Business Category Definition Analysis
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Questions and Answers

What is the focus of stimulate demand strategies according to the text?

  • Lowering prices to increase sales
  • Building brand loyalty among competitors
  • Creating competition among existing customers
  • Attracting non-users to the category (correct)

In which types of categories are stimulate demand strategies typically seen?

  • In categories aiming for reduced innovation
  • In emerging categories with no dominant competitors
  • In well-established categories with a leading competitor (correct)
  • In niche markets with limited customer base

What is a key benefit of stimulating demand mentioned in the text?

  • Re-imagining pricing, product, and distribution strategies (correct)
  • Reducing advertising expenditure
  • Increasing employee satisfaction
  • Enhancing market research capabilities

Which strategy focuses on getting existing customers to use more of a brand or pay more?

<p>Retention Stimulate Demand Strategy (B)</p> Signup and view all the answers

What does the Retention Stimulate Demand/Volume strategy aim to achieve?

<p>Get existing customers to use the brand more consistently (C)</p> Signup and view all the answers

What are some cons of stimulating demand mentioned in the text?

<p>More risk-taking and uncertainty (A)</p> Signup and view all the answers

Why are benefit-based category definitions preferred over technology or product-based definitions?

<p>To avoid defining the business narrowly (D)</p> Signup and view all the answers

What did Theodore Levitt emphasize in his article 'Marketing Myopia'?

<p>Broadening business definitions beyond products (A)</p> Signup and view all the answers

Why is it important for a business to shift its definition based on customer benefits?

<p>To impact the competitive landscape positively (B)</p> Signup and view all the answers

What is the main focus when stimulating demand by growing the category?

<p>Focusing on category benefits (D)</p> Signup and view all the answers

How does a narrow definition of a business category impact decision-making?

<p>It leads to being myopic (A)</p> Signup and view all the answers

What did Theodore Levitt suggest people in the railroad business should consider beyond 'railroads'?

<p>'Transportation' (D)</p> Signup and view all the answers

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