245. Consider Figure 2-5 above. A family owns a gelato business in a small town square next to a (p. 35) park, a favorite place for parents and children to stop on their way home from work or school. However, the business owner is barely making ends meet. He purchases a refrigerated cart and takes gelato to the local baseball and softball fields where he sells it to the teams and their fans. Sales of gelato soar and profits begin to rise. This is an example of a __________ strategy that would be found in quadrant __________. Market development is a marketing strategy to sell current products to new markets (C), the situation here. See Figure 2-5. AACSB: Knowledge Application Blooms: Apply Learning Objective: 02-04 Discuss how an organization assesses where it is now and where it seeks to be. Level of Difficulty: 3 Hard Topic: Diversification 246. Quadrant D in Figure 2-5 above represents the marketing strategy of __________. (p. 35) Diversification is a marketing strategy of developing new products and selling them in new markets. See Figure 2-5. AACSB: Analytical Thinking Blooms: Understand
245. (p. 35) Consider Figure 2-5 above. A family owns a gelato business in a small town square next to a park, a favorite place for parents and children to stop on their way home from work or school. However, the business owner is barely making ends meet. He purchases a refrigerated cart and takes gelato to the local baseball and softball fields where he sells it to the teams and their fans. Sales of gelato soar and profits begin to rise. This is an example of a __________ strategy that would be found in quadrant __________. Market development is a marketing strategy to sell current products to new markets (C), the situation here. See Figure 2-5. AACSB: Knowledge Application Blooms: Apply Learning Objective: 02-04 Discuss how an organization assesses where it is now and where it seeks to be. Level of Difficulty: 3 Hard Topic: Diversification 246. (p. 35) Quadrant D in Figure 2-5 above represents the marketing strategy of __________. Diversification is a marketing strategy of developing new products and selling them in new markets. See Figure 2-5. AACSB: Analytical Thinking Blooms: Understand