Question

If you want to sell unique wristbands to the 250 participants in a special boating event to raise funds for research for a rare disease, which of the following strategies would you select? a. high quality product, low price, heavy promo, exclusive channels b. high quality product, high price, light promo, wide distribution c. high quality product, high price, heavy promo, exclusive channels d. ​high quality product, high price, light promo, exclusive channels

Answer 1

Answer: D. ​high quality product, high price, light promo, exclusive channels.

Explanation: Judging by the number of wristbands to be sold and the nature of the event, the quality expected of such a limited edition wristband and the occasion should be well above average and surpass what is offered by general wristbands.

Quality comes at a cost, therefore the wristband should command a huge fee as it will most likely be affordable for the participants.

Given that the sale isn't in thousands or meant to reach people aside from participants in the event, a light promo will suffice and and adopting exclusive channels for its sale should be considered.

Answer 2

Answer:

d. ​high quality product, high price, light promo, exclusive channels

Explanation:

Given the target group of people to be reached with the unique wristbands, we can conclude that the target market consists of a special group of people who most likely can pay a high price for the unique wristband. The special boating event would most likely attract wealthy individuals.

Considering the category of people targeted, a high quality product with high price is the best bet to achieving the goal of raising enough funds the research.

Also, given the limited number of people to be targeted, light promo is all that is needed. The limited number of people targeted and also considering their caliber, and the high quality product being offered, an exclusive channel of sales would seem fit for restricting the distribution of the product.