The Price and the Economic Environment - Assignment Example

1. Brand design is difficult for which of the following reasons?

   

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There are many components from which to choose

2. Before you select the design components for your target market, it is wise to review your customer's needs.

This is True.

3. As you make your selection of design components, it is wise to keep in mind all but one of the following things:

The benefits desired by the segment

4. In brand designing, what is the one thing that does not need to be done?

All of these are important i.e. Match up benefits and design features that are attractive to your target market. Consider the price your market will bear. Discover the market performance response curve and Position your brand.

5. In the Marketplace, it is generally recommended that you design a complete product assortment before you go past Quarter 3.

This is true

6. Sometimes a feature will fall short of the requirements of one segment, while in another segment, it may provide more capability than is needed.

This is true

7. What is the price/performance tradeoff? Higher performance features cost more, but will the target market pay more for these better features?

Quarter 3 decisions

8. The issue of pricing does not need to be addressed during your brand design efforts.

This is false

9. When deciding on price you should consider

All of the above

10. As a general guideline, your selling price should be approximately what percent more than your cost of goods?

At least 50% more

11. Why would you want to use a rebate?

Both a and b: Stimulate interest and create excitement

12. The more sensitive a segment is to price, the more likely it will switch to a brand with a lower price.

This is true

13. Price rebates are a short-term stimulant to market demand.

This is true

14. The sales priority is a clear indicator to the sales staff regarding which of the following?

Managements interest in selling one brand over the other brands when making sales calls.

15. You can favorably influence the sales of a brand by doing which of the following?

Having the sales staff receive special training in the target segment

16. If you offer a rebate on a brand, you can expect that 50 percent of all sales will result in a rebate request.

This is true

17. The downside of a rebate program is: You may be borrowing sales from the future

18. It is very important to test and know the price elasticity (sensitivity) of your target segments. This knowledge will help you to decide whether to use penetration pricing (deep price cuts), price rebates, or skim-the-cream pricing (premium prices).

This is true

19. You can influence demand in a given market by your management of the salespeople?

This is true

20. Most of your sales force decisions are made on what basis?

Regional

21. How would you indicate to your sales force which brand should be given the greatest emphasis when trying to sell to potential customers?

Assign it a priority of 1

22. Which of the following has the least effect on the number of units each salesperson can sell?

How much do you pay them

23. Advertising is an important part of the marketing mix. It can be used to do which of the following? Inform, persuade and reinforce the market relative to the qualities of your firm, your brands, and your distribution system

All of the above

24. An effective ad campaign can help you to outsell your competition, even if some of your brands are not perfectly positioned relative to the needs of your customers.

This is false