Why is it important for marketers to consider their target market before changing parts of the marketing mix like price and product?

A$.$ To increase advertising revenue

B$.$ To ensure customer satisfaction and minimize backlash

C$.$ To reduce operational costs

D$.$ To expand market share

What sparked major backlash against Turing Pharmaceuticals in the business case?

A$.$ Introduction of a new drug

B$.$ Reduction of drug prices

C$.$ Dramatic increase in drug price

D$.$ Improvement in drug formulation

How did consumers initially react to the reformulated Diet Pepsi?

A$.$ Positively

B$.$ Negatively

C$.$ Indifferently

D$.$ Ambiguously

What strategy can pharmaceutical firms adopt to mitigate the impact of price increases on consumers?

A$.$ Inctiase prices abruptly

B$.$ Offer discounts to hospitals

C$.$ Avoid transparency with consumers

D$.$ Ignore regulatory concerns

What is essential for maintaining trust and credibility when implementing changes to the marketing mix?

A$.$ Lack of transparency

B$.$ Open dialogue and clear explanations

C$.$ Sudden price hikes

D$.$ Disregard for customer preferences