The Competitive Actions and Responses That Form a Standard-Cycle Market's

question 18

Multiple Choice

The competitive actions and responses that form a standard-cycle market's competitive dynamics are designed to seek large market shares, to gain customer loyalty through _______ and ________.

• A)brand names; to control their operations in order to consistently provide the same positive experience for customers
• B)brand names; to maintain efficiencies
• C)better values; to control their operations in order to consistently provide the same positive experience for customers
• D)better values; to maintain efficiencies

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Definitions:

Dodge Technique

A strategy used in discussions or negotiations to avoid directly answering a question or addressing a challenging issue.

Objection

A reason or argument presented in opposition to a suggestion, claim, or action; in sales, refers to potential concerns or hesitations raised by a prospect.

Price/Value Formula

A concept in marketing that compares the cost of a product to its perceived value to the buyer, influencing the purchase decision.

Price Objection

A price objection is a customer's resistance or reluctance to purchase a product or service based on its cost, expressing concerns over value or affordability.