Marketing Strategies for New & Growth markets Flashcards
To learn all the strategies
Innovative products which are new to the company and consumers are :
A.Improvements in existing products. B.Additions to existing product lines. C.Repositionings. D.Cost reductions. E.New-to-the-world products.
E.New-to-the-world products.
If a company creates new advertising which describes a new application of one of its existing products, what type of new product activity does this represent?
A A line extension.
B.A brand extension.
C.A product improvement.
D.An added feature.
D.An added feature.
Pioneers strategy comprises of :
A.Define the rules B.First choice for customers C.Distribution Advantage D.Economies of scale E.All of the above
E.All of the above
Some successful fast followers are characterised by utilising which of the following?
A.A focus on peripheral markets.
B.Leapfrogging the pioneer’s product technology.
C.A focus on personal selling.
D.Pre-empting the pioneer’s raw materials.
E.Spending more money on market research.
B.Leapfrogging the pioneer’s product technology.
Which type of marketing strategy has as its primary objective to maintain the leading market share position in the total market?
A.Niche penetration. B.Harvesting strategy. C.Defender strategy. D.Skimming and early-withdrawal strategy. E.Mass-market penetration.
E.Mass-market penetration.
Which type of marketing strategy has as its primary objective to maximise the number of triers and adopters in the target market segment?
A.Mass-market penetration. B.Defender strategy. C.Niche penetration. D.Skimming and early-withdrawal strategy. E.Harvesting strategy.
C.Niche penetration.
3M Company- “ We hit fast, price high and get the heck out when me too products pour in” What is this Strategy:
A. Skimming
B. Penetration
C. Niche
Leapfrogging
A. Skimming
When computer software manufacturers virtually give away their new products to computer hardware manufacturers and to universities in the hope of getting more profitable sales of upgrade products in the future, they are counting on:
A. creating better upgrade products to maintain these customers.
B. consumers remembering the good deal they were given.
C. pre-empting their competitors from selling to these consumers.
D. structuring these consumers’ perceptions and future expectations.
E. retaining these customers because of the product’s high learning costs.
E. retaining these customers because of the product’s high learning costs.
Current research now suggests that with regard to being a pioneer:
A. it is the best strategy for firms with ample resources.
B. it is clearly not the best strategy for firms with ample resources.
C. success is not a function of resources, but of skill.
D. it is merely an opportunity for success, not a guarantee.
E. fast followers can sometimes become the pioneer.
D. it is merely an opportunity for success, not a guarantee.
Firms following a ‘market expansion’ strategy may have as one of their objectives to:
A.increase their customer base by focusing its resources on high growth segments.
B.increase their customer base by focusing on creating new products.
C.protect against losses of customers by beating its competitors’ prices.
D.protect against losses of customers by developing its own second entry.
E. increase the rate of purchase of its current customers.
B.increase their customer base by focusing on creating new products.
Firms following a ‘flanker’ strategy may have as one of their objectives to:
A.increase their customer base by focusing its resources on high growth segments.
B.increase their customer base by focusing on creating new products.
C.protect against losses of customers by beating its competitors’ prices.
D.protect against losses of customers by developing its own second entry.
E.increase the rate of purchase of its current customers.
D.protect against losses of customers by developing its own second entry.
The most basic defensive strategy in a growing market is: A.confrontation. B.fortress. C.flanker. D.market expansion. E.contraction.
B.fortress.
Firms following a ‘confrontation’ strategy may have as one of their objectives to:
A.increase its customer base by focusing its resources on high growth segments.
B.increase its customer base by focusing on creating new products.
C.protect against losses of customers by beating its competitors’ prices.
D.protect against losses of customers by developing its own second entry.
E.increase the rate of purchase of its current customers.
C.protect against losses of customers by beating its competitors’ prices.
Firms following a ‘contraction’ strategy may have as one of their objectives to:
A.increase its customer base by focusing its resources on high growth segments.
B.increase its customer base by focusing on creating new products.
C.protect against losses of customers by beating its competitors’ prices.
D.protect against losses of customers by developing its own second entry.
E.increase the rate of purchase of its current customers.
A.increase its customer base by focusing its resources on high growth segments.
Which of the following share growth strategies is appropriate for a challenger when the market is relatively homogenous?
A.frontal attack and leap frog. B.leapfrog and flanking attack. C.flanking attack and encirclement. D.encirclement and frontal attack. E.position defence.
A.frontal attack and leap frog.
