Cutter's Catering Services advertises that they are the "friendliest caterers in town." Though their prices are no lower than the rates of competitors, they put a great deal of emphasis on getting to know the needs of their customers. They tailor their efforts to meet these needs, providing a unique dining experience that exactly matches the customer's expectations. Cutter's Catering is likely to find that this approach is more effective in achieving its goals than the use of aggressive price cutting.
a. true
b. false
a. true (In many markets, cutting prices is not an effective competitive strategy since it is easy for other firms to respond by cutting prices as well. Many firms rely on nonprice strategies that focus on high quality, outstanding service, fast delivery, or similar factors to differentiate their products and achieve a high level of customer loyalty.)
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Indicate whether this statement is true or false.
Adam is a potential investor in Athletix, a manufacturer of sporting goods
To determine whether or not he wants to invest in the company, Adam is examining a document that lays out the financial goals for the entire company for the next three years, as well as goals in production efficiencies and shipping efficiencies. Adam is most likely reading the ________ for Athletix. A) marketing plan B) marketing program C) business plan D) business program E) financial plan