STR 581 Final Exam Answers - Part 3
What is included in the Study Guide?
- Final Exam Set 3 (30 Answers and Explanations)
- Comprehensive explanations for every answer
- Unlimited support from ACCNerd Tutors
- Updated April 22, 2017
- 100% Money Back Guarantee
Preview of Final Exam Answers
1. A firm must know where to position its product based on price and
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?
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.