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Imp 9) QUE 3228 Activity: Grocery Shopping Analysis

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Imp 9) QUE 3228 Activity: Grocery Shopping Analysis

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Questions and Answers

What is the significance of branding in the market?

Setting competitive prices

Increasing brand awareness (correct)

Attracting new customers

Providing technical assistance

Why is customer support service important for businesses?

To diversify the product range

To focus on cost reduction

To determine the price of the product

To gain customer loyalty (correct)

What factor can heavily influence the success or failure of a product?

Market demand

Quality of raw materials

Promotional activities

Pricing strategy (correct)

Why is it important for businesses to adjust prices according to market conditions?

To achieve desired profit margins Signup and view all the answers

What can happen if a business sets prices too high or too low?

Loss of customers or financial losses Signup and view all the answers

What is the purpose of packaging in the context of a product?

To provide protection and avoid breakage Signup and view all the answers

How does labeling contribute to a product's success?

By providing all necessary information about the product Signup and view all the answers

What does branding refer to in the context of a product?

Giving a unique brand name to differentiate the product Signup and view all the answers

How do trademarks relate to branding?

Trademarks are unique brand names used for products Signup and view all the answers

Why is having an attractive package important for a product's success?

To avoid breakage and damage during handling and transportation Signup and view all the answers