48. marketing planning is the process of examining the organization's ourrent overall marketing situation, assessing future opportunities, setting objectives and then daveloping a plan to achieve those objectives. B) Strategic C) Micro E) Targe 49. Campbell's Soup advertises new ways for the ir customers to use their canned soups, such as in casseroles or as sauces, in order to get their customers to buy more soup. This strategy is knon as. A) undifferentiated marketing B) product development C) diversification D) market development E) market penetration 50. After selling its electronic controls successfully to U.S. appliance manufacturers for several years, the company decided to open sales offices in Italy and Gemany in an effort to gain market share in Europe. This strategy is krnown as A) market penetration B) market development C) product development D) diversification E) undifferentiated marketing 51. Grouping customers with similar characteristics, behaviors and needs is known as market A) Penetration C) Diversification D) Channeling E) Research 52-There are two gasoline stations in a small town. Station A had annual sales last year of $675,000. Station B had annual sales of S428,000. Station A has larger market A) differentiation B) customization C) potential D) facus E) share 53. Marketers know that Saturday morrnings are prime time for children to watch cartoons, so most commercials advertise toys. This is an example o targeting a market on the basis ot A) socioecononic status C) behavior E) demographics 54.A large hotel chain decorates its rooms and lobby according to where the hotel is located. In lange cities, the hotels are more cosmopolitan. In smaller towns and in rural areas, the rooms and lobby are more 'homey The hotel chain is segmenting the market on the basis of. A) Technology B) Demographics C) Psychographics E) consumer behavior 55. A comipany that choos8s aan marketing strategy offers only one product or product line and uses the same pricing, communication and distribution strategies to all potential buyers. A) Undifferentiated B) Concentrated C) Difterentiated D) Individualized E) positional 56. A former General Motors CEO once said that the company made 'a car for every purse, purpose and personality". This would be an example ofmarketing. A) Difterentiated C) Undifferentiated D) Concentrated E) Individualized 57. A company that focuses on only a single market segment has aan marketing strategy B) Differentiated D) Individualized