Business, 20.02.2020 01:35 poetstyle

It is important that marketers be able to identify which strategy a competitor is using so that they better understand how to position their own products and services. You will see a list of recent or potential strategic decisions made by large firms, and your job is to identify which type of strategy was used in each example.

While there are a variety of strategies across industries, most fall under four basic categories. Market penetration strategies emphasize selling more of existing products and services to existing customers. Product development strategies involve creating new goods or services for existing markets. Market development strategies focus on selling existing products or services to new customers. The targeted new customers could be a different gender, age group, or international market. Finally, diversification strategies involve offering new products that are unrelated to the existing products produced by the organization.

Select the most appropriate category of emotional intelligence for the 8 behaviors below.

1. Arm and Hammer selling baking soda for new purposes
Market development Correct

2. Apple opening mini-stores within Target
Market penetration Correct

3. Disney purchasing ESPN
Diversification Correct

4. Dominos promoting buy 1 pizza, get a second pizza half price
Market penetration Correct

5. Burger King developing a new breakfast menu
Product development Correct

6. Nintendo Wii products targeted at senior citizens as a way to stay active indoors
Market development Correct

7. Ford developing the Ford Escape Hybrid SUV
Product development Correct

8. Microsoft buying a snack food company
Diversification Correct

Answers: 2

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