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242) Quadrant D in Figure 2-5 above represents the marketing strategy of A) market penetration. B) product penetration. C) market development. D) product development. E) diversification. Answer: E Explanation: Diversification is a marketing strategy of developing new products and selling them in new markets. See Figure 2-5. Difficulty: 2 Medium 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: Understand AACSB: Analytical Thinking 243) 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. Though based on the same construction bricks and detailed instructions, the line included female characters, pink and purple theme colors, and allowed girls to construct more story-related pieces. The company successfully reached into the girl's toy market where alternatives included princess games and accessories. Considering Figure 2-5 above, this is an example of a ________ strategy that would be found in quadrant ________. A) diversification; D B) market penetration; A C) product development; B D) market development; C E) Product-market evolution; D Answer: D Explanation: Market development is a marketing strategy to sell current products (here, only cosmetic tweaks) to new markets. See Figure 2-5. 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

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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...

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