Successful marketing strategy only builds quality into the product in order to validate a price premium.

Question

Quizplus · Accepted Answer

Successful marketing strategy involves not only building quality into the product but also creating value for the customers through various marketing activities such as research, positioning, promotion, pricing, etc. A price premium can be justified only when customers perceive additional value in the product beyond the quality. Therefore, simply building quality into the product may not necessarily lead to a successful marketing strategy.

Successful Marketing Strategy Only Builds Quality into the Product in Order