Competitive Marketing Strategy Question:
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For some products, competitive pressure may keep margins tight. To increase profit the organization may do which of the following-

Answer:

1. Reduce marketing expenditure; reduce costs.
2. Reduce marketing expenditure; increase the price.
3. Reduce marketing expenditure; increase the price.
4. Reduce costs; increase output.
5. Increase the price; reduce costs.

Answer: Reduce costs; increase output

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Competition can be viewed from different aspects. When an industry is defined as the set of all sellers of a product or service, this is referred to as what-Price sensitivity can be a meaningful way of doing which of the following between groups of customers.