A mobile manufacturer decides to reduce the price of its latest line of smartphones, which are not the cheapest but have features that are popular among most users. Which strategy is the manufacturer using?
What will be an ideal response?
The best-cost provider strategy gives customers more value for their money by satisfying buyers' expectations on key quality, features, performance, and/or service attributes while beating their price expectations. This option is a hybrid strategy that blends elements of low-cost provider and differentiation strategies; the aim is to have the lowest (best) costs and prices among sellers offering products with comparable differentiating attributes.
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Describe the process of perception and discuss how marketers can influence each component of the perception process
What will be an ideal response?
Which of the following is a limitation of using product placement as an advertising medium?
A) high clutter B) non-captive audience C) low reach D) high costs
Which of the following is a change that should be seen in reaction to the decline in the natural environment?
a) Less tension between economic growth and environmental protection b) Developing nations will continue to imitate consumption of developed nations c) Developed nations will need to change their lifestyles d) MNEs will pursue maximization of profits
Why does a firm choose to implement a statistical quality control regime?
What will be an ideal response?