Podcast
Questions and Answers
What is the primary goal of a company using a Single-Niche strategy in an emerging market?
What is the primary goal of a company using a Single-Niche strategy in an emerging market?
- To target multiple niche markets with distinct products
- To serve a specific niche market with specialized products or services (correct)
- To cater to a broad audience with standardized products
- To focus on the mass market with products designed to appeal to a wide range of customers
Which of the following product levels is characterized by the fundamental needs or problems that the product addresses for the customer?
Which of the following product levels is characterized by the fundamental needs or problems that the product addresses for the customer?
- Core Benefits (correct)
- Expected Product
- Basic Product
- Augmented Product
What is the primary characteristic of a market in the Maturity stage of evolution?
What is the primary characteristic of a market in the Maturity stage of evolution?
- Minimal competition and high profit margins
- High growth rate and increasing competition
- Decreasing sales and high market share
- Stable market dynamics and intense competition (correct)
Which of the following strategies would be most suitable for a company targeting multiple niche markets with distinct products?
Which of the following strategies would be most suitable for a company targeting multiple niche markets with distinct products?
What is the primary goal of a company using a Mass-Market strategy in an emerging market?
What is the primary goal of a company using a Mass-Market strategy in an emerging market?
Which of the following product levels is characterized by extra features or services that exceed customer expectations and differentiate the product from competitors?
Which of the following product levels is characterized by extra features or services that exceed customer expectations and differentiate the product from competitors?
What is the primary purpose of warranties in the context of products?
What is the primary purpose of warranties in the context of products?
Which level of the Product/Market Offering Hierarchy represents fundamental consumer needs or desires?
Which level of the Product/Market Offering Hierarchy represents fundamental consumer needs or desires?
What is the primary differentiator between a Basic Product and an Expected Product?
What is the primary differentiator between a Basic Product and an Expected Product?
What is the primary goal of Service Differentiation in competitive markets?
What is the primary goal of Service Differentiation in competitive markets?
What is the primary characteristic of a Potential Product?
What is the primary characteristic of a Potential Product?
What is the primary purpose of the Product/Market Offering Hierarchy?
What is the primary purpose of the Product/Market Offering Hierarchy?
