c. market development = a growth strategy that employs the existing marketing offering to reach
new market segments, domestic or international not served by the ﬁrm
d.product development strategy = a growth strategy that offers a new product or service to a
ﬁrms current target market
e.g, What is sustainable competitive advantage?
A) A broad description of the ﬁrms objectives and scope of its activities.
B) Tool used to evaluate marketing performance.
C) Something the ﬁrm can consistently do better than its competitors.
D) Written document that discusses competitor strengths and weaknesses, and the
ﬁrms advantages over them.
e.g, Customer excellence focuses on?
A) having products with high perceived value and effective branding and positioning.
B) retaining loyal customers and providing excellent customer service.
C) having a good physical location and Internet presence.
D) efﬁcient operations and excellent supply chain and human resource
e.g, Which of the following refers to a group of consumers who respond similarly to a ﬁrm’s
A) Market segment B) Target market C) Targeting D) Positioning
e.g, Which of the following is NOT considered a marketing growth strategy?
A) Market penetration B) Diversiﬁcation C) Product development
D) Sequential planning
e.g, A diversiﬁcation strategy introduces a new product or service to a market segment that
A) is currently not served
B) includes many ethnicities
C) already exists
D) does not traditionally respond to mixed media
A marketing environment analysis framework————————->
Microenvironmental factors a. Company: Company capabilities
—> Core competency = Satisfy customer needs (People, knowledge,
facilities, patents, technology etc.)
—> applied to Target markets, products etc.
—> Identify and analyze direct and indirect competitors
—> Know strengths & weaknesses
—> Competitive Intelligence (CI) used to collect and synthesize info
c. Corporate partners
—> Firms are part of alliances – few work in isolation
—> Align with suppliers, corporate partners etc.
—> from manufacturer to retailer
Culture = the shared meanings, beliefs, morals, values, & customs of a group of people
—> Country Culture vs. Regional Subcultures
—> Powerful inﬂuences in consumer buying decisions – what they buy, where t