Multiple Choice
Olav is the CEO for Blue Stone, Ltd., which makes costume jewelry designed by a Spanish artist named Valeria. As a result, this jewelry has strong appeal in areas of the United States with a large Latino population. However, the U.S. market already has two companies that make high-quality costume jewelry, which are popular with people who have a mid-to-high range income. Considering all of these elements, what should Olav do to ensure Blue Stone gains market share and is profitable?
A) He should make sure every department, including production and marketing, is focused on highlighting how Valeria's designs are different from those of the competition.
B) He should focus the efforts of all departments on showing U.S. customers why Blue Stone's costume jewelry is better quality than fine jewelry.
C) He should ensure that every department, from production to marketing to shipping, focuses on reducing their costs below those of their competitors.
D) He should narrow the company's target market to just the Latino market in a few areas of the United States and ensure that Blue Stone's prices are the lowest.
Correct Answer:
Verified
Correct Answer:
Verified
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