizza restaurants that also serve Italian sub sandwiches. This seems to be an effort at:

Accepted Answer

Product development means offering new or improved products for present markets. Knowing the present market's needs, a firm may see new ways to satisfy customers.

Question 8

Wendy's continues to test possible new toppings for hamburgers, including grilled mushrooms and provolone cheese. This suggests that Wendy's is pursuing ______________.

Accepted Answer

Product development means offering new or improved products for present markets. Knowing the present market's needs, a firm may see new ways to satisfy customers.

Question 9

Wendy's continues to come out with new offerings like stuffed pitas. This suggests that Wendy's is pursuing ______________.

Accepted Answer

Product development means offering new or improved products for present markets. Knowing the present market's needs, a firm may see new ways to satisfy customers.

Question 10

Coca-Cola is taking advantage of the new willingness of Chinese leaders to engage in international trade by marketing its soft drinks in China. What type of opportunity is Coke pursuing?

Accepted Answer

Market development means trying to increase sales by selling present products in new markets. This may involve searching for new uses for a product, advertising in different media to reach new target customers, or adding channels of distribution or new stores in new areas, including overseas.

Question 11

When AT and T advertises in THE WALL STREET JOURNAL that smartphones using its technology can make calls from more than 200 countries in the world, which market opportunity is AT and T pursuing?

Accepted Answer

Market development means trying to increase sales by selling present products in new markets. This may involve searching for new uses for a product, advertising in different media to reach new target customers, or adding channels of distribution or new stores in new areas, including overseas.

Question 12

The Wall Street Journal has been trying to attract new customers by promoting its newspaper for student use in business courses. This is an example of

Accepted Answer

Market development means trying to increase sales by selling present products in new markets. This may involve searching for new uses for a product, advertising in different media to reach new target customers, or adding channels of distribution or new stores in new areas, including overseas.

Question 13

E-Z-Go, a producer of golf carts, promotes its carts to other users by advertising them as an easy and quiet way for workers to get around malls, airports, and big factories. E-Z-Go is trying to increase its sales through

Accepted Answer

Market development means trying to increase sales by selling present products in new markets. This may involve searching for new uses for a product, advertising in different media to reach new target customers, or adding channels of distribution or new stores in new areas, including overseas.

Question 14

To compete more successfully with its many competitors offering packaged cookies, Famous Amos added its own line of "extra chunky" premium cookies. This seems to be an effort at:

Accepted Answer

Product development means offering new or improved products for present markets. Knowing the present market's needs, a firm may see new ways to satisfy customers.

Question 15

An Embassy Suites hotel offers an inexpensive "Family Luncheon Buffet" on Sundays to get customers for its restaurant that is filled by business travelers during week days. This effort to get new customers for the available facility is an example of

Accepted Answer

Market development means trying to increase sales by selling present products in new markets. This may involve searching for new uses for a product, advertising in different media to reach new target customers, or adding channels of distribution or new stores in new areas, including overseas.

Question 16

When a company expands globally, this is an example of:

Accepted Answer

Market development means trying to increase sales by selling present products in new markets. This may involve searching for new uses for a product, advertising in different media to reach new target customers, or adding channels of distribution or new stores in new areas, including overseas.

Question 17

When a firm tries to increase sales by selling its present products in new markets, this is called:

Accepted Answer

Market development means trying to increase sales by selling present products in new markets. This may involve searching for new uses for a product, advertising in different media to reach new target customers, or adding channels of distribution or new stores in new areas, including overseas.

Question 18

An Australian wine producer, facing declining sales at home, set up a new channel of distribution to sell wine in the United States. This seems to be an effort at

Accepted Answer

Market development means trying to increase sales by selling present products in new markets. This may involve searching for new uses for a product, advertising in different media to reach new target customers, or adding channels of distribution or new stores in new areas, including overseas.

Question 19

In an effort to increase its total sales, Champion has started exporting its spark plugs for use by several German auto producers. Champion is pursuing a ______________ opportunity.

Accepted Answer

Market development means trying to increase sales by selling present products in new markets. This may involve searching for new uses for a product, advertising in different media to reach new target customers, or adding channels of distribution or new stores in new areas, including overseas.

Question 20

A mail-order marketer of flower bulbs to gardening hobbyists decides to sell the bulbs in grocery stores--to reach nonhobbyists who might be interested in pretty flowers. This is an example of:

Accepted Answer

Market development means trying to increase sales by selling present products in new markets. This may involve searching for new uses for a product, advertising in different media to reach new target customers, or adding channels of distribution or new stores in new areas, including overseas.

Quiz 2: Marketing Strategy Planning

GreatGadgets, an Internet-based marketer of innovative gift items, decides to sell products in its own retail stores--to reach consumers who don't like to buy without first seeing the item in person. This is an example of:

BeQuick, a fast-food restaurant, has always operated outlets in malls. With a new strategy that involves opening new outlets that sell the same menu but operate in airports, zoos, casinos, and military bases, BeQuick is pursuing what type of opportunity?

____ refers to offering new or improved products for present markets.

When a firm tries to increase sales by offering new or improved products to its present markets, this is called:

If Wendy's decides to test market a hot dog in several stores to determine if it can make more profit from this menu item than from a "Wendy's single," which market opportunity is Wendy's pursuing?

Avon, which in the past relied on door-to-door personal selling, is trying to reach new customers by distributing mail-order catalogs, adding toll-free telephone ordering, and opening online retail sites. Avon is pursuing a ______________ opportunity.

Wendy's continues to test possible new toppings for hamburgers, including grilled mushrooms and provolone cheese. This suggests that Wendy's is pursuing ______________.

Wendy's continues to come out with new offerings like stuffed pitas. This suggests that Wendy's is pursuing ______________.

Coca-Cola is taking advantage of the new willingness of Chinese leaders to engage in international trade by marketing its soft drinks in China. What type of opportunity is Coke pursuing?

When AT and T advertises in THE WALL STREET JOURNAL that smartphones using its technology can make calls from more than 200 countries in the world, which market opportunity is AT and T pursuing?

The Wall Street Journal has been trying to attract new customers by promoting its newspaper for student use in business courses. This is an example of

E-Z-Go, a producer of golf carts, promotes its carts to other users by advertising them as an easy and quiet way for workers to get around malls, airports, and big factories. E-Z-Go is trying to increase its sales through

To compete more successfully with its many competitors offering packaged cookies, Famous Amos added its own line of "extra chunky" premium cookies. This seems to be an effort at:

An Embassy Suites hotel offers an inexpensive "Family Luncheon Buffet" on Sundays to get customers for its restaurant that is filled by business travelers during week days. This effort to get new customers for the available facility is an example of

When a company expands globally, this is an example of:

When a firm tries to increase sales by selling its present products in new markets, this is called:

An Australian wine producer, facing declining sales at home, set up a new channel of distribution to sell wine in the United States. This seems to be an effort at

In an effort to increase its total sales, Champion has started exporting its spark plugs for use by several German auto producers. Champion is pursuing a ______________ opportunity.

A mail-order marketer of flower bulbs to gardening hobbyists decides to sell the bulbs in grocery stores--to reach nonhobbyists who might be interested in pretty flowers. This is an example of: