A company's opportunities and threats result from ________.
A) changes in consumer preferences
B) the company's core competencies
C) the location of the company
D) assets and financial performance
E) key personnel
Question 2When company leaders choose to continue selling more of their existing products to the current market, they are choosing the ________.
A) product development strategy
B) market development strategy
C) diversification strategy
D) market penetration strategy
E) transaction strategy
Question 3Greensville-based Agile Shoes makes shoes exclusively for kids and sells all its products within the region. To increase sales, the company begins an extensive advertising campaign targeted at parents of children in Greensville schools.
Which of the following market strategies is the company using?
A) transaction strategy
B) market penetration strategy
C) diversification strategy
D) market development strategy
E) product development strategy
Question 4When a firm chooses to adapt its current products to a new mission, it is using a ________.
A) market penetration strategy
B) market development strategy
C) diversification strategy
D) differentiation strategy
E) product development strategy
Question 5After 40 years of manufacturing socks for toddlers and children below the age of 5, RightSock Company decided to increase its sales by developing products for adults. Which of the following strategies did the company use to increase growth?
A) differentiation strategy
B) diversification strategy
C) product development strategy
D) market penetration strategy
E) market development strategy
Question 6Which of the following is true of an open system?
A) The internal environment of an open system has no influence on the outside environment.
B) The operations of an open system are not influenced by its surroundings.
C) The elements of an open system are interdependent, but not interconnected.
D) The elements of an open system are affected by the external environment.
E) An open system is made up of interconnected elements.
Question 7Which of the following pairs of products are substitute goods?
A) toothbrushes and toothpastes
B) tea and sugar
C) pencils and erasers
D) margarine and butter
E) DVD players and DVDs
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