QUESTION Illegal imitations of national brand-name products are called copycat brands. Indicate whether the statement is true or false. ANSWER Answer: FALSE Explanation: Illegal imitations of national brand-name products are called knockoff brands.
Date: September 3rd, 2020
QUESTION Objectives used when assigning prices to things include matching or beating the competition, making products more affordable to certain people, and creating prestige. Indicate whether the statement is true or false. ANSWER Answer: TRUE Explanation: Three of the five pricing objectives are to match or beat the competition, to make products more affordable […]
Date: September 3rd, 2020
QUESTION The Macy’s star is a brand name. Indicate whether the statement is true or false. ANSWER Answer: FALSE Explanation: The Macy’s star is a brand mark, a part of a brand that cannot be expressed verbally.
Date: September 3rd, 2020
QUESTION Teresa is trying to sell her condo. It has been on the market for six weeks at $379,995 and so now she wants to lower the price. A new price of $375,995 would likely be received better by potential buyers than a price of $373,555. Indicate whether the statement is true or false. […]
Date: September 3rd, 2020
QUESTION Which of the following is NOT one of the four general classes of consumer goods and services? A) shopping B) ordinary C) specialty D) convenience E) unsought ANSWER Answer: B Explanation: B) The four general classes of consumer goods and services are convenience, shopping, specialty, and unsought. Ordinary is not one of them.
Date: September 3rd, 2020
QUESTION The purpose of break-even analysis is to find the revenue needed to cover the total cost of making a product. Indicate whether the statement is true or false. ANSWER Answer: TRUE Explanation: The purpose of break-even analysis is to find the break-even point—the point at which sales revenues equal costs; that is, at […]
Date: September 3rd, 2020
QUESTION A new company selling a variety of energy drinks has studied the case of Apple’s “true believers.” The company decided to design its marketing campaign to convince customers that buying its energy drinks will make them independent and innovative. It expects to convince a sizeable percentage of the market, who will then promote the […]
Date: September 3rd, 2020
QUESTION Which of the following, if true, most strengthens the argument above? A) All American Burger’s policy of posting nutritional information does not extend to new products. B) All American Burger’s competitors often experiment with different recipes offered in limited markets. C) The Hawaiian Burger sales were higher than the sales of the Slushpile, a […]
Date: September 3rd, 2020
QUESTION Which of the following, if true, most strongly supports the VP of operations’ position? A) Industry-leading companies tend to target as wide a market as possible. B) Female professionals are more likely to stay with a known brand for expensive items such as cars. C) Female professionals tend to have a strongly positive opinion […]
Date: September 3rd, 2020
QUESTION Which of the following, if true, weakens the VP of operations’ position? A) Success in the energy drink market was an important goal mentioned in the company’s annual report. B) Young males have demonstrated low awareness of many soda brands. C) Professionals tend to have more disposable income than nonprofessionals. D) Concern over social […]
Date: September 3rd, 2020
