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:

Extrinsic Motivation

Motivation driven by external rewards such as money, fame, grades, or praise, rather than by intrinsic rewards related to the activity itself.

Self-Disclosure

The process by which individuals communicate personal, private information about themselves to others.

Regularly

Happening at predictable intervals or on a routine basis.

Self-Discipline

The capacity to manage one's emotions and conquer personal shortcomings; the power to follow through with one's beliefs in the face of temptations to give up.