BUISENESS MANAGEMENT
MARKETING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Altering the marketing mix of products in order to increase sales to existing customers
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Extending the range of products available for customers to purchase
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Keeping sales volume buoyant and customers loyal customers by price competition
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Expanding the number of customers and markets for existing products
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Expanding by selling new products to new customers
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Detailed explanation-1: -According to Jenkins, customer acquisition is which of the following? Altering the marketing mix of products in order to increase sales to existing customers.
Detailed explanation-2: -Extension strategies: Change price– Price can be lowered to allow new customers to buy it. Change place– Products can be sold in different countries or territories to gain more sales. Change promotion– Different advertising or sales promotion techniques can prolong the life of the product, giving it a new image.
Detailed explanation-3: -List price is not a part of product in marketing mix; it is the part of price mix.
Detailed explanation-4: -Introduction The introduction stage happens when a product is launched in the marketplace. This is when marketing teams begin building product awareness and targeting potential customers. Typically, when a product is introduced, sales are low and demand builds slowly.
Detailed explanation-5: -The maturity stage of the product life cycle is the most profitable stage, the time when the costs of producing and marketing decline.