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224) 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 Answer: C Explanation: 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. Difficulty: 3 Hard Topic: Developing a Competitive Strategy Learning Objective: 02-04 Discuss how an organization assesses where it is now and where it seeks to be. Bloom's: Apply AACSB: Knowledge Application Accessibility: Keyboard Navigation 225) 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. Answer: C Explanation: Text term definition—market development. See Figure 2-5. Difficulty: 1 Easy Topic: Developing a Competitive Strategy Learning Objective: 02-04 Discuss how an organization assesses where it is now and where it seeks to be. Bloom's: Remember AACSB: Analytical Thinking Accessibility: Keyboard Navigation

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Test Bank for Marketing 14th Kerin  

Test Bank Marketing 14th Edition Kerin 2019 (Test Bank Download) (9781259924040) (1259924041). Instant access. All chapter are included. All...

Test Bank for Marketing 14th Kerin  

Test Bank Marketing 14th Edition Kerin 2019 (Test Bank Download) (9781259924040) (1259924041). Instant access. All chapter are included. All...