1. A firm must know where to position its product based on price and

Quality

Explanation: Price and Quality are the product factors used primarily for positioning

against competitors.

2. What type of strategy consists of geographical pricing, price discounts and

allowances, promotional pricing, and differentiated pricing?

price adaptation

Explanation: Price adaptation allocates price flexibility to cater to specific income

levels, geographic areas, and regional consumer demands.

3. The marketing manager needs to know the cost of the research project before

approving it. During which stage of the marketing research process would such a

consideration most likely take place?

Step 2—develop the research plan