The basic objective behind the ………………………… is to add value to the product significantly for winning the customers’ loyalty.

Related MCQs

• Brands add value for both customers and the firm by
• In which stage of the product life cycle is advertising and promotion aimed at retaining existing customers and persuading customers to switch from competitor products?
• In the traditional ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ concept , the main strategy of the company is to find customers for the product, manufactured by them and somehow convince the customer into buying this product.
• ‐‐‐‐‐‐‐‐‐‐‐‐ is a strategy designed to cultivate customer loyalty, interaction and long‐term association with the company.
• Brand loyalty indicates customer’s ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ towards the brand.
• Increased competition leads to price decrease, increasing public awareness, sales volume increase significantly are the characteristics of ______________ in PLC.
• The short-term benefit given to the customers to attract more customers is called:
• ……………………pricing means assigning a low price tag for a product and providing the benefits of low-cost mass production to the customers.
• ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ is the process of creating an image for a product in the minds of targeted customers.
• Encourage all stakeholders like customers, dealers, employees etc to send ideas to the idea manager and formally recognize the program to reward best new ideas is characteristic of which stage in the “New Product Development Process”.