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Question 420 - CSCP discussion

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A company's competitive advantage is product differentiation. The company has multiple new products with unique features targeted to various customer groups. It plans to sell its products via retail channels and online. One of the activities the company should focus on first when determining inventory levels for each product is:

A.
identifying and documenting each market segment's need.
Answers
A.
identifying and documenting each market segment's need.
B.
planning equivalent inventory levels for each product.
Answers
B.
planning equivalent inventory levels for each product.
C.
setting price points for each product.
Answers
C.
setting price points for each product.
D.
determining inventory levels at retail outlets.
Answers
D.
determining inventory levels at retail outlets.
Suggested answer: A

Explanation:

When determining inventory levels for each product, especially for a company focusing on product differentiation with unique features targeted at various customer groups, the first activity should be identifying and documenting each market segment's needs. Understanding specific customer requirements and demand patterns is crucial for setting appropriate inventory levels that align with market expectations. Planning equivalent inventory levels, setting price points, and determining inventory levels at retail outlets are subsequent steps that depend on the initial assessment of market needs.

Reference: Kotler, P., & Keller, K. L. (2016). 'Marketing Management.'

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asked 16/09/2024
saud ahmed
38 questions
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