Question

1. Launching a points program to reward repeat purchasing of Iams products__________.

A) Enhances customer loyalty and encourages repeat business.
B) Attracts new customers to the Iams brand.
C) Reduces the quality of Iams products.
D) Increases advertising costs.

2. Issuing cents-off coupons to get buyers of other brands to switch to Iams.__________.

A) Encourages brand switching to Iams.
B) Reduces the sales of Iams products.
C) Discourages customers from using coupons.
D) Promotes competitors' brands.

3. Giving away free Iams pet food to first-time pet owners_________.

A) Attracts new customers to Iams and creates brand awareness.
B) Reduces profit margins for Iams.
C) Increases the cost of advertising.
D) Encourages customers to switch to other pet food brands.

4. Customizing pet food formulations to individual owners' preferences, at a premium price__________.

A) Enhances the value proposition and can generate higher revenue.
B) Lowers the cost of production.
C) Reduces the quality of Iams products.
D) Increases customer dissatisfaction.

5. Introducing new products based on customer responses to marketing research.__________.

A) Demonstrates responsiveness to customer needs and preferences.
B) Increases marketing costs.
C) Doesn't impact customer satisfaction.
D) Reduces product variety.

Answer 1

Marketing strategies such as loyalty programs, coupons, and product customization can positively impact customer loyalty, attract new buyers, and generate higher revenue for a business like Iams, while reinforcing product differentiation and brand preferences.

Step-by-step explanation:

Understanding Marketing Strategies in Business

Marketing strategies are crucial for businesses to attract and retain customers. Here's how different tactics can impact a company like Iams:

Launching a points program to reward repeat purchasing of Iams products enhances customer loyalty and encourages repeat business.

Issuing cents-off coupons to get buyers of other brands to switch to Iams encourages brand switching to Iams.

Giving away free Iams pet food to first-time pet owners attracts new customers to Iams and creates brand awareness.

Customizing pet food formulations to individual owners' preferences, at a premium price, enhances the value proposition and can generate higher revenue.

Introducing new products based on customer responses to marketing research demonstrates responsiveness to customer needs and preferences.

Through product differentiation and targeted marketing efforts, a company can bolster its competitive edge and grow its market share.

Intangible aspects such as brand reputation and customer loyalty play significant roles in influencing consumer choices and behaviors.