Question: 1. When products or services are first introduced into a market, they are often marketed as innovative and sold at a premium price. Once

1. When products or services are first introduced into a market, they are often marketed as innovative and sold at a premium price. Once the product or service becomes established in a market, how is it typically positioned to differentiate it from the competition? (5 marks) 2. Elaborate your above answer with an example. Please explain the example. (5 marks) 3. An organization has positioned its product as the lowest priced in the market. What is the rationale for positioning as lowest priced product? (2 marks) Now, it is struggling to maintain this position because of the rising cost of materials. What solutions to this challenge could the organization explore? Please list 2 strategies. (4 marks) Why do you think your strategies will work? (4 marks)

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

1 Once a product or service becomes established in a market it is typically positioned to differentiate it from the competition by focusing on various factors such as Quality Emphasizing superior qual... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!

The following data were gathered to use in reconciling the bank account of Conway Company: Balance per bank $23,900 Balance per company records 8,700 Bank service charges 50 Deposit in transit 5,500...

Planning is one of the most important management functions in any business. A front office managers first step in planning should involve determine the departments goals. Planning also includes...

Read the case study "Southwest Airlines," found in Part 2 of your textbook. Review the "Guide to Case Analysis" found on pp. CA1 - CA11 of your textbook. (This guide follows the last case in the...

Plant A B C D E F G H x 1.0 1.5 2.0 2.5 3.0 3.5 4.0 4.5 y 3.9 4.4 5.8 6.6 7.0 7.1 7.3 7.7

When products or services are first introduced into a market, they are often marketed as innovative and sold at a premium price. Once the product or service becomes established in a market, how is it...

Final Paper Instructions/Guidelines: The final paper must be a minimum of 5 pages and a maximum of 7 pages in APA format. You can find APA guidelines in the Week Six folder under final paper tips....

On January 21, 2003, Robbins filed an application for site plan approval to construct an asphalt plant within the town limits of Hillsborough. Robbins had entered into a contract to purchase the...

Carissa Communications reported the following figures from its adjusted trial balance for its first year of business, which ended on July 31, 2016: Cash............... $4,100 Selling...

Upton, a Greenville CPA, decided to open a booth during Trade Days in nearby Canton to augment the small accounting business. Upton ran this advertisement in the local newspaper: "Accounting Done...

2) Starting from rest, a block of mass m slides down a = 23 ramp. The coefficient of kinetic friction between the block and the ramp is u= 0.1. How fast is the block moving when it reaches the...

Interpret the budget and provide summary in 500 words by reflecting the understanding of budgeting principles. the summary needs to include comparison of 2019/20 to 2018/19 budget of blue mountains...

Give the number of protons ,neutrons and electrons in the following species 31P^3- ion?

I will type out the content of the picture for you to answerThe following is the same as the picture The Aker Company uses a job-costing system at its Dover, Delaware, plant. The plant has a...

You are documenting part of the sales process for Neverland Company. It is a company with many locations around the country. The process to document is as follows: Sales have been set up to handle...

Can we put that she will be making weekly payroll deductions inthe amount of $52.75 to the housing equalling $211.00 monthly

Explain the meaning of cultural universals. Do these provide universal guides to behaviour in all societies? How can the international marketer use these universals? Explain.

In the decade of the 2010s, the plans and operations of Avon Inc. in marketing, research, and manufacturing throughout Asia are still being affected by actions taken after a 1998 meeting. The US...

Toyotas vehicle recalls: responses, problems and concerns Introduction Between October 2009 and July 2010, Toyota Motor Corporation recalled 8.5 million cars and trucks. The design and quality...

Consider a $5000 face value Province of Quebec strip bond from the issue in Table 8.3 that matures on December 1, 2018. If the yield does not change as years go by, what will be the bonds value on:...

Boris recently turned 30, an event causing him to give thought to some long-range financial planning. He believes that, if he owns a home and is debt-free by age 60, he and his partner can retire and...

Wojtek purchased a $10,000 face value strip bond on a date when it had 14 years left until maturity. The purchase price was based on a market yield of 6.2% compounded semiannually. He sold the bond 4...