BACHELOR OF BUSINESS ADMINISTRATION

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BUSINESS ADMINISTRATION

RETAIL MARKETING

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
A technology company needs to monitor its customers’ responses after launching its new brand positioning of its portable external hard drive product. How can marketers collect direct feedback from their customers?
A
Monitor the number of new and returning customers purchasing the product.
B
Calculate the average spending per customer for the product.
C
Collect customer feedback information from customer service and monitor social media comments about the product.
Explanation: 

Detailed explanation-1: -Develop a positioning strategy Through the preceding steps, you should achieve an understanding of what your company is, how your company is different from competitors, the conditions of the marketplace, opportunities in the marketplace, and how your company can position itself.

Detailed explanation-2: -Specific factors that can trigger the decision to reposition a product, service, or brand include the following: Competition: New competitors entering or leaving the market; competitors joining forces; a competitor’s innovation that threatens to make your offering obsolete; competitive pricing strategies.

Detailed explanation-3: -It is essential for the marketers to first identify the target audience and then understand their needs and preferences. Every individual has varied interests, needs and preferences. No two individuals can think on the same lines. Know what your customers expect out of you.

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