When Facing Intense Competition,which of the Following Would Be the Best

question 202

Multiple Choice

When facing intense competition,which of the following would be the best advice to give a marketing manager?

• A)Focus on differentiation.
• B)Give up and price the same as competitors.
• C)Seek to achieve the benchmark price.
• D)Provide customers with allowances.
• E)Institute a one-price policy.

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Definitions:

Product Knowledge

The understanding and information a company or individual has about a product’s features, benefits, application, and use.

Demographic Segmentation

The process of dividing a market into segments based on demographic factors such as age, gender, income, education, and ethnicity to better target marketing efforts.

Lifestyle

A way of life or style of living that reflects the attitudes and values of a person or group.

Segmentation Bases

Criteria used to divide a market into discrete customer groups based on shared characteristics.