MKT 300 Chapter 2 questions and answers graded A+

MKT 300 Chapter 2 questions and
answers graded A+

strategic planning - correct answer ✔✔the managerial process of creating and maintaining a fit
between the organization's objectives and resources and the evolving market opportunities



strategic business unit (SBU) - correct answer ✔✔a subgroup of a single business or collection
of related businesses within the larger organization



market penetration - correct answer ✔✔a marketing strategy that tries to increase market
share among existing customers



market development - correct answer ✔✔a marketing strategy that entails attracting new
customers to existing products



product development - correct answer ✔✔a marketing strategy that entails the creation of new
products for present markets



diversification - correct answer ✔✔a strategy of increasing sales by introducing new products
into new markets



portfolio matrix - correct answer ✔✔a tool for allocating resources among products or strategic
business units on the basis of relative market share and market growth rate



star - correct answer ✔✔in the portfolio matrix, a business unit that is a fast-growing market
leader