Strategic Marketing: New Market Entry Strategies
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Questions and Answers

What is the primary objective of marketing in the introduction stage of the PLC?

  • To reduce costs
  • To develop a narrow product line
  • To create product awareness (correct)
  • To maximize profits

    • What percentage of new products are new-to-the-world products?

  • 7%
  • 26%
  • 20% (correct)
  • 10%

    • What is the primary goal of advertising in the introduction stage of the PLC?

  • To maximize profits
  • To build awareness among the general public
  • To reduce costs
  • To build awareness among early adopters/dealers (correct)

    • What percentage of new products are revisions/improvements to existing products?

    <p>26%</p> Signup and view all the answers

    What is the typical pricing strategy in the introduction stage of the PLC?

    <p>Often introductory, i.e. cost-plus</p> Signup and view all the answers

    What is the primary reason for a new market entry?

    <p>To create a new market opportunity</p> Signup and view all the answers

    What is the primary objective of maintaining a position as a product innovator?

    <p>To defend a current market-share position</p> Signup and view all the answers

    What is the primary goal of exploiting technology in a new way?

    <p>To create new-to-the-world products and a new product line</p> Signup and view all the answers

    What is the primary objective of using excess or off-season capacity?

    <p>To create new-to-the-world products and a new product line</p> Signup and view all the answers

    What is the primary goal of new entry strategy?

    <p>To create new-to-the-world products</p> Signup and view all the answers

    Which of the following strategies is driven by innovation?

    <p>Wealth creation strategies</p> Signup and view all the answers

    What drives the business according to Intel VP?

    <p>Technology and paranoia</p> Signup and view all the answers

    What is the main challenge in today's business world according to Gary Hamel?

    <p>To innovate and reinvent the core of the company</p> Signup and view all the answers

    What percentage of product sales come from new products launched in the past 5 years?

    <p>33%</p> Signup and view all the answers

    What percentage of new products are unsuccessful?

    <p>68%</p> Signup and view all the answers

    How many new product ideas are needed to generate one successful new product?

    <p>7</p> Signup and view all the answers

    What percentage of product development and commercialization resources are spent on unsuccessful products?

    <p>46%</p> Signup and view all the answers

    What type of market position is characterized by being the first to enter a new market?

    <p>Pioneer</p> Signup and view all the answers

    What is a key advantage of firms that take an initial competitive action?

    <p>They can earn above average profits until competitors respond</p> Signup and view all the answers

    What is a potential source of pioneering advantage?

    <p>Defining the rules of the game</p> Signup and view all the answers

    What is a condition for a pioneering firm to achieve long-term success?

    <p>The new product-market is insulated from the entry of competitors</p> Signup and view all the answers

    What is a characteristic of a 'Fast' Follower?

    <p>They evaluate customers' response before moving</p> Signup and view all the answers

    What is a benefit of being a Follower?

    <p>They can avoid some of the risks associated with First Move</p> Signup and view all the answers

    What is a requirement for a Follower to be successful?

    <p>They must possess necessary capabilities to imitate</p> Signup and view all the answers

    What is a key advantage of a follower strategy?

    <p>Taking advantage of the pioneer's positioning mistakes</p> Signup and view all the answers

    Which of the following is an example of a cloner follower strategy?

    <p>The IBM PC clones</p> Signup and view all the answers

    When is a follower most likely to succeed?

    <p>When there are few legal, technological, or financial barriers to entry</p> Signup and view all the answers

    What is the goal of a mass-market penetration strategy for pioneers?

    <p>To gain a large share of the total market</p> Signup and view all the answers

    What is a key factor in determining the success of a pioneer's marketing strategy?

    <p>The customer, market, and company factors</p> Signup and view all the answers

    Which of the following is an illegal follower strategy?

    <p>Counterfeiting</p> Signup and view all the answers

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