Consumer product knowledge Brand recognition Cost effectiveness Advertising as

Consumer product knowledge brand recognition cost

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Consumer product knowledge Brand recognition Cost-effectiveness Advertising as a percentage of sales 28. Which of the following is not an example of the options available for persuading customers to buy the organisation's product or service? Personal selling Public relations and sponsorship Technical promotions Price reductions Consumer promotions 29. What two considerations are central to pricing decisions? Incomes and value for money Profits and sales volume Price elasticity and product life cycle stage Costs and competitor's prices 30. What is meant by the term 'target pricing'? Target pricing is the setting of prices to match competitors and then setting internal cost targets that must be met to deliver a product to market at the set price Target pricing is the setting of price to match the target segment at which the product is aimed Target pricing involves setting prices in line with profit and sales targets of the organisation 31. Who's famous article 'The globalisation of markets', published in 1983, argued that the world's tastes are homogenizing due to the global availability of low-priced quality products? Michael Porter Kenichi Ohmae Theodore Levitt Richard Whittington 32. Which of the following is not a benefit of using the emergent approach to be developing a customer-driven strategy? Page 17 of 75
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MANAGING STARTUPS Employs the innovative conceptual approaches Helpful in the context of unmet customer needs Can be used to ensure that customer service and quality are continually improved Provides greater clarity and precision in analysis of market 33. Which of the following is not an aspect of customer profiling? Clarifies the organisation's strengths when faced with customers who wish to switch to rival products Shows why customers prefer one product or service rather than another Provides a basic understanding of the customer that is crucial to strategy development Identification of gaps in segment provision may provide the basis of new strategic opportunities 34. Competitive positioning has four main steps. The first two are perceptual mapping and positioning. Which of the following are the final two steps? Understanding the customer and responsiveness Identification and evaluation of segment Incumbency and information signaling Options development and testing 35. 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 its competitors The identification of specific groups of customers who respond differently from other groups to competitive strategies A specific name or symbol used to distinguish a product or service from a functional product Will be determined by a balance of factors under the general headings of costs and competitor analysis 36. Which of the following is not a consideration of international customer analysis?
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