BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -It’s important that brand managers focus on defining competition narrowly, as when we compute market shares. Product lines can be trimmed or supplemented depending on market opportunities, however the overall marketing mix should not be altered as this will confuse loyal customers.

Detailed explanation-2: -Niche marketing is a type of segmentation in which the company strategically focuses, targeting what? a smaller market, with particular needs that the company can serve well.

Detailed explanation-3: -The marketing concept is the use of marketing data to focus on the needs and wants of customers in order to develop marketing strategies that not only satisfy the needs of the customers but also the accomplish the goals of the organization.

Detailed explanation-4: -Which of the following is true about competitive pricing? It is at a medium level, somewhere in between extremes, using competitors’ prices as a starting point, and adjusting from there.