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Campbell’s provides a large variety of soup flavors which provide similar benefits; this BEST describes which of the following:

The smartphone manufacturing industry is highly competitive, with significant barriers to entry protecting established players. Starting a smartphone manufacturing business involves substantial investments in R&D, production facilities, and technology. Larger companies benefit from economies of scale, which lower per-unit costs, making it challenging for newcomers to compete on price which discourages many potential entrants. The industry relies on a few large suppliers for components like semiconductors, displays, and batteries and there are high switching costs associated with changing suppliers. With numerous options available, consumers are price-sensitive and can easily switch brands if prices rise. However, some consumers often have strong preferences based on brand reputation. Tablets, wearables, and other smart devices can serve similar functions as smartphones, posing a threat. As technology evolves, new forms of communication (e.g., smart glasses) may emerge as substitutes, impacting demand for traditional smartphones. In mature markets, the saturation of smartphone users drives companies to compete aggressively for market share. With reference to the Porter 5-force model, please answer the following questions: (1) List the 5 forces in the Porter 5-force model, (2) with reference to each force, explain the power (high, moderate, low) for each force, and (3) discuss two or more factors that contribute to the high/moderate/low impact for each of the 5 forces.

An IMC strategy separates the promotional mix into parts and views them as isolated components.

Cumulative quantity discounts are one-time reductions in list prices.

Skimming is an effective strategy to use when products are distinctive or have little competition.

A nonpurchase is an example of a receiver’s feedback.

A retailer’s customer service strategy can support the efforts of the retailer in building demand for a line of merchandise.

Tiffany, Rolex, Gucci, and Prada represent exclusivity, meaning their prices are mostly inelastic.

Vending machines and convenience food stores are not affected by the wheel of retailing because their strategy for customer satisfaction is based on location and convenience, not pricing.

Macy’s is a retail store that focuses on fashion-oriented merchandise, backed by a complete array of customer services. It can be considered as a self-service store.