Differentiation is most likely to be successful (in generating economic value) in which of the following scenarios? Group of answer choices Buyers have low switching costs Products are typically standardized Customers are homogenous None of the options

Differentiation is most likely to be successful (in generating economic value) in which of the following scenarios? Group of answer choices Buyers have low switching costs Products are typically standardized Customers are homogenous None of the options

Principles Of Marketing

17th Edition

ISBN:9780134492513

Author:Kotler, Philip, Armstrong, Gary (gary M.)

Publisher:Kotler, Philip, Armstrong, Gary (gary M.)

Chapter1: Marketing: Creating Customer Value And Engagement

Section: Chapter Questions

Problem 1.1DQ

See similar textbooks

Related questions

Q: What is a test market, and what are the three kinds?

A: Markets tested for a new product launch is called the process of test marketing. Test marketing is d...

Q: The case highlights how Baby Boomer womenare largely invisible and forgotten by marketers,especially...

A: Depending upon the date of birth we have divided the entire market into various segments. There are ...

Q: Describe an organization’s marketing department and the role of a product manager.

A: One of the challenges of professions in product management and product marketing is that most indivi...

Q: Explain how data analytics and data mining lead to marketing actions.

A: ICT is defined as a technology used for telecommunications, audio and visual manufacturing, and netw...

Q: What are the factors that influence cell phone mobile plan pricing?

A: In the sphere of trade, one of the most essential elements is pricing. The term "commodity pricing" ...

Q: Service inseparability means that the quality of services depends on who provides them, as well as w...

A: Marketing of services is also an important aspect. There are various which help in deciding the cour...

Q: Describe what is a good ? What are the differences between tangible and intangible product?

A: Goods - Goods include merchandise, supplies, raw materials, and completed items. All commodities tha...

Q: Example of a company which uses B2B: Explain the firm and why it is an example of the particular bus...

A: B2B or business-to-business is a type of business model where exchange of goods or services occur be...

Q: What kind of website is PizzaHut.com?

A: A website is an amalgamation of related materials that may include text, photos, video, audio, or ot...

Q: Where do (a) marketing synergies and (b) R&D–manufacturing synergies appear when using the syner...

A: The concept of synergy would be that the total worth as well as achievement of two companies would b...

Q: MIS ─ INFORMATION NEED AND OBJECTIVE 5. MIS ─ MAJOR ENTERPRISE APPLICATIONS 6. MIS ─ INT...

A: MIS - Without a question, information processing is the main industry of the twenty-first century. T...

Q: Explain what makes an effective marketing plan.

A: Marketing plan involves essense that would attract customers and how to have cordial relationship wi...

Q: How does a group differ from a reference group?

A: The methods in which the study of consumer behavior helps marketers are: • It helps them to forecast...

Q: Explain what makes an effective marketing plan

A: Marketing planning is helps the business to ensure what actions to be performed for metting both bus...

Q: Which channel and intermediaries will provide the best coverage of the targetmarket?

A: A target market is a set of people identified as possible clients for a company's products based on ...

Q: Why can an “insignificant point of difference” lead to new-product failure?

A: Services are different from the products. Where products are marketed for their consumption after th...

Q: What is the cost leadership strategy?

A: Cost leadership strategy: Cost leadership is a pricing strategy implemented by a firm to gain compe...

Q: What determines the likelihood that a consumerwill seek information from an opinion leader?

A: Opinion leaders are said to individuals who gives their opinion about certain product or brands to p...

Q: True or False: Each market segment responds to different types of media (e.g. print, direct mail, et...

A: A market segment consists of people who have similar taste and preferences. Media is a medium used t...

Q: How does marketing shape consumers needs and wants? Please provide detail.

A: Humans always have some needs and desires. marketing will so have a big impact on what buyers purcha...

Q: You are the newly appointed Brand Executive of a body lotion at Unilever. The company is planning to...

A: Global competition pushes organizations always to seek methods to improve their products/services in...

Q: Successful catalog retailers often send _______________ catalogsto _______________ markets identifie...

A: Retailers are known for selling goods in small quantities near localities and markets. These busines...

Q: DESCRIBE NIKE'S MARKETING COMMUNICATION STRATEGY

A: Nike is an American global business that designs, develops, manufactures, and markets footwear, clot...

Q: . How does a nonfamily household differ from afamily household?

A: The purchase decision making is studied as the part of consumer behavior as it shows the consumers' ...

Q: Compare and contrast Twitter and Snapchat

A: Social media in the modern marketing era is a must have tool for marketing. Today, it plays an essen...

Q: What are the major challenges to organisations with regard to information technology governance and ...

Q: Name: Floward (flowers Market) Create a campaign for your company to launch, starting January 2021 ...

A: Marketing campaigns are created by companies to achieve the marketing goals and build and retain cus...

Q: Describe one or two lessons from Lockheed Martin’s Skunk Works that can be applied to implementing m...

A: Lockheed's chief engineer was Clarence "Kelly" Johnson. Skunk Works was a particular name, that was ...

Q: How are choiceboard and personalization systems used in the PizzaHut.com website?

A: Attributes of PizzaHut.com website: 1. PizzaHut.com is a promotional website that promotes its produ...

Q: The world is now experiencing environmental crises, as a student What conservation/reduction measure...

A: The physical surrounding and settings in which we live are referred to as the environment. Regrettab...

Q: The consumer-initiated practice of generating content on a marketer’s website that is custom tailore...

A: The customer have become the centre part in every product development and marketing strategies devel...

Q: Explain the importance of the Hamada equation.

A: The Hamada equation differentiates investment risk from market risks during a leveraged organization...

Q: For Avon beauty company Define the area of alignment, as well as the magnitude and pace of change of...

A: About Avon Company - Avon is a firm that brings people together through beauty, sharing enthusiasm, ...

Q: Explain why there is an approach that states that spending on advertising is a barrier to entry into...

A: Barriers to entry - Barriers to entry are constraints in economics that make it difficult for a comp...

Q: How does marketing shape consumers needs and wants? Please explain.

A: We all have to eat, beverage, breathe, sleep, and have a place to live as humans. We both have some ...

Q: how are changes in technology changing the way you personally interact with distribution? write abo...

A: what is distribution Distribution means spreading the product overall to the marketplace which means...

Q: Carolanne is a hairstylist who is opening a hair salon in downtown Victoria. A. Explain to her what ...

A: In marketing, the strategy of creating a unique position in the mind of the customer about a product...

Q: What are the five categories of product adopters in the diffusion ofinnovations?

A: Adopter Categories - Adopter categories separate customers into segments on their willingness to try...

Q: Company Name: Floward (flowers Market) Create a campaign for your company to launch, starting Janua...

A: Digital Marketing - As more businesses embrace digital expansion of their brands and industries, the...

Q: The glass water bottle of Via by Tannourine is defined by consumer's as "night club fancy water". Th...

A: The glass water bottle of Tannourine is defined by consumers as night club fancy water and every gro...

Q: 1. Given a historical context of marketing, assess the present role of marketing in the Financial Se...

A: A marketing strategy is a company's targeting the right out to targeted buyers and converting them i...

Q: What are some examples of new forms of self-service retailers?

A: Self-service retailers are retail platforms, where various customers can by themselves do the select...

Q: What are the similarities and differences betweenthe product and retail life cycles?

A: The business has to make research about different aspects of the market to sell demanded and differe...

Q: How are retailers increasing consumer interest and involvement inonline retailing?

A: In today's market, there are two types of retailing business that are commonly found. These are know...

Q: The production concept is a marketing management concept that will most likely lead to marketing myo...

A: The Production Concept. This is the most traditional business idea. It contends that things that are...

Q: As a conclusion, in relation to Cost Leadership Strategy. We can state that a company that achieves...

A: Cost Leadership Strategy - Cost leadership occurs when a company is the low-price leader in its indu...

Q: Are firms in the automobile industry operating efficiently in the past and presently? Explain.

A: Over the years, the international automobile industry has witnessed a great deal of change, not just...

Q: Karim and Nadine, a newly married couple who intend to go to Paris for their honeymoon, bought a Eur...

A: Products of businesses are used to make customers satisfied their needs in unique manner. Products m...

Q: A distributor for Celanese Chemical Companystores large quantities of chemicals, blends thesechemica...

A: Distributors have a very important role to play in the development of business. They have to supply ...

Q: are student at an university and your lecturer ask you to do a Product Offering, critical issues and...

A: Different industries have different challenges and opportunities. The company should use its strengt...

Question

Differentiation is most likely to be successful (in generating economic value) in which of the following scenarios?

Group of answer choices

Buyers have low switching costs

Products are typically standardized

Customers are homogenous

None of the options

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Similar questions

What is the consequence for a product with mass-market appeal? Group of answer choices Bulk of existing customer will buy Few of potential customer will buy Few of existing customer will buy Bulk of potential customer will buy
Match each of the statements with whether it describes a Feature, a Benefit, or a Value (as we defined them in class). Group of answer choices A TV includes a Bluetooth connection. You can wirelessly connect to headphones to listen to the TV Fits your room so that you can play a game on the TV in a comfortable place that is good for bringing friends over to play the game together. More enjoyable to watch a movie because it has a large screen.. Families often enjoy getting together and watching a movie on TV — its a group experience which they enjoy now as well as talking about it later. A TV is one component of this as others include seating and food.
A company's product can be either described as goods or services. Which of these statements is most correct? Group of answer choices Tangible goods are always easier to sell than services services might require more personal contact between providers and potential buyers services might require less personal contact between providers and potential buyers Services are always easier to market than tangible goods
Brand equity is used for Group of answer choices Line extension Brand extension Brand Value All of the options
When considering a high involvement purchase, what are reasons that consumers spend more time researching the product before buying? (Select all answers which apply.) Group of answer choices The purchase isn't expensive, but they know that their spouse believes it's really important to get exactly the right product. They will have to wait months before the product arrives and don't want to have to return it. Every purchase should be high involvement and we need to worry over every penny we spend. They are spending a lot of money on the product and want to spend it wisely.
Which of the following refers to an underlying belief that causes people to choose between plausible courses of action? Group of answer choices A. Protocols B. Norms C. Paradigms D. Values
Products got changed into Customer value because: Group of answer choices Product is not useful Customer value is set by the company Value is what customers get from the product All of the options
Management can do very little to reduce these types of costs over the period of the next six months Group of answer choices committed costs flexible costs product costs discretionary costs
Justin’s nut butter packaging includes a label with the number of grams of protein it offers on the front, as well as complete nutritional facts on the back. The packaging in this case mostly likely offers which type of benefits? Multiple Choice functional benefits perceptual benefits communication benefits technology benefits sustainability benefits
Which of the following is considered an idea? Multiple Choice fitness a pen a marketing class pet food teeth whitening
Which of the following are buying-related activities, in contrast to selling-related activities? (Choose every correct answer.) Multiple select question. Purchasing MP3s from an online retailer Receiving payment from a client for a haircut Using a credit card at a grocery checkout counter Giving a barista cash for a cup of coffee
how can customers benefit from both? Offer more choice, designe and scale producers can specialze? Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.