Marketing and Operations - Marketing quiz

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1. What is the difference between Product Development and Market Development?

  • Product development is selling different products to the same people whereas Marketing development is targeting new markets with the same product.
  • Product development is selling the same products to the same people whereas Marketing development is selling the same product to different markets
  • Product development involves the development of new products into new markets whereas Market development involves targeting the same product into new markets
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2. Diversification involves

  • Target new markets with the same product
  • Sell more different products to the same people
  • Sell different products to new/different markets
  • Selling the same products to the same people

3. A high threat of new entrants can

  • Reduce competitiveness
  • Increase competitiveness

4. When incorporating 'marketing development' strategy, an organisation might

  • Target new geographical locations
  • Provide special offers and promotions
  • Offer loyalty schemes
  • Develop new packaging

5. High barriers to exit cause

  • Greater rivalry
  • Lesser rivalry
  • Same
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