Answer 2 questions out of 4. Each answer needs to be 1000 words (total of 2000 words). 1. Describe the Consumer Decision Making Process (Blackwell, 2001). What marketingresearch activities do companies use to update their assumptions as to how consumersbehave? What are the strengths and weaknesses of these approaches? 2. What criteria do companies use to segment existing and potential customers? How isthis used to target more valuable segments? Be sure to illustrate your points withexamples. 3. Describe and give examples in practice of the following pricing strategies:- competitor-orientated- marketing-orientated- segmented- negotiated- dynamicCompare these approaches and evaluate how an organisation would choose the ‘best’approach. 4. Describe the strategic options for a company in terms of Porter’s Generic Strategiesand Ansoff’s Product-Market Growth Matrix. Compare these approaches and evaluatehow an organisation would choose the ‘best’ approach. Referencing – You do not need to reference in the text. Only put harvard referencing at the end of each answer. Can you use 3 references for the first question you answer and 3 references for the second question. When you are answering the 2 selected questions of your choice can you label which questions you have answered. I have attached the lecture slides for help.
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