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ACCNERD – STR/581 Capstone Exam – Part 3 2016

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ACCNERD – STR/581 Capstone Exam – Part 3

 

Thank you for using ACCNerd.com
 

1. A firm must know where to position its product based on price and

 

Quality

 

Explanation: Price and Quality are the product factors used primarily for positioning against competitors.

 

2. What type of strategy consists of geographical pricing, price discounts and allowances, promotional pricing, and differentiated pricing?

 

price adaptation

 

Explanation: Price adaptation allocates price flexibility to cater to specific income levels, geographic areas, and regional consumer demands.

 

3. The marketing manager needs to know the cost of the research project before approving it. During which stage of the marketing research process would such a consideration most likely take place?

 

Step 2—develop the research plan

 

Explanation: The development of a research plan will include specific considerations in regards to budgets.

 

4. A valuable result of task environment analysis with respect to geographic, demographic, psychographic and buyer-behavior factors is called

 

Customer Profile

 

Explanation: A customer profile contains all relevant data a marketer can find based on the task environment analysis.

 

5. New-to-the-world products are ________.

 

new products that create an entirely new market

 

Explanation: These are highly innovative products the solve problems that were not previously envisioned in the market.

 

6. These social responsibilities are those that are voluntarily assumed by a business or organization. They include public relations activities, good citizenship, and full corporate social responsibility.

 

Discretionary responsibility

 

Explanation: These activities are not directly necessary for profit maximization, but they often provide indirect benefits.

 

7. When diversification involves additions of a business related to the firm in terms of technology, markets or products, it involves

 

Concentric diversification

 

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[Solved] ACCNERD – STR/581 Capstone Exam – Part 3 2016

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  • Submitted On 22 Jun, 2016 10:11:38
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ACCNERD – STR/581 Capstone Exam – Part 3 Thank you for using ACCNerd.com 1. A firm must know where to position its product based on price and Quality Explanation: Price and Quality are the product factors used primarily for positioning against competitors. 2. What type of strategy consists of geographical pricing, price discounts and allowances, promotional pricing, and differentiated pricing? price adaptation Explanation: Price adaptation allocates price flexibil...
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