Which are the three ways to change the course for a brand?
What will be an ideal response?
Three ways to change the course for a brand are market, product, and marketing program modifications.
• Market modification: A company might try to expand the market for its mature brand by working with the two factors that make up sales volume: Volume = number of brand users × usage rate per user. This may also be matched by competitors.
• Product modification: Managers also try to stimulate sales by improving quality, features, or style. Quality improvement increases functional performance by launching a "new and improved" product. Feature improvement adds size, weight, materials, supplements, and accessories that expand the product's performance, versatility, safety, or convenience. Style improvement increases the product's esthetic appeal. Any of these can attract consumer attention.
• Marketing program modification: Finally, brand managers might also try to stimulate sales by modifying nonproduct elements — price, distribution, and communications in particular. They should assess the likely success of any changes in terms of effects on new and existing customers.
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To the extent possible, interviewers should be selected ________ since this increases the probability of a successful interview
A) to emphasize a higher income class than respondents B) to match respondents' demographics C) to emphasize a lower income class than respondents D) based primarily on their availability E) based on height and weight tables
If a company’s target market consists of price conscious customers, a company may ______.
A. use slower modes of transportation B. carry low levels of inventory C. carry poor quality goods D. avoid outsourcing entirely
What was the key lesson in Chapter 14's "A Question of Ethics: Targeting Plus-Sized Critics?"
A) Critics can use social media to destroy a company. B) When a company listens, consumers appreciate it. C) Plus-sized models do not make good role models. D) Focus group research should include consumers.
A charterparty is a contract for the hire of an entire ship for a particular voyage or a set period of time
Indicate whether the statement is true or false