Question

Marketers interested in offering customers value can do all of the following EXCEPT?

1) Provide products that perform
2) Give consumers more than they expect
3) Offer organization-wide commitment to service and after sales support
4) Widely advertise their product

Answer 1

Monopolistically competitive firms can increase demand for their products through product differentiation, pricing strategies, and creating brand image. However, widely advertising their product may not be as effective in directly increasing demand.

Step-by-step explanation:

In order to increase demand for their products, monopolistically competitive firms can employ various strategies:

1. Product Differentiation: Firms can differentiate their products from those of competitors by adding unique features or improving quality. This can attract more customers who are willing to pay a premium for the differentiated product.
2. Pricing Strategies: Firms can employ pricing strategies such as offering discounts, sales promotions, or bundle offers to attract customers and increase demand.
3. Creating Brand Image: Building a strong brand image through effective marketing campaigns and advertising can help attract and retain customers, leading to increased demand for the product.

However, one strategy that monopolistically competitive firms generally do not use to increase demand is widely advertising their product. While advertising can play a role in shaping intangible preferences, it may not be as effective in directly increasing demand for the product compared to the other strategies mentioned.