8. These objectives are often the most suitable when firms operate in market dominated by a major competitor and where their financial resources are limited A. Niche B. Hold C. Harvest D. Divest 9. When companies make marketing decisions by considering consumers wants and the long-run interests of the company, consumer, and the genera population, they are practicing which of the following principles? A. Innovative marketing B. Consumer-oriented marketing C. Value marketing D. Societal marketing 13. Market expansion is usually achieved by: A. More effective use of distribution B. More effective use of advertising C. By cutting prices D. All of the above are suitable tactics 14. Diversification is best described as which of the following? A. Existing products in new markets B. Existing products in existing markets C. New products for new markets D. New products for existing markets 15. Today's marketers need A. Neither creativity nor critical thinking skills B. Both creativity and critical thinking skills C. Critical thinking skills but not creativity D. Creativity but not critical thinking skills 16. Which of the following is a strategic marketing planning to A. The market share/market growth (BCG) matrix B. The consumer scanning model C. A market vulnerability/business opportunity matrix D. Market sheet analysis B. Captive-product pricing C. By-product pricing D. Product line pricing 1. The holds that consumers will favor products that are vailable and highly affordable (therefore, work on improving production and distribution efficiency). A. Product concept B. Production concept C. Production cost expansion concept D. Marketing concept 12. Newsletters, catalogues, and invitations to organization-sponsored events are most closely associated with the marketing mix activity of-- A. Pricing B. Distribution C. Product development D. Promotion