Rues and West Inc. specializes in lighting technologies. Its management noticed that the preference for incandescent light bulbs has declined drastically with the introduction of more efficient fluorescent bulbs in the market. In this case, which of the following is most likely to happen?
a. Prices of incandescent light bulbs will decrease if the incandescent light bulbs move into the specialty goods category.
b. Demand for incandescent light bulbs will decrease as manufacturers will increase its price to match that of fluorescent bulbs.
c. Prices of incandescent light bulbs will decrease further as marketers will try to salvage the last vestiges of demand.
d. The available supply for incandescent light bulbs will increase.
Answer: c.
Learn More :
Marketing
- Charles Revson started Revlon. He once said "We sell hope." Revson was defining the ______ of Revlon cosmetics.
- Blood donations to the Red Cross are considered __________ products.
- The distribution strategy during the decline stage of PLC involves building more intensive distribution networks
- Amazon and GEICO set themselves apart with their smooth-functioning direct delivery strategy referred to as __________ differentiation.
- Which value proposition is difficult to sustain in the long run?
- What are perceptual positioning maps used for?
- The Westin Stamford Hotel in Singapore failed when it once advertised itself as the world's tallest hotel. This difference was not worth establishing because it did not satisfy which of the following criteria?
- A company can differentiate itself from competitors using symbols such as McDonald's golden arches, Twitter's bird, and the Nike swoosh. Which type of differentiation is this?
- The winning value proposition by discount stores such as Walmart and Best Buy can be categorized as __________.
- Amazon and GEICO set themselves apart with their smooth-functioning direct delivery strategy referred to as __________ differentiation.
- One important consideration in using a differentiated targeting strategy is that ________.
- On the My M&Ms Web site, users can place custom orders for M&Ms. They can choose their own colors, put a personalized text message on the candies, and even upload a photo to be placed on each M&M. Which targeting strategy is M&M using here?
- Anythinglefthanded.com.uk only sells products designed for left-handed people. Which targeting strategy is it using?
- Instead of going after a small share of a large market, a firm goes after a large share of a smaller niche segment. This type of marketing strategy is known as __________.
- If men and women respond similarly to the same marketing mix, they do not constitute different segments. Gender would not be effective in this example because the segment is not ________.
- Toothpastes claim they "whiten teeth," "fight bad breath," and "reduce plaque." Which base of segmentation is being used in this example?
- ___ segmentation divides buyers into segments based on their knowledge, attitudes, uses, or responses to a product.
- ______ segmentation divides buyers into different segments based on lifestyle or personality characteristics
- What is positioning?
- Which of the following statements about segmentation is true?
- What is the purpose of differentiation?
- The process of evaluating each market segment's attractiveness and selecting one or more market segments to enter is called ______
- The step in designing a customer value-driven marketing strategy in which a company divides a market into distinct groups of buyers is known as market _____
- Market ______ evaluates each market segment's attractiveness and selects one or more segments to serve
- Which of the following is an advantage to businesses that use computer databases to manage their inventory?