e.com/courses/9755/external_tools/retrieve?display=full_width&url=https%3A%2F%2Ffidm.quiz-Iti-iad-prod.instructure.com%2Flti... ( * TP # 1 8 Upd Return Submit ary demand is the point where a consumer is aware of a category of offerings and has an interest in potentially taking an action. The next step for a firm is to: Generate secondary demand by lowering prices to become the cost leader in the market. Generate secondary demand, where they differentiate their offering from competitors. Generate secondary demand by raising prices to ensure maximum revenue. Generate secondary demand by performing an assessment of supply chains. 10 points Porter's Five Tests of a Good Strategy, "continuity and improvement over time" refers to a firm's best practice of: The responsibility of senior leadership to demand profit maximization. Repeating a task and through iteration becoming better at the task to the benefit of the offering, the value chain and the firm itself. Repeating a task and through aggressive investment becoming better at the task to the benefit of the firm. Relying on the expertise of celebrities and influencers to uncover new opportunities and directions of improvement. 10 points When a firm uncovers clusters of consumers that value an offering in similar ways and subsequently maximize design and placement of the product to reach these clusters, it is an example of: Cost leadership and value chain mapping Segmenting, targeting and positioning Consumer journey mapping All of the above SEP W Ps Id 13 Oructure.com/courses/9755/external_tools/retrieve?display=full_width&url=https%3A%2F%2Ffidm.quiz-Iti-iad-prod.instructure.com%2Flti... Return Su 10 points The type of firm that comes in later in the product lifecycle and strongly targets specific segments with their offerings are referred to as: O Pioneers Me-Too Firms OO Segmenters O Cost Leaders O Public Enemies 10 points From ideation stage through product launch (stages of growth) O Risk, uncertainty and cost go down or are reduced Risk, uncertainty and cost go up or are increased Investors decide how many members are in the investor syndicate O All of the above 10 points Influencer and celebrity partnerships can answer all a company's strategic needs and always guarantee success True False SEP 13 O Ps PI