In Monopolistic Competition, sellers try to develop differentiated offers for different customer segment True False

Q: Explain the steps involved in the typical consumer purchase. Also discuss what can happen following…

A: The steps involved in the typical consumer purchase as follows: 1. Identifying the problem: This is…

Q: Because buyers are not highly committed to any brands, marketers of low-involvement products with…

A: Because buyers are not highly committed to any brands, marketers of low-involvement products with…

Q: How can a company differentiate and position itself as providing superior customer value

A: Positioning and differentiation are inextricably linked. Effective product or service positioning is…

Q: The first step in implementing the marketing concept is to provide a product that satisfies…

A: its False   Identification and Defining the Problem: The market research process begins with the…

Q: Definition of a market Charateristic

A: Market refers to a place which facilitates trade. It can be described as a platform where sellers…

Q: Discuss THREE importance of marketers to understand their customers’ pre-purchase processes.Provide…

A: The consumer decision-making process involves consumers becoming aware of and identifying their…

Q: A purchasing organization's buying center makes decisions. It includes gatekeepers, initiators,…

A: In the context of a university buying a new textbook, the gatekeeper could be the administrative…

Q: Describe the way marketers typically measureproduct mixes and make product mixdecisions.

A: The product mix is also known as product assortment, refers to the total number of product orders a…

Q: What is the difference between ultimate consumers and organizational buyers?

A: Ultimate consumers: It means the people who bought the goods and services to use for their own use.…

Q: Define Test marketing?

A: Test marketing means testing the product on the market prior to the large-scale commercialization of…

Q: Discuss the activities that takes place in Business Markets and the processes associated with…

A: Business markets are very different from consumer markets, not only in terms of the products and…

Q: What do most U.S. consumers do online?

A: Most U.S. customers shop online.

Q: describe the need versus the want for the following product : Honda bike

A: Needs and Wants are the two most studied terms in both the Economics and Marketing subjects because…

Q: What factor is estimated or measured for each of the cells in a market- product grid?

A: A market product grid is called an Ansoff Matrix or an item market extension lattice. Organizations…

Q: All consumer buying decisions generally fall along a continuum of three broad categories. Name them?

A: Consumer decision making is all about identifying the needs and based on that information search is…

Q: Discuss approaches that a company can use to rectify a weakness in its customer value proposition.

A: Customer value proposition- A business way of creating value in its product and service while…

Q: What is meant by comparison discounting?

A: Determining the present value of a future payment or stream of payments is known as discounting.…

Q: Elucidate the factual notion, that Market penetration is a measure of how much a product or service…

A: Market penetration delineates a corporate maneuver geared towards amplifying the market dominance…

Q: Discuss a purchase made based on product influences, price influences, promotion influences or place…

A: The decision-making processes and activities of persons involved in the purchase and usage of…

Q: Discuss the role of product marketing in driving demand for and adoption of a product among existing…

A: Product marketing refers to the subfield of marketing which is mainly concerned with creating demand…

Q: Make up three different situations in which Brand Loyalty would be an independent variable, a…

A: More profit is for the company as more loyal the customers are. Marketers cannot just easily create…

Q: What is the difference between ultimate consumers and organizational buyers?

A: Customers can be referred to as those people who become the purchaser of the product offered by a…

Q: What is a market size

A: The market is the structure that comprises buyers and sellers for the exchange of goods as per the…

Q: Which one of the following does not include in the task environment of an organization?…

A: Which one of the following does not include in the task environment of an organization?…

Q: Why customers orientation is important to seller ?

A: Introduction : A business strategy known as "customer orientation" prioritizes the demands of the…

Q: Explain the Buying Situations. Give practical example for each.

A: There are three types of buying situation Straight Rebuy, Modified Rebuy and New Task

Q: Use a brand (e.g. Cathay Pacific) or a rewards club (e.g. yuu) to illustrate the concepts of…

A: Instrumental or Operant conditioning in marketing is basically an effort taken by marketers to…

Q: When consumers' income increases and they purchase more a product, the product is a/an O inferior…

A: Consumer is the ultimate focus of all the marketing activities because company provide goods and…

Q: Elaborate what are the key considerations when choosing the right brand positioning strategy for a…

A: About Brand Positioning - Brand positioning is a type of concept that is described as a kind of…

Q: orientation is important to seller ?

A: Modern marketing is consumer-oriented marketing that shapes the business strategy as per the wish,…

Q: Name the Traditional model buyer -seller relationship?

A: Consumer Behavior plays an integral part in understanding the buyer's behavior and formulating…

Q: What is a price? How does the price of a productdiffer from the cost of the product to the consumer?

A: Price is an element/component of the marketing mix. It is described as the amount of money need to…

Q: Discuss critically the determinants of customer perceived value. Give examples to support your…

A: Customer perceived value is a crucial concept in marketing that reflects customers' assessment of…