QUESTION 1

1. Innovative products manufactured by a company for the first time to create an entirely different market for consumers are known as:

		A. product improvements.
		B. product line additions.
		C. new product lines.
		D. new-to-the-world products.

QUESTION 2

1. Which of the following type of marketing strategy is most likely to focus primarily on maintaining leading share position in total market?

		A. Niche penetration strategy
		B. Personal selling strategy
		C. Skimming and early withdrawal strategy
		D. Mass-market penetration strategy

QUESTION 3

1. Which of the following is a market characteristic of a firm following an encirclement strategy?

		A. Homogeneous market with respect to customers needs and purchase criteria
		B. Relatively heterogeneous market with many specialized segments
		C. Presence of only two distinct market segments
		D. Homogenous market with respect to customers demand criteria

QUESTION 4

1. HCB Computers is a software consulting firm. The company decides to launch a GSM based Smartphone, the first hardware product by the company, to capitalize on the increasing demand for smartphones. This is an example of a(n):

		A. introducing a new product line.
		B. addition to existing product line.
		C. new-to-the world product.
		D. improvement of the existing product.

QUESTION 5

1. Which of the following market characteristics is most likely to be associated with the niche marketing strategy?

		A. Slow customer adaptation of new products
		B. Limited potential demand
		C. Homogeneous customer needs
		D. Different applications and benefit segments

QUESTION 6

1. A flank attack is most appropriate when:

		A. there is relative homogeneity in the selected segment.
		B. there is relative homogeneity in multiple segments.
		C. the market can be broken into two or more large segments.
		D. several underdeveloped segments exist in a market.

QUESTION 7

1. Which of the following strategic elements is a characteristic of successful pioneers?

		A. Small entry scale
		B. High promotional expenditure
		C. Up-to-date technology
		D. Narrow product line

QUESTION 8

1. Which type of marketing strategy has as its primary objective to maximize the number of triers and adopters only in a particular targeted market segment?

		A. Mass-market penetration strategy
		B. Niche penetration strategy
		C. Skimming and early withdrawal strategy
		D. Harvesting strategy

QUESTION 9

1. Which of the following advantages of a pioneer is best reflected in the idea that the pioneers actions set standards for quality, price, and post-sale service which subsequent entrants must either meet or beat?

		A. Economies of scale
		B. High switching costs
		C. Distribution advantage
		D. Defining the rules of the game

Ques 10

A(n) _____ strategy involves targeting several smaller untapped or underdeveloped segments in the market simultaneously.

		A. encirclement
		B. frontal attack
		C. leapfrog
		D. flank attack