📢 Too many exams? Don’t know which one suits you best? Book Your Free Expert 👉 call Now!

    Question

    If a bank reduces marketing efforts for a declining

    product but keeps it available, it is applying:
    A Diversification Correct Answer Incorrect Answer
    B Harvesting strategy Correct Answer Incorrect Answer
    C Product development Correct Answer Incorrect Answer
    D Market penetration Correct Answer Incorrect Answer
    E Concentrated targeting Correct Answer Incorrect Answer

    Solution

    Harvesting reduces promotional spending while extracting remaining profits. Why others are incorrect: Diversification adds new products; Product development introduces new offerings; Market penetration increases share; Concentrated targets niche. Banking Example: Minimal promotion of traditional passbook-only accounts.

    Practice Next
    More Basics of Marketing Management Questions

    Relevant for Exams:

    ask-question