Which of the following is NOT true when considering competitive advantage? ⒸA competitive advantage is typically offering lowering prices than competitors. A competitive advantage is hard for competitors to copy. A competitive advantage is a valuable long-term approach. A competitive advantage is most profitable when it can be sustained over time.
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- Please read below scenario in which a consumer explains how she made purchasing decision for a car. First of all, I decided on the price and security features of car. Then, I determined my criteria about other features such as the oil amount consumed per 100 km, diesel or gasoline and so on. When I searched for information on the Internet, I felt that Brand X can offer me favorable alternatives. I visited one of the showrooms of Brand X. I loved this red car and purchased it. Please select the name of Hierarchy of Effects that the consumer likely used. a) The Standard Learning Hierarchy b) The Low-Involvement Hierarchy c) The Experiential Hierarchy d) All the aboveCompetitive advantage can be defined as: Group of answer choices A firm’s ability to establish market leadership. A firm’s ability to grow faster than its competitors. A firm’s potential to earn a rate of profit that is persistently higher than its rivals. A firm’s potential for launching innovative new products.Which of the following is NOT a characteristic of a sustainable competitive advantage? - That it never changes over time - That it is meaningful to a target market - That it is a clear advantage over the competition - That it is difficult to copy
- A heavy truck parts maker is able to tender on a pre-production study contract of a new type of truck ventilator unit worth $25,000 net profit if it wins the contract. Tendering costs would be about $2,000. The chances of winning the contract are 50 percent. If the company wins the contract, it must decide on the level of marketing it should make to increase its chances of getting further production contract worth $55,000 net profit. Promotion at a high level costs $18,000 with a resulting probability of winning the contract of 0.8. At medium level promotion, it costs $12,000 with a probability of 75 percent and at a low level, it costs $8,000 with a probability of 60 percent. Should the initial study contract be lost, the company can still bid on the production contract at an additional tender cost of $6,000. The probability of winning the production contract from this stage is 30 percent. a) Draw a decision tree to show the relationship between the various options which arise as the…You are thinking about buying a used refrigerator. You find three are available. One is being sold by a couple that just bought a new refrigerator, one is sold by a student that just flunked out of school and the third is being sold by a handyman. They are priced about the same. From whom should you buy? of Select one: O a. the flunk out Ob. none of them O c. the married couple. Od. the handy man Next page us page our on this page WXOP?KI SKAWhich of the following is an advantage of a company following a focused strategy? Companies following the focused differentiation strategy can charge very high prices. Damaging attacks never comes from larger firms. The companies are protected from the damaging attacks of smaller firms that adopt an even narrower focus. Companies following the focused differentiation strategy never have their growth stymied irrespective of the fact that they serve a niche market. The niche that is an area of operation of one company cannot be made to disappear or be taken over by larger competitors.
- Because the short-term customers can be very profitable, it is clear that loyalty is not the only one path to profitability. A)True B)FalseA company invests considerable time and money to develop sophisticated cost functions that rate high on all evaluative criteria. In the course of using the cost functions, a manager notes that in several instances, the actual costs were different from the predicted costs, resulting in lower profits during one quarter of the year. The question of the value of the cost function is asked. Please provide some suggestions on how to respond to the manager.7 ? Which of the following is true of the price equation? ? ?Extra fees are not part of the price equation ?The amount paid by customers is always the same as the quoted price ?Sellers subtract the add-on charges from the list price ?Customers are more inclined to pay additional fees than a higher list price 8 ?What is the difference between a marketing plan and a business plan? ?A marketing plan addresses the financial projections of an organization, whereas a business plan does not A marketing plan contains a description of an organization, whereas a business plan does not contain any description A marketing plan deals with marketing actions, whereas a business plan addresses the entire organization ?A marketing plan contains details on operations, research, and manufacturing, whereas a business plan does not 9 ?What must an organization use to determine its position respective to the competition during the new-product strategy development stage? ?SWOT analysis and environmental…
- Describe "part-worth utility" and explain how it assists in Conjoint Analysis to create a variety of products. Why is profit maximization not the main goal for marketing professionals like you? What else in the business or product would you want to uphold to ensure its long- term welfare? Explain why.Suppose that a sales force has found 20 qualified buyers and has begun the salesprocess. The sales manager estimates that 10% eventually proceeds to make a purchase.Assume that a professional company offers three services, priced at $2,000, $7,000 and$20,000, respectively. Based on past results or the sales manager’s estimates, you projectthat 60% of first-time buyers will choose the cheapest option, 30% will choose the middleoption and 10% will choose the most expensive option. a. Calculate the size of a likely sale for any prospect that makes a purchase.Which of the following is an internal factor that affects pricing decisions in a company? * ) The forces of demand and supply in the market Consumers' perception of value The degree of inflation in the economy The overall marketing strategy of the company