Under what conditions would a marketer most likely use a price leader strategy?
What will be an ideal response?
Sometimes a firm prices a few products below the usual markup, near cost, or below cost, which results in what are known as price leaders. This type of pricing is used most often in supermarkets and restaurants to attract customers by offering them especially low prices on a few items, with the expectation that they will purchase other items as well. Management expects that sales of regularly-priced products will more than offset the reduced revenues from the price leaders.
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Why is it important to make audience members remember your main points of the speech?
What will be an ideal response?
When a pharmaceutical company develops a new medication, it typically applies for a patent in order to prevent competitors from developing copycat products for several years. Pharmaceutical companies apply for patents to establish
A. product efficiency. B. a sustainable competitive advantage. C. operational excellence. D. an efficient supply chain. E. market penetration growth.
Which of the following is the BEST advice for including objectives in a proposal?
a. List only enough measurable and attainable objectives to accomplish the purpose of selling your proposal. b. Include a generous list of objectives, even though you know that you may not totally achieve all of them. c. Omit an objectives section; a problem statement is sufficient for defining your goals. d. Your proposal has only one objective: to convince the reader that the benefit from your product or service will outweigh the cost.
The Consumer Product Safety Commission (CPSC) is an independent administrative agency. Which statement is correct about the chairperson?
a. The chairperson serves at the whim of the President and can be fired at any time. b. The chairperson can only be fired by the President for good cause. c. The chairperson cannot be fired by the President since the CPSC is an independent agency. d. The chairperson has a lifetime appointment and cannot be fired.