one of your classmates asserts that advertising, marketing research, and brand management are redundant expenditures because...

one of your classmates asserts that advertising, marketing research, and brand management are redundant expenditures because a firm can obtain the same information by simy looking at what customers are already buying. Which of the following is not a response you might offer her?

a. advertising and brand management allow a firm to create an entry barrier which will insulate the firm from competition and from undertaking further product motivation

b. marking research could allow a firm to identify new market opportunities and at least, in the short run, a firm can make a profit supplying products to its market segment.

c. if a firm successfully manages its brand, customers become less price sensitive as they perceive fewer substitutes for the firm's brand

Expert Solution

Option A is not a response i might offer.

Marketing research allows firms to evaluate their activities, identify various opportunities and problems for further innovations and hence will allow a firm to make a profit while supplying products to its Market segments in short run.
Brand management allows firms to manage their brands and make their products very effective so that the customers become less price sensitive and purchase their goods rather than searching for substitutes.
Hence, both of these are very essential during product innovations and for earning profits.

Rahul Sunny answered 2 years ago

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