You Can Help Your Organisation Succeed in Ensuring Customers Come

question 1

Multiple Choice

You can help your organisation succeed in ensuring customers come back by:

• A) knowing what products or services your competitor offers
• B) recognising the differences between what the customer's needs and desires are compared to your own
• C) understanding the characteristics of your products or services
• D) maximising every revenue-earning opportunity by selling extras a customer does not want

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Definitions:

Positioning Studies

Research activities aimed at analyzing how a brand or product is perceived in the market relative to competitors, and identifying a strategy to occupy a distinctive place in the minds of consumers.

Marketing Mix Actions

Decisions and actions related to the four Ps (Product, Price, Place, Promotion) that a company takes to appeal to its target market.

Resource Allocation

The process of distributing available resources among various projects, tasks, or investments, according to strategic priorities and goals.

Strategic Marketing Process

A deliberate approach involving the planning, development, and execution of marketing strategies to achieve business objectives and satisfy customer needs.