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Difficulty: 2 Medium Learning Objective: 02-05 Outline the implementation of the marketing mix as a means to increase customer value. Topic: Elements of a Marketing Strategy

103.

In 2007, Apple Computer introduced its new iPhone, adding a cellular telephone, a camera, and Internet access to its iPod. The company was pursuing a(n) __________ strategy.

A. market development B. market penetration C. operational excellence D. customer excellence E. product development Apple was creating a new product for its existing customers, which is a product development strategy. Some people might believe that the iPhone wasn't for Apple's existing customers but was for new customers, which would make "diversification" the best answer. But since that answer isn't offered, "product development" is the best of the remaining examples.

AACSB: Knowledge Application Accessibility: Keyboard Navigation Blooms: Apply Difficulty: 3 Hard Learning Objective: 02-07 Describe how firms grow their business. Topic: Growth Strategies

2-116 Copyright Š 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education.

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Test Bank for M Marketing 5th Grewal  

Test Bank M Marketing 5th Edition Grewal 2017 (Test Bank Download) (9781259446290) (1259446298). Instant access. All chapter are included. A...

Test Bank for M Marketing 5th Grewal  

Test Bank M Marketing 5th Edition Grewal 2017 (Test Bank Download) (9781259446290) (1259446298). Instant access. All chapter are included. A...