Question

Q.1. Ms. Moonmoon is going to start a new coffee shop near Sylhet Osmani International Airport. Suggest a Brand name for her coffee shop. Why do you think that your proposed brand
name is perfect for her business? 4

Q.2. Do you consider BRAND when you are going to purchase something? Why or why not? 3

Q.3. Suppose, you have started an online business recently. Your business is Sylhet metropolitan area based and you sell imported Laptops, Tabs, Mobile phones, smartwatches, and headphones. Which pricing strategy will you follow; Market penetration pricing or market skimming pricing? Why?

Answer 1

Q1:

The brand name, which will be perfect for her business, is "Moonmoon Coffee Shop." It will be the best brand name for her business as it defines the product she is having in her shop, and it will be easy for the customers to understand the product, and it will increase the sale of the shop. Moreover, she has a favorable location, which will boost the business's sales because every day, many people travel from that airport.

Q2: Yes, as a customer, we all consider brands in our minds because we have a good picture in our minds about that brand's product, which makes us purchase that brand's product by ignoring the other brand products. For a customer, the first impression is the last, and if the first impression of the product is good, then customers start using that product only.

Q3: The pricing strategy which the business should apply will be market skimming pricing because these products are electronic products, which comes a little high cost. Customers prefer to buy these things only when there is any skim related to that product. It will increase the business's sales, and the customers will get satisfaction after purchasing the product. Customers place to buy the right quality products at low prices, and if if the business is referring any scheme to the customers, then they automatically by Rose products from the company. It will help the business to grow and try to take the competitive advantage over their competitors in the marketplace.