One of Your Classmates Asserts That Advertising, Marketing Research, and Brand

question 226

Multiple Choice

One of your classmates asserts that advertising, marketing research, and brand management are redundant expenditures because a firm can obtain the same information by simply looking at what customers are already buying.Which of the following is not a response you might offer her?

• A)Conducting market research is a good way for firms to keep abreast of changing consumer tastes and preferences.
• B)Advertising and brand management allow a firm to create an entry barrier which will insulate the firm from competition and from undertaking further product innovations.
• C)Marketing research could allow a firm to identify new market opportunities and at least, in the short run, a firm can make a profit supplying products to this market segment.
• D)If a firm successfully manages its brand, customers become less price sensitive as they perceive fewer substitutes for the firm's brand.

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Definitions:

Personal Brand

The unique combination of skills, experiences, and personality that one wants to convey to others, often for professional purposes.

First Impression

The immediate reaction or opinion formed upon meeting someone or encountering something for the first time.

Dynamic Blend

A mix or combination of elements that is constantly changing or evolving, often resulting in a unique outcome.

Poise

The quality of being calm, composed, and self-assured, especially in challenging or demanding situations.