_____ retailers offer an inconsistent assortment of brand name merchandise at a significant discount from the manufacturer's suggested retail price (MSRP).
A. Limited-line
B. Off-price
C. Hypermarket
D. Convenience
E. Extreme value
Kate buys a new summer dress but is worried that the color may fade during the first wash. This perceived danger that Kate is experiencing is known as _____ risk.
A. social
B. financial
C. physiological
D. performance
E. psychological
Calculate the brand development index of a company for a region where it earns 20% of its sales and in which 4% of the country's population resides.
A. 5
B. 20
C. 400
D. 500
E. 1000
_____ is a communication used to create and build brand awareness, with the ultimate goal of moving the consumer through the buying cycle to a purchase.
A. Product advertising
B. Reminder advertising
C. Personalized advertising
D. Persuasive advertising
E. Informative advertising
Which of the following is a feature of radio advertisements?
A. It enables personalization.
B. It is highly targeted.
C. It can be linked to detailed content.
D. It offers higher exposure periods.
E. It offers a wide reach.
Which of the following is true of price elasticity?
A. The lower the number of substitute products, the higher the price elasticity of demand for a given product.
B. Rises in income can lead to drops in price elasticity even though product prices are constant.
C. Products for which demand is highly inelastic are susceptible to minor changes in price.
D. Generally, if demand for a product is inelastic, lowering the price will appreciably increase demand.
E. Consumers are generally more sensitive to price decreases than to price increases.
A toy manufacturer realizes that its latest product presents a choking hazard due to some of the components used in the toy. This occured despite the prior implementation of safety measures to prevent such an occurrence. The toy manufacturer is faced with a decision to recall over a million products or place a warning label on each product. This type of situation is representative of _____.
A. an ethical dilemma
B. a law and order problem
C. unconscionable conduct
D. pyramid schemes
E. unfair contract terms
Jim wants to buy a business suit and has a particular brand in mind. However, he also states that he might consider buying three other more expensive brands as alternatives. In this scenario, these alternative brands constitute a _____ set.
A. distributive
B. psychological
C. safety
D. retrieval
E. evoked
Which of the following is an example of a contest?
A. Visit our website and win movie tickets
B. Avail our ""featured price"" discounts
C. Buy one, get one free
D. Player of the year sponsored by Mars Inc.
E. Leave your visiting card and win a trip to Bahamas
_____ strategies are designed to increase demand by focusing on wholesalers, retailers, or salespeople.
A. Push
B. Pull
C. Macro
D. Informative
E. Relationship
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