Module 1.3 - Gaining a Competitive Advantage

Question 1

What are 4 ways to offer the consumer better prices

Answer 1

1. by cutting down on production cost
2. new technology can be used to cut labor (e.g. self scan checkouts)
3. sourcing cheaper materials
4. outsourcing part of the production with cheap labour

Question 2

What are five different ways of marketing?

Answer 2

TV, magazines, social media, product placements, billboards

Question 3

What is blended marketing

Answer 3

the combination of digital and traditional market

Question 4

What are David GArvins 8 dimensions of quality

Answer 4

performance
features
reliability
conformance
durability
serviceability
aesthetics
percievability

Question 5

What is percieved quality?

Answer 5

pericieved quality is if the consumer thinks the product quality

Question 6

What is Corporate social responisbility

Answer 6

it is a respoinsibility that requries businesses to contribute environmentally, enconomically and through charity with their product

Question 7

What are the three benefits of CSR

Answer 7

1. imporves brand reputation
2. . consumers more willing to buy becuase they feel food about themselves
3. save money on product cost whilst being socially responsible