When Faced with a Competitor Who Has Cut Its Product's

question 108

Multiple Choice

When faced with a competitor who has cut its product's price,which of the following is typically the most cost-effective way for a company to maintain its own price but raise the perceived value of its offer?

• A) improving the quality of the product
• B) introducing a higher-priced premium brand
• C) altering the company's marketing communications
• D) bundling the offer with add-ons
• E) distributing the product through less costly channels

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Definitions:

Counseling

A professional guidance process through which individuals receive assistance and support to resolve personal, social, or psychological challenges and issues.

Corporal Punishment

A form of physical discipline that involves the deliberate infliction of pain as retribution for an offence, or for the purpose of disciplining or reforming a wrongdoer.

Legal

Pertaining to the system of rules that a particular country or community recognizes as regulating the actions of its members and may enforce by the imposition of penalties.

Educational Neglect

A form of child neglect where a caregiver fails to ensure a child receives adequate education either by not enrolling the child in school or not addressing their educational needs.