Refer to the Passage Below to Answer the Questions That

question 121

Essay

Refer to the passage below to answer the questions that follow.
Kraft is known for its cheese products,but the company also manufactures several consumer packaged goods products,such as mayonnaise,salad dressing,barbecue sauce,macaroni and cheese,and other types of food products sold in grocery stores.A large portion of Kraft's marketing communication budget is spent on incentives such as sales contests and retail kits.
-What type of promotion could Kraft provide to retailers to call their customers' attentions to Kraft's products?

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Definitions:

Market Development

The process of entering new markets or increasing sales in existing markets through strategic marketing efforts.

Market Penetration

The degree to which a product or service is recognized and purchased by customers in a particular market, often used as a measure of success.

Product Development

The process of designing, creating, and marketing new products or improving existing ones to satisfy customer needs and gain a competitive advantage.

Diversification

A risk management strategy that mixes a wide variety of investments within a portfolio.