BUAD 479 Quiz Questions and Answers Graded A+

BUAD 479 Quiz Questions and Answers Graded A+ Which of the following is not part of the product-market structure? - Answers Market Region Laddering is a: - Answers interviewing method for exploring attributes preferred, consequences desired and benefits sought With the MOA it is essential to estimate the number of customers in the market. What should be done to ensure a reasonable estimate of the number of customers for your product? - Answers identify the target market Traditionally product/service pricing has not been pursued from a cost perspective - Answers false The approach to understanding customer value described in Chapter 5 of the Cadotte and Bruce text book suggests: - Answers Attributes are the means by which consumers achieve desired end states The "zone of indifference" refers to: - Answers Small, unnoticeable differences in a product's level of performance The objective of a macro environmental analysis is to - Answers Identify the relevant demand forces, determine their relation, and predict how they might change in the future Which of the following is not a situation that can benefit from an MOA? - Answers A new product has been developed, but no price has been determined When designing new or improved products, some manufacturers spend a considerable amount of time just trying to catch up or keep up with new or improved products introduced by the competition. This often results in an inability to achieve strategic, competitive advantage. This would most likely be experienced by firms: - Answers that focus their R&D at the attribute level What is the order of the levels for the Customer Value Hierarchy - Answers Attributes, Consequences, Desired End States RJ Custom Bike Manufacturing has determined that the demand for the products and services offered by them is less elastic. With such an understanding of price elasticity, RJ Custom Bike Manufacturing should know that the less elastic the demand for their product is, the more advantageous it is for them to ________. - Answers raise the price Linda Parsons, a patron of La Petite Spa and Salon is willing to pay a premium price to use their services. However, her sister, Miranda who lives with her believes that La Petite Spa and Salon is overpriced. Such a wide variation in the perceptions of the two sisters about the prices charged by the salon can attributed to all of the following, EXCEPT: - Answers Differences among different salons in the area Dobla Chocolate, Inc. is using the market research process framework for identifying the opportunity space. Which of the following is a possible reason why the process may fail in Step 3 of the market research process framework? - Answers Consumers' evoked consideration set may be different than that used in the study Toyota Corporation has introduced a new version of the Prius Hybrid car that provides the same mileage as the earlier version but offers new luxury features like leather seats, voice-navigations systems, lane control, and auto cruise control. Such an innovation would be called a: - Answers Region II Innovation Samsung has introduced a new version of the Samsung Note that has a 20% larger screen size but a 5% lower battery life. Such an innovation would be called a: - Answers Region I Innovation Caterpillar, Inc. has determined that the starting point for pricing their machinery is the _____________, which is a measure of the benefits that the product delivers to the consumers, relative to other products, regardless of whether the consumer recognizes those benefits. - Answers Objective Value