1. Which growth strategy focuses on developing new products for a company's existing markets?
c) Product development
a) Market penetration
b) Market development
d) Diversification
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Other questions in this quiz
2. Which of the following statements best describes ‘descriptive’ market research?
b) Research undertaken in order to establish cause and effect
c) The preliminary exploration of a research area prior to the main data collection stage
d) Research undertaken to profile customer demographics, characteristics and purchase patterns
a) Data which has already been collected by another researcher for another purpose
3. Once the prototype of Wainwright Industries' new riding lawnmower, made especially for women, passes product tests, the next step is ________.
d) Focus group surveys
c) Business analysis
b) Test marketing
a) Commercialization
4. Delia's works to make sure its public relations activities as well as its sales promotions harmonise with its advertising in all aspects. From this information, we can infer that Delia's is using ________.
c) Buzz marketing
b) Integrated marketing communication
a) Word-of-mouth marketing
d) Experiential marketing
5. A competitive advantage that cannot be readily copied by the competition is referred to as a(n) ____ advantage.
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