IGCSE Enterprise: Specimen Questions with Answers 47 - 48 of 49

Passage

Case Study -2

Pottery Barn & Sherwin-Williams

Co-Branding Campaign: Color Your Room

  • One of the biggest benefits of co-branding campaigns is the opportunity to expose your product or service to a brand-new audience. that՚s exactly what home furnishing store Pottery Barn and paint company Sherwin-Williams did when they partnered together back in 2013.
  • Together, the two brands created an exclusive product line of paints, and then added a new section of Pottery Barn՚s website that helped customers easily select paint colors to complement their furniture choices.
  • Customers could coordinate paint colors with picture-perfect Pottery Barn furniture for a mutually beneficial partnership – and style assistance for both brands customers to boot. “Paint Landing,” Pottery Barn՚s landing page for the partnership, contains helpful blog posts and how-to ideas for do-it-yourself painting and decorating.

Question 47 (10 of 12 Based on Passage)

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Short Answer▾

State the different types of communication techniques used to communicate with the stakeholders.

Explanation

Effective Ways to Communicate with the Stake Holders Are

  • Schedule a meeting: Meetings with the stakeholders are the most common way of communicating with the stakeholders. Meetings can save time in communicating the message to many people.
  • Newsletter: Newsletter is great method of communicating where the feedback of the people is not required. It can be used proactively by a company at given time periods.
  • Conference call: Where the issue is too urgent conference calls are the most used method to communicate with stakeholders by scheduling a conference call which can be of minutes or hours.

Question 48 (11 of 12 Based on Passage)

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Short Answer▾

What is the marketing strategy for an enterprise to achieve it aims?

Explanation

Firms aims to create and retain satisfied customers. It is obvious that to remain competitive, the corporate marketing strategy must aim to create and retain satisfied customer. This is possible when firm adds value for the customer. Not only this, the customer should perceive the value to be distinctively more than the firm՚s rivals.

  • Segmentation: Market segmentation can help focus corporate resourced more sharply. Segmentation helps provide leverage for marketing resources on the more productive customer groups.
  • Value addition: successful companies do not just add value, but they reinvent it through the linkage of two key resources- knowledge and relationships, or their competencies and customers.
Marketing Strategy

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