The Marketing Strategy of Developing New Products and Selling Them

question 315

Multiple Choice

The marketing strategy of developing new products and selling them in new markets is referred to as

• A) product penetration.
• B) product development.
• C) market development.
• D) market penetration.
• E) diversification.

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Definitions:

FICA-OASDI

The Old Age, Survivors, and Disability Insurance part of the Federal Insurance Contributions Act tax, funding Social Security benefits.

FUTA

Stands for Federal Unemployment Tax Act, a United States federal law that imposes a payroll tax on employers to fund state workforce agencies.

SUTA

State Unemployment Tax Act; a type of payroll tax that employers must contribute to state unemployment funds.

Fair Labor Standards Act

A U.S. law that sets minimum wage, overtime pay eligibility, recordkeeping, and child labor standards for full-time and part-time workers.