Which of the following statements best describe a focus strategy:Select one or more:a. A focus strategy is an integrated set of actions taken to produce goods and services that servethe needs of a particular market segment, such as a specific buyer group (e.g. young or oldpeople).b. A focus strategy is an integrated set of actions taken to produce goods and services that servethe needs of several particular market segments (e.g. young and old people).C.A focus strategy is necessarily an integrated set of actions taken to produce goods andservices with lower production costs than competitors.d.A focus strategy can be considered a differentiation or cost leadership strategy applied to alimited geographic market.

Focus strategy is essentially a core marketing tactic that enables businesses to pinpoint the…

Answered: Which of the following statements best…

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

Similar questions

Elaborate and explain each of this context. 1. A good marketing team can help develop a positioning statement to helpreach as much or the target market as possible. The best start for any positioning analysis is gaining a thorough knowledge of a product or service's target market. This is the group of people or businesses that will best benefit from the use of the product/service.
An example of this process at work is the effort to introduce VOIP telephone service. Select one: a. Horizontal Marketing Strategy b. Vertical Marketing Strategy c. Beachhead Strategy d. Competitor Analysis Strategy
11.The ___________ is the set of controllable variables that the firm use to influence the buyer’s a. All of the answers are correct b. Management Process c. Marketing Mix d. Marketing Strategy 12.Barriers to entry is part of ___________. a. Threats of new entrants b. Market Rivalry c. Competitive Advantage d. All of the answers are correct 13.The ___________ is how much the consumer will pay. a. Product b. Promotion c. Price d. Place 14.___________ describes the unique features of products and services provided to customers that is different from any competitors in the market. a. Selling Features b. Value Proposition c. Unique Product d. None of the answers are correct 15.The ___________ is a customer segment which focuses on a wide range of potential customers. a. Management Strategy b. Mass Market c. Niche Market d. All of the answers are correct 16.___________ is the way you let your customers know about, sell, deliver, and maintain your products and services. a. Marketing Strategy…
One of the following statements is NOT always true about Marketing Plans. Select one: a. Good Marketing Plans identify risks and include potential contingency plans b. Good Marketing Plans include information that documents and justifies the strategic and tactical decisions c. The Strategic Marketing Process provides the framework for the Marketing Plan d. Good Marketing Plans that are properly implemented lead to winning outcomes and results (relative to the competition). e. Good Marketing Plans will include sales forecasts and budgets
For each of the following report situations, write a clear problem statement and list what fac-tors could or should be explored. a. A manufacturer of breakfast cereals wants to attract a new demographic of consumers. b. The manufacturer of a toothpaste wants a bigger share of the toothpaste market. c. A company wants to give its stockholders a summary of its operations for the past calendar year. d. A building contractor engaged to remodel an office for Company X submits a report sum-marizing its weekly progress. e. The supervisor of Department X must prepare a report about the need for a new staff member. f. Baker, Inc. is experiencing higher than normal employee turnover. g. An executive must rank three subordinates on the basis of their suitability for promotion to a particular job. h. A restaurant manager must compare two possible suppliers of fresh seafood. i. An investment consultant must advise a client on whether to invest in the development of a lake resort. j. A consultant…
9- The main function of business research is to: a. Attempt to forecast the future behaviour of market only b. Provide the solution to a business problem. c. Identify organizational needs only d. Provide information to assist managers in making business decisions Clear my choice
This is for a marketing class This is a three-part question: 1) discuss external environment and threat analysis, b) describe goal formulation, and 3) review Porter’s generic strategies
21) For some ________, a simple description consisting of a word or picture might be sufficient. A) concept tests B) product concepts C) marketing strategies D) product developments E) business analyses 22) After concept testing, a firm would engage in which stage in developing and marketing a new product? A) idea screening B) marketing strategy development C) business analysis D) product development E) test marketing 23) The first part of the marketing strategy statement describes the target market; the planned product positioning; and goals for sales, profits, and ________. A) market share B) competition C) secondary market D) competition’s anticipated reaction E) life-cycle duration 24) The second part of the marketing strategy statement outlines the product’s planned price, distribution, and ________ for the first year. A) advertising B) promotion C) marketing budget D) positioning E) target market 25) The third part of the marketing strategy statement includes all of…
Q. Briefly differentiate between the following: a. Qualitative and Quantitative designs in terms of its relevance to various research questions? b. Intervening and antecedent variables in terms of their usage? c. Theory and hypothesis?
Choose the best ANSWER 1- A marketing team is working on specific marketing activity planning, who will do those activities and how, and what resources will be needed. Which part of the marketing plan does this best describe? Developing the mission statement Situation analysis Marketing strategy Marketing implementation 2- Which of the following is the best example of a good strategic goal (according to professor and marketing plan directions)? Increase sales per square foot by 5% in the next 6 months. Get a 25% market share. Increase profitability. Get more people to try our new product. 3- Which is most true about marketing? Marketing should be an organization-wide focus on customers. Marketing is most effectively thought of as an organizational department that just handles advertising and sales. Marketing is only used to take advantage of people. Marketing can only be used for tangible products. 4- Which is the best example of using the…
Here i should calculate the CLV using excel to show the numbers and word to write the meaning of these calculations i dont know which equations should i use! 1:B2B company for renting modern office space for small businesses is trying to decide which segment of customers it should enter. The options for it are divided into three segments: (a) technological startups, (b) lawyers and accountants, and (c) private therapists. After thorough market research, the following assessments of the characteristics of each segment were obtained: Estimated segment size Willingness to pay a monthly fee per office Maintenance cost per month Departure rate Startups Estimated segment size10,000 Willingness to pay a monthly fee per office 3000 $ cost per month 400$. in the first month - a departure rate of 10% and then the departure rate increases by 1.05 every month. Lawyers Estimated segment size 5,000 Willingness to pay a monthly fee per office CPA 6,000 $ Maintenance cost per month 1,000$. in the…
All of them solve. 1.Customer insights are an important outcome of marketing research. True or False 2.A product that offers fewer benefits at a higher price than the competition can be said to have a losing value proposition. True or False 3.Comparative advertising is focused on comparing a product’s benefits to its costs. True or False 4. In a SWOT analysis, both strengths and opportunities are internal to the organization. True or False

SEE MORE QUESTIONS

Recommended textbooks for you

Principles Of Marketing

Marketing

ISBN:

9780134492513

Author:

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

Publisher:

Pearson Higher Education,

Marketing

ISBN:

9781259924040

Author:

Roger A. Kerin, Steven W. Hartley

Publisher:

McGraw-Hill Education

Foundations of Business (MindTap Course List)

Marketing

ISBN:

9781337386920

Author:

William M. Pride, Robert J. Hughes, Jack R. Kapoor

Publisher:

Cengage Learning

Principles Of Marketing

Marketing

ISBN:

9780134492513

Author:

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

Publisher:

Pearson Higher Education,

Marketing

ISBN:

9781259924040

Author:

Roger A. Kerin, Steven W. Hartley

Publisher:

McGraw-Hill Education

Foundations of Business (MindTap Course List)

Marketing

ISBN:

9781337386920

Author:

William M. Pride, Robert J. Hughes, Jack R. Kapoor

Publisher:

Cengage Learning

Marketing: An Introduction (13th Edition)

Marketing

ISBN:

9780134149530

Author:

Gary Armstrong, Philip Kotler

Publisher:

PEARSON

MKTG 12:STUDENT ED.-TEXT

Marketing

ISBN:

9781337407595

Author:

Lamb

Publisher:

Cengage

Contemporary Marketing

Marketing

ISBN:

9780357033777

Author:

Louis E. Boone, David L. Kurtz

Publisher:

Cengage Learning

SEE MORE TEXTBOOKS