The Five Alternative Marketing Strategies That Can Be Identified by Market-Product

question 231

Multiple Choice

The five alternative marketing strategies that can be identified by market-product grids are __________, market specialization, product specialization, selective specialization, and full coverage.

• A)diversification
• B)selective distribution
• C)product reorientation
• D)market-product concentration
• E)new-product specialization

Understand the strategic marketing process and its key components, including SWOT analysis, market-product focus, goal setting, and marketing program development.

Apply concepts of marketing metrics, including calculating ratios and understanding the importance of marketing return on investment (ROI) and incremental sales analysis.

Recognize the significance of developing a marketing program, including target market selection, positioning, and differentiation.

Identify the tools and information required for effective resource allocation and decision-making within marketing strategies.

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Definitions:

High-end Watches

Luxury watches that embody superior quality, craftsmanship, and design, often representing status and wealth.

Competitive Advantage

A unique attribute or competency a company possesses that enables it to outperform its competitors, providing it with a market advantage.

Brand Loyalty

The tendency of consumers to continuously purchase one brand's products over competing ones due to their trust and satisfaction with the brand.

Rewards Program

A marketing strategy designed to encourage customer loyalty by offering incentives, such as points, gifts, or discounts, for frequent or sizable purchases.