The Following Questions are linked to this scenario: A firm markets innovative products at above-average prices, distributes these products through upscale stores, and emphasizes personal selling rather than advertising.
-After learning that a new competitor is entering the market, the firm decides to slash prices by 50 percent and leave the rest of its strategy alone. The firm now has
A) a clear organizational mission.
B) a poorly coordinated marketing mix.
C) focused long-run objectives.
D) focused short-run objectives.

Question

Quizplus · Accepted Answer

The firm's decision to drastically reduce prices while maintaining its upscale distribution and personal selling approach results in a poorly coordinated marketing mix. This is because the elements of the marketing mix (product, price, place, promotion) are no longer aligned with the firm's original strategy of targeting the upscale market with innovative products at above-average prices.

The Following Questions Are Linked to This Scenario: a Firm