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What happens to brands that do not adapt to market changes

Assignment Help Operation Management
Reference no: EM133345473

Need clear and correct explanation for all questions along with why other options are incorrect:-

1. Business decisions should be based on which of the following?

a- Data-the only way to truly be accurate
b- Trial and error-it doesn't matter how you feel or how much data you collect, you'll be wrong before you're right
c- Gut feelings-as a consumer, you should understand consumers
d- Judgment-weighing everything out as a marketer and judging what will be most successful.

2. What happens to brands that don't adapt to market changes?

a- The brand will be bought by more adaptable brands.
b- The brand will have a low year, but market changes are temporary, and the brand will be fine.
c- If it's a strong brand, it can weather the change.
d- The brand will die.

3. When doing an in-store learning exercise, what three things should you identify?

a- Gotta-Do's, Smart-to-Do's, Dumb-to-Do's
b- Benefits, product warnings, negatives
c- Product competition, brand loyalty, value elements
d- Price ranges, shelf space division, packaging trends

Reference no: EM133345473

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