Evaluate the importance to CQ's future success of new product development.
Exam No：9609_w23_qp_32 Year：2023 Question No：5
Answer:
Knowledge points:
3.3.1.1 the 4Ps: Product, Price, Promotion, Place (distribution channels)
3.3.2.1 the difference between goods and services
3.3.2.2 tangible and intangible attributes of products
3.3.2.3 the importance of product development
3.3.2.4 product differentiation and unique selling point (USP)
3.3.3.1 product life cycle and decisions about extension strategies
3.3.3.2 Boston Matrix analysis and its uses
3.3.3.3 impact of product portfolio analysis on marketing decisions
3.3.4.1 objectives and usefulness of different pricing methods: competitive, penetration, skimming, price discrimination, dynamic, cost-based and psychological
3.3.5.1 the objectives and usefulness of different promotion methods
3.3.5.2 advertising promotion
3.3.5.3 sales promotion
3.3.5.4 direct promotion
3.3.5.5 developments in digital promotion
3.3.5.6 the role of packaging in promotion
3.3.5.7 the role of branding in promotion
3.3.6.1 the objectives and usefulness of different channels of distribution
3.3.6.2 digital and physical distribution
6.2.1.1 the meaning and purpose of business strategy
6.2.1.2 the meaning and purpose of strategic management: analysis, choice and implementation
6.2.1.3.1 blue ocean strategy
6.2.1.3.2 scenario planning
6.2.1.3.3 SWOT analysis
6.2.1.3.4 PEST analysis
6.2.1.3.5 Porter’s five forces
6.2.1.3.6 core competence framework
6.2.1.3.7 Ansoff matrix
6.2.1.3.8 force field analysis
6.2.1.3.9 decision trees
6.2.2.1 the meaning and importance of corporate planning
6.2.2.2 the meaning of corporate culture and its impact on business decision-making
6.2.2.3 the meaning and importance of transformational leadership
6.2.2.4 the management and control of strategic change
6.2.2.5 the meaning and importance of contingency planning and crisis management
Solution:
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