100%(1)1 out of 1 people found this document helpful
This preview shows page 17 - 19 out of 75 pages.
Consumer product knowledgeBrand recognitionCost-effectivenessAdvertising as a percentage of sales28. Which of the following is not an example of the options available for persuadingcustomers to buy the organisation's product or service?Personal sellingPublic relations and sponsorshipTechnical promotionsPrice reductionsConsumer promotions29. What two considerations are central to pricing decisions?Incomes and value for moneyProfits and sales volumePrice elasticity and product life cycle stageCosts and competitor's prices30. What is meant by the term 'target pricing'?Target pricing is the setting of prices to match competitors and then settinginternal cost targets that must be met to deliver a product to market at the setpriceTarget pricing is the setting of price to match the target segment at which the productis aimedTarget pricing involves setting prices in line with profit and sales targets of theorganisation31. Who's famous article 'The globalisation of markets', published in 1983, argued thatthe world's tastes are homogenizing due to the global availability of low-priced qualityproducts?Michael PorterKenichi OhmaeTheodore LevittRichard Whittington32. Which of the following is not a benefit of using the emergent approach to bedeveloping a customer-driven strategy?Page 17of 75
MANAGING STARTUPSEmploys the innovative conceptual approachesHelpful in the context of unmet customer needsCan be used to ensure that customer service and quality are continually improvedProvides greater clarity and precision in analysis of market33. Which of the following is not an aspect of customer profiling?Clarifies the organisation's strengths when faced with customers who wish to switchto rival productsShows why customers prefer one product or service rather than anotherProvides a basic understanding of the customer that is crucial to strategy developmentIdentification of gaps in segment provision may provide the basis of newstrategic opportunities34. Competitive positioning has four main steps. The first two are perceptual mappingand positioning. Which of the following are the final two steps?Understanding the customer and responsivenessIdentification and evaluation of segmentIncumbency and information signalingOptions development and testing35. Which of the following statements best describes the function of a brand?The choice of differential advantage that the product or service will possess against itscompetitorsThe identification of specific groups of customers who respond differently from othergroups to competitive strategiesA specific name or symbol used to distinguish a product or service from afunctional productWill be determined by a balance of factors under the general headings of costs andcompetitor analysis36. Which of the following is not a consideration of international customer analysis?