Mars Corp., a New York-based soft drink manufacturer, decides to expand its operations to London and Delhi. However, the company decides to sell its existing soft drinks with the same packaging and flavors in these markets. In this scenario, the company is using a _____ strategy.
A. market penetration
B. product development
C. market development
D. service development
E. diversification
Talyn Cosmetics sells high-end cosmetics that are coveted by women, but are priced out of the budgets of most average buyers. Talyn wants to enter the Arian market and is conducting market research to identify the market segment on which it should focus its strategy. Researchers send out a questionnaire to a vast pool of potential customers in Aria and analyze the results. Which of the following questions should research analysts focus on to identify the target segment?
A. Would you choose Talyn Cosmetics over other cosmetics brands in the market? Why?
B. Would you be interested in buying Talyn Cosmetics? What is the most you would be willing to spend on a brand of cosmetics?
C. What is your preferred mode of purchase of cosmetics--retail stores or online?
D. List your favorite brands of cosmetics.
E. How old were you when you began using cosmetics?
Goldwyn, a market researcher at Horpine Analytics, is creating a survey to measure the value of his company's brand as perceived by customers. Which of the following questions will help Goldwyn measure the top-of-mind awareness of Horpine Analytics?
A. Have you used the services of Horpine Analytics?
B. What are companies that you depend on for your business needs?
C. What companies do you think of first when you hear the phrase market analysis?
D. When was the last time you used an analytics tool?
E. What is the likelihood of recommending Horpine Analytics to others?
_____ strategies are designed to increase demand by focusing on wholesalers, retailers, or salespeople.
A. Push
B. Pull
C. Macro
D. Informative
E. Relationship
The retention rate of a particular brand of engine oil in 2013 is 87%. If 6,000,000 customers purchased the brand in 2012, how many of these customers purchased the same brand in 2013?
A. 5,100,000
B. 5,177,000
C. 5,220,000
D. 5,250,679
E. 5,291,100
Sandra has been using her Xapa-6, a six-year old phone model from Keto, for the past four years. Despite several other releases from Keto and advancements in mobile phone technology, Sandra hasn't switched to a newer model. In this scenario, Sandra is one among the _____.
A. early adopters
B. innovators
C. early majority
D. late majority
E. laggards
EZ, a manufacturer of electronic appliances, manufactures sandwich toasters, waffle makers, and sandwich-waffle makers. Recently, EZ reduced the price of sandwich-waffle makers by 20%. This increased the sales of sandwich-waffle makers by 20% and reduced the sale of sandwich toasters by 30% and waffle makers by 25%. Which of the following is true of this scenario?
A. The price elasticity of sandwich-waffle makers is -2.
B. The cross-price elasticity of sandwich-waffle makers and sandwich toasters is -1.
C. The cross-price elasticity of sandwich-waffle makers and waffle makers is -2.
D. Sandwich-waffle makers and sandwich toasters are likely to be substitute products.
E. Sandwich-waffle makers and waffle makers are complementary products.
Mike Morgan, a sales representative for a major food service distributor of Warm Delights, wanted to encourage repeat purchases by his grocery customers. In order to accomplish this objective, Morgan offered the following discounts to his customers: a 10 percent discount for buying 1-49 cases of Warm Delights within a calendar month; a 12-percent discount if 50-99 cases of Warm Delights are purchased within the same calendar month; and a 15-percent discount if 100 or more cases of Warm Delights are purchased within the same calendar month. What type of discount was Morgan offering his grocery customers?
A. a seasonal discount
B. a quantity discount
C. a cash discount
D. a trade discount
E. a partial-payment discount
Whenever Donald calls on potential pest control customers, he emphasizes the fact that, unlike the national franchise competitors, he is a local business person and has been in business over twenty years. Donald is_____ his business relative to his competition.
A. segmenting
B. repositioning
C. positioning
D. valuing
E. re-mapping
Which of the following is true of the in-depth interview method?
A. In-depth interviews can be used for sentiment mining.
B. The results of in-depth interviews can be used to make quick changes to the product roll.
C. In-depth interviews are relatively less time consuming.
D. The results of in-depth interviews can be used to develop surveys.
E. In-depth interviews cannot be used to establish an historical context.
