Resultsch14
.pdf
keyboard_arrow_up
School
University of Winnipeg *
*We aren’t endorsed by this school
Course
1202
Subject
Business
Date
May 1, 2024
Type
Pages
1
Uploaded by LieutenantWolverinePerson1109 on coursehero.com
Contemporary Business Chapter 14
Date / Time
Student Score
Passing Score
Result
March 14, 2024
1:43 am
84.61
50
Pass
Contemporary Business Chapter 14
#
Question
Correct
Answer
Student
Answer
Result
Points
Awarded
1
From what Marco has shared, how would you advise
Marco to proceed?
Marco should
create a sales
incentive plan
for his retail
employees to
achieve
certain sales
goals during
periods of
slow sales.
Marco should
create a sales
incentive plan
for his retail
employees to
achieve
certain sales
goals during
periods of
slow sales.
Correct
1
2
Which is more likely?
Marco’s
promotional
strategy
should focus
on product
differentiation.
This is
consistent
with Marco’s
goals.
Marco’s
promotional
strategy
should focus
on making
sure that
product value
is
accentuated.
This will
make his
designs more
attractive
than those of
his
competitors.
Incorrect
0
3
Ads for breakfast cereals containing nutritional data
providing
information
providing
information
Correct
1
4
Positioning a product as upscale, expensive, high
quality, and exclusive
differentiating
a product
differentiating
a product
Correct
1
5
Lowering hotel room rates during the off season
stabilizing
sales
stabilizing
sales
Correct
1
6
Placing stickers on a car’s windshield to remind a
customer of their next oil change date
stabilizing
sales
stabilizing
sales
Correct
1
7
Hair care ads promoting benefits such as shine and
volume
providing
information
providing
information
Correct
1
8
Expanding a product line to appeal to another
demographic
increasing
sales
increasing
sales
Correct
1
9
A car dealership offering a 4-year roadside assistance
package with no mileage limits
accentuating
product value
accentuating
product value
Correct
1
10
Adding new designs and colors to a popular line of T-
shirts
increasing
sales
increasing
sales
Correct
1
11
Offering an “affordable” laptop computer
differentiating
a product
differentiating
a product
Correct
1
12
Marco would like to differentiate his product from that
of his competitors but still make his clothing
affordable. Which pricing objective would satisfy this
goal?
pricing to
meet
competition
pricing to
meet
competition
Correct
1
13
Which of the following pricing objectives is Mitchell
suggesting Marco adopt?
prestige
objective
prestige
objective
Correct
1
14
Reducing the amount of product within a package but
keeping the price steady
profitability
objective
profitability
objective
Correct
1
15
Company A acquires Company B in order to capture
25% of the available market share for a particular
product line or category.
volume
objective
volume
objective
Correct
1
16
A gas station lowers its price to match the price of
other gas stations within the same neighborhood.
pricing to
meet
competition
pricing to
meet
competition
Correct
1
17
A company charges high prices for its product based
on perceived image and exclusivity.
prestige
objective
prestige
objective
Correct
1
18
Review the email and determine which pricing
strategy the sender is likely suggesting.
skimming
pricing
skimming
pricing
Correct
1
19
Review the email and determine which pricing
strategy the sender is likely suggesting.
cost-based
pricing
cost-based
pricing
Correct
1
20
Review the email and determine which pricing
strategy the sender is likely suggesting.
everyday low
pricing
everyday low
pricing
Correct
1
21
Review the email and determine which pricing
strategy the sender is likely suggesting.
competitive
pricing
competitive
pricing
Correct
1
22
Determining the total cost to produce a product and
then adding a markup to cover overhead costs and
generate profit.
cost-based
pricing
competitive
pricing
Incorrect
0
23
Setting intentionally high prices relative to the prices
of competing products. This strategy often works well
for new products or services that have little to no
competition or to help distinguish a company’s high-
end products from those of its competitors.
skimming
pricing
cost-based
pricing
Incorrect
0
24
Maintaining continuous low prices rather than relying
on short-term price-cutting tactics such coupons,
rebates, or special sales.
everyday low
pricing
skimming
pricing
Incorrect
0
25
An attempt to reduce the emphasis on price by
matching other companies’ prices and concentrating
on its own marketing efforts related to the product,
distribution, and promotional elements of the
marketing mix.
competitive
pricing
competitive
pricing
Correct
1
26
From what you now know about the various pricing
strategies and based on Marco’s business goals,
which option would you suggest Marco use?
competitive
pricing
competitive
pricing
Correct
1
Discover more documents: Sign up today!
Unlock a world of knowledge! Explore tailored content for a richer learning experience. Here's what you'll get:
- Access to all documents
- Unlimited textbook solutions
- 24/7 expert homework help
Related Questions
CVP Analysis; Commissions; Ethics Lionel Corporation manufactures pharmaceutical products sold through a network of sales agents in the United States and Canada. The agents are currently paid an 18% commission on sales; that percentage was used when Lionel prepared the following budgeted income statement for the fiscal year ending June 30, 2019: Lionel Corporation Budgeted Income Statement For the Year Ending June 30, 2019 ($000 omitted) Sales $28,500 Cost of goods sold Variable $12,825 Fixed 3,500 16,325 Gross profit $12,175 Selling and administrative costs Commissions $ 5,130 Fixed advertising cost 800 Fixed administrative cost 2,150 8,080 Operating income $ 4,095 Fixed interest cost 705 Income before income taxes $ 3,390 Income taxes (30%) 1,017 Net income $ 2,373 Since the completion of the income statement, Lionel has learned that its sales agents are requiring a 5% increase in their commission rate (to 23%) for the upcoming year. As a result, Lionel’s president has…
arrow_forward
Required:
• Identify the issue/problem
• Prepare Alternative Courses of Action (3-5 ACA)
• Recommend the best course of action.
arrow_forward
Mr. Mohammed is appointed as a Sales Executive of Tiles selling section of Danube Home. He has been assigned the task of selling the floor tiles through personal selling mode. He was given on the job training for three months by a senior executive of floor tiles regarding finding sales sources, creating good relationship with the prospect, making effective presentation, presentation techniques etc. As he is new to the job, he is finding very difficult to understand and find the sources of good prospects.
Q- Describe the type of sales presentation that will be suitable to Mr. Mohammed according to the business and steps to be followed in the presentation.
arrow_forward
Carl Hightop, a popular basketball player, has been offered a four-year salary deal. He can either accept $4 comma 700 comma 000 now or accept quarterly amounts of $330 comma 000 payable at the end of each quarter. If money can be invested at 4.8% compounded monthly, which option is the better option for Carl and by how much?
Question content area bottom
Part 1
The
▼
lump sum
quarterly payments
option is better by $
enter your response here.
(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed
arrow_forward
Managers of Best Buy had just implemented an e-commerce platform to expand their business in terms of customer base.Best Buy is a clothing retail store that offers value for money on clothing items for the family. Based on this, complete the tasks that follow.
Question 2Discuss ANY FIVE (5) popular payment methods for Best Buy to include in the e-commerce platform.
arrow_forward
Section 3: Sales Call Objective
3. Sales Call Objective (must require customer action):
(continued)
Section 4: Linking Buying Motives, Benefits, Support Information, and other Reinforcement
Methods
4. Linking Buying Motives, Benefits, Support Information, and other Reinforcement Methods.
(Repeat for each influencer who will be involved in the upcoming sales call.)
A. Buying Motives: What is
most important to the
prospect(s) in making a
purchase decision? Rational
motives include economic
issues such as quality, cost,
service capabilities, and the
strategic priorities of the
prospect's company. Emotional Each benefit should
motives include fear, status,
and ego-related feelings. List
all relevant buying motives in
order of importance.
B. Specific Benefits Matched C. Information D. Where
appropriate,
to be stressed are arranged support claims methods for
reinforcing verbal
content (Audio/
Visual, collateral
material,
illustrations,
testimonials, etc.).
to Buying Motives: Benefits needed…
arrow_forward
Moving to another question will save this response.
Question 27
The Landmark Tours will include all of the following in the third part of the marketing strategy statement EXCEPT
O a. profit goals
O b. long-run sales
Oc. marketing mix strategies
O d. none of these
O e. short-run sales
hp
arrow_forward
What would be a good justification/rationale for choosing
Topic: The impact of working in the hotel industry during Covid-19
Research Question: How has covid-19 affected the day-to-day operations and productivity as it relates to face-to-face and remote working at the hotel, and the lives of the employees. What is life like during and post pandemic?
arrow_forward
Student Portal | Main
BUS-660 Topic 1 DQ 1
/ilm/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false
eBook
X
X
State of Nature
Decision Alternative Strong Demand S₁ Weak Demand S₂
Small complex, d₁
7
6
Medium complex, d₂
12
6
Large complex, d3
19
-9
CengageNOWv2 | Online teachin X MindTap-Cengage Learning
Problem 4-11 (Algorithmic)
Following is the payoff table for the Pittsburgh Development Corporation (PDC) Condominium Project. Amounts are in millions of dollars.
x +
A
million, the large complex remains the best decision.
30 G
Suppose PDC is optimistic about the potential for the luxury high-rise condominium complex and that this optimism leads to an initial subjective probability assessment of 0.8 that demand will be strong (S₁) and a corresponding probability of
0.2 that demand will be weak (S₂). Assume the decision alternative to build the large condominium complex was found to be optimal using the expected value approach. Also, a…
arrow_forward
Create a detailed marketing plan for ta credit card product. Your plan should cover all essential aspects of marketing strategy and implementation, and it should be well-supported by relevant research and analysis.Assignment Guidelines:1. Product/Service Selection : Choose a specific banking product or service to focus on.Explain why you believe this product or service is needed in your community/country andhow it aligns with current market trends and demands.2. Market Analysis : Conduct a thorough analysis of your target market. Define the targetaudience and provide demographic, psychographic, and behavioral insights. Identifycompetitors and analyze their strengths and weaknesses.3. Marketing Objectives and Goals : Set clear and achievable marketing objectives for thenew product/service launch. These objectives should be specific, measurable, attainable,relevant, and time-bound (SMART).4. Marketing Strategy : Develop a comprehensive marketing strategy that includes the 4Ps(Product,…
arrow_forward
Under Staples’ “Easy Rebates” program, customers cansubmit most of their rebate applications online for productspurchased over the Internet, through the catalog, and inStaples stores. Customers may also submit several rebates atonce and receive emails about the status of their rebates atevery stage.27 Staples claims the rebates are processed muchfaster than those of other companies. Do you think the “EasyRebates” program will increase the number of rebates customers actually submit? Why or why not? Do you think otherfirms will follow with similar programs?
arrow_forward
Company Name: Floward (flowers Market)
Create a campaign for your company to launch, starting January 2021 till December, that will be active for 12 months. Marketing budget: SR 450,000 to spend on digital advertising media over the next 12 months. The budget also includes up to SR 340,500 for advertising creative and content development, and for the company to manage the program.
What is your digital marketing campaign Schedule: recommend digital marketing content and the schedule for the content? (Must include timeline for the content distribution, frequency of posts and ads).
arrow_forward
The Westchester Chamber of Commerce periodically sponsors public service seminars and programs. Currently, promotional plans are under way for this year's program. Advertising alternatives include television, radio, and online. Audience estimates,
costs, and maximum media usage limitations are as shown. Constraint Audience per advertisement Radio Cost per advertisement Maximum media usage Television Online Radio Budget Online Budget Television Total Audience 300,000, radio $54,000,
online $120,000 cost per advertisement on telivision $2,000, radio $300, online $600. maxium media usage for television is 10, for radio, 20, online is 10To ensure a balanced use of advertising media, radio advertisements must not exceed 50% of the total
number of advertisements authorized. In addition, television should account for at least 10% of the total number of advertisements authorized. (a) If the promotional budget is limited to $22,800, how many commercial messages should be run on each
medium to…
arrow_forward
Discussion Question #1: Using the components of the 4E framework, discuss how an entrepreneur marketing low-sugar candy might apply it to their marketing mix efforts.
arrow_forward
Q:
Discuss about any existing company showing the main issues and give recommendations to someone who want to start his own business.
arrow_forward
Mr. Mohammed is appointed as a Sales Executive of Tiles selling section of Danube Home. He has been assigned the task of selling the floor tiles through personal selling mode. He was given on the job training for three months by a senior executive of floor tiles regarding finding sales sources, creating good relationship with the prospect, making effective presentation, presentation techniques etc. As he is new to the job, he is finding very difficult to understand and find the sources of good prospects.
Q- Discuss 8 sources of finding good prospects according to his sales requirements.
(200 words)
arrow_forward
Our Mission"IIE MSA provides innovative and exceptional learning experiences to students in a way that ensures intellectual engagement and critical thinking. Our students are empowered to maximise their potential and equipped to meet real needs to advance the development of society".
Q1. Typically, a mission statement answers specific questions about a business. Evaluate at least five questions that the IIEMSA mission statement answers.
arrow_forward
QUESTION 16
On the portfolio analysis, a firm
O a. formulates a short-term marketing plan
O b. assesses its strengths and weaknesses
O C. performs a SWOT analysis
O d. assesses the effectiveness of its varlous channel Intermediaries
O e. assesses the attractiveness of its varlous SBUS
after distinguishing the key businesses that make up the firm.
QUESTIODLA
arrow_forward
Q3. What threats should Managing Director of Amul india Sodhi consider the most pressing? What opportunities present themselves as most achievable. (Word limit up to 150 words)
arrow_forward
Problem Identification. Problem below.
"Stressed because exam season and asked for fewer hours but received more than he can handle"
Alternatives and Solutions: Also, suggest an alternative. which the member could have used to address that problem. Suggest the pros and cons of the suggested alternative. Alternative below
"Ask for a leave of absence"
Pro-
Pro-
Con-
Con-
arrow_forward
OSHA Subject ( give a detailed answer)
arrow_forward
Question 4
Critically assess the elements in the SOSTAC Model and their influence on the marketing
activities of an educational institution. What are the implications for strategic marketing
plan development?
arrow_forward
2) Define critical success factors (CSFs) and key performance indicator (KPIs) and explain how the administration at a college might use a CSF, such as improving graduation rates, to create a list of KPIs necessary to achieve this goal.
arrow_forward
ACTIVITY: CREATE YOUR OWN. Directions: Think of a product that is essential to the customers in times of pandemic. Make sure that it will be useful to the daily lives of your target customers. And give its benefits.
arrow_forward
Manage Your Health, Inc. (MYH) is a Fortune 500 company that provides a variety
of healthcare services across the globe. MYH has more than 20,000 full-time
employees and more than 5,000 part-time employees. MYH recently updated its
strategic plan; key goals include reducing internal costs, increasing cross-selling of
products, and exploiting new Web-based technologies to help employees,
customers, and suppliers work together to improve the development and delivery
of healthcare products and services. Below are some ideas the IT department has
developed for supporting these strategic goals:
1. Recreation and Wellness Intranet Project: Provide an application on
the current intranet to help employees improve their health. A recent study
found that MYH, Inc. pays 20 percent more than the industry average for
employee healthcare premiums, primarily due to the poor health of its
employees. You believe that this application will help improve employee
health within one year of its rollout so…
arrow_forward
SEE MORE QUESTIONS
Recommended textbooks for you
BUSN 11 Introduction to Business Student Edition
Business
ISBN:9781337407137
Author:Kelly
Publisher:Cengage Learning
Essentials of Business Communication (MindTap Cou...
Business
ISBN:9781337386494
Author:Mary Ellen Guffey, Dana Loewy
Publisher:Cengage Learning
Accounting Information Systems (14th Edition)
Business
ISBN:9780134474021
Author:Marshall B. Romney, Paul J. Steinbart
Publisher:PEARSON
International Business: Competing in the Global M...
Business
ISBN:9781259929441
Author:Charles W. L. Hill Dr, G. Tomas M. Hult
Publisher:McGraw-Hill Education
Related Questions
- CVP Analysis; Commissions; Ethics Lionel Corporation manufactures pharmaceutical products sold through a network of sales agents in the United States and Canada. The agents are currently paid an 18% commission on sales; that percentage was used when Lionel prepared the following budgeted income statement for the fiscal year ending June 30, 2019: Lionel Corporation Budgeted Income Statement For the Year Ending June 30, 2019 ($000 omitted) Sales $28,500 Cost of goods sold Variable $12,825 Fixed 3,500 16,325 Gross profit $12,175 Selling and administrative costs Commissions $ 5,130 Fixed advertising cost 800 Fixed administrative cost 2,150 8,080 Operating income $ 4,095 Fixed interest cost 705 Income before income taxes $ 3,390 Income taxes (30%) 1,017 Net income $ 2,373 Since the completion of the income statement, Lionel has learned that its sales agents are requiring a 5% increase in their commission rate (to 23%) for the upcoming year. As a result, Lionel’s president has…arrow_forwardRequired: • Identify the issue/problem • Prepare Alternative Courses of Action (3-5 ACA) • Recommend the best course of action.arrow_forwardMr. Mohammed is appointed as a Sales Executive of Tiles selling section of Danube Home. He has been assigned the task of selling the floor tiles through personal selling mode. He was given on the job training for three months by a senior executive of floor tiles regarding finding sales sources, creating good relationship with the prospect, making effective presentation, presentation techniques etc. As he is new to the job, he is finding very difficult to understand and find the sources of good prospects. Q- Describe the type of sales presentation that will be suitable to Mr. Mohammed according to the business and steps to be followed in the presentation.arrow_forward
- Carl Hightop, a popular basketball player, has been offered a four-year salary deal. He can either accept $4 comma 700 comma 000 now or accept quarterly amounts of $330 comma 000 payable at the end of each quarter. If money can be invested at 4.8% compounded monthly, which option is the better option for Carl and by how much? Question content area bottom Part 1 The ▼ lump sum quarterly payments option is better by $ enter your response here. (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as neededarrow_forwardManagers of Best Buy had just implemented an e-commerce platform to expand their business in terms of customer base.Best Buy is a clothing retail store that offers value for money on clothing items for the family. Based on this, complete the tasks that follow. Question 2Discuss ANY FIVE (5) popular payment methods for Best Buy to include in the e-commerce platform.arrow_forwardSection 3: Sales Call Objective 3. Sales Call Objective (must require customer action): (continued) Section 4: Linking Buying Motives, Benefits, Support Information, and other Reinforcement Methods 4. Linking Buying Motives, Benefits, Support Information, and other Reinforcement Methods. (Repeat for each influencer who will be involved in the upcoming sales call.) A. Buying Motives: What is most important to the prospect(s) in making a purchase decision? Rational motives include economic issues such as quality, cost, service capabilities, and the strategic priorities of the prospect's company. Emotional Each benefit should motives include fear, status, and ego-related feelings. List all relevant buying motives in order of importance. B. Specific Benefits Matched C. Information D. Where appropriate, to be stressed are arranged support claims methods for reinforcing verbal content (Audio/ Visual, collateral material, illustrations, testimonials, etc.). to Buying Motives: Benefits needed…arrow_forward
- Moving to another question will save this response. Question 27 The Landmark Tours will include all of the following in the third part of the marketing strategy statement EXCEPT O a. profit goals O b. long-run sales Oc. marketing mix strategies O d. none of these O e. short-run sales hparrow_forwardWhat would be a good justification/rationale for choosing Topic: The impact of working in the hotel industry during Covid-19 Research Question: How has covid-19 affected the day-to-day operations and productivity as it relates to face-to-face and remote working at the hotel, and the lives of the employees. What is life like during and post pandemic?arrow_forwardStudent Portal | Main BUS-660 Topic 1 DQ 1 /ilm/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false eBook X X State of Nature Decision Alternative Strong Demand S₁ Weak Demand S₂ Small complex, d₁ 7 6 Medium complex, d₂ 12 6 Large complex, d3 19 -9 CengageNOWv2 | Online teachin X MindTap-Cengage Learning Problem 4-11 (Algorithmic) Following is the payoff table for the Pittsburgh Development Corporation (PDC) Condominium Project. Amounts are in millions of dollars. x + A million, the large complex remains the best decision. 30 G Suppose PDC is optimistic about the potential for the luxury high-rise condominium complex and that this optimism leads to an initial subjective probability assessment of 0.8 that demand will be strong (S₁) and a corresponding probability of 0.2 that demand will be weak (S₂). Assume the decision alternative to build the large condominium complex was found to be optimal using the expected value approach. Also, a…arrow_forward
- Create a detailed marketing plan for ta credit card product. Your plan should cover all essential aspects of marketing strategy and implementation, and it should be well-supported by relevant research and analysis.Assignment Guidelines:1. Product/Service Selection : Choose a specific banking product or service to focus on.Explain why you believe this product or service is needed in your community/country andhow it aligns with current market trends and demands.2. Market Analysis : Conduct a thorough analysis of your target market. Define the targetaudience and provide demographic, psychographic, and behavioral insights. Identifycompetitors and analyze their strengths and weaknesses.3. Marketing Objectives and Goals : Set clear and achievable marketing objectives for thenew product/service launch. These objectives should be specific, measurable, attainable,relevant, and time-bound (SMART).4. Marketing Strategy : Develop a comprehensive marketing strategy that includes the 4Ps(Product,…arrow_forwardUnder Staples’ “Easy Rebates” program, customers cansubmit most of their rebate applications online for productspurchased over the Internet, through the catalog, and inStaples stores. Customers may also submit several rebates atonce and receive emails about the status of their rebates atevery stage.27 Staples claims the rebates are processed muchfaster than those of other companies. Do you think the “EasyRebates” program will increase the number of rebates customers actually submit? Why or why not? Do you think otherfirms will follow with similar programs?arrow_forwardCompany Name: Floward (flowers Market) Create a campaign for your company to launch, starting January 2021 till December, that will be active for 12 months. Marketing budget: SR 450,000 to spend on digital advertising media over the next 12 months. The budget also includes up to SR 340,500 for advertising creative and content development, and for the company to manage the program. What is your digital marketing campaign Schedule: recommend digital marketing content and the schedule for the content? (Must include timeline for the content distribution, frequency of posts and ads).arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
- BUSN 11 Introduction to Business Student EditionBusinessISBN:9781337407137Author:KellyPublisher:Cengage LearningEssentials of Business Communication (MindTap Cou...BusinessISBN:9781337386494Author:Mary Ellen Guffey, Dana LoewyPublisher:Cengage LearningAccounting Information Systems (14th Edition)BusinessISBN:9780134474021Author:Marshall B. Romney, Paul J. SteinbartPublisher:PEARSON
- International Business: Competing in the Global M...BusinessISBN:9781259929441Author:Charles W. L. Hill Dr, G. Tomas M. HultPublisher:McGraw-Hill Education
BUSN 11 Introduction to Business Student Edition
Business
ISBN:9781337407137
Author:Kelly
Publisher:Cengage Learning
Essentials of Business Communication (MindTap Cou...
Business
ISBN:9781337386494
Author:Mary Ellen Guffey, Dana Loewy
Publisher:Cengage Learning
Accounting Information Systems (14th Edition)
Business
ISBN:9780134474021
Author:Marshall B. Romney, Paul J. Steinbart
Publisher:PEARSON
International Business: Competing in the Global M...
Business
ISBN:9781259929441
Author:Charles W. L. Hill Dr, G. Tomas M. Hult
Publisher:McGraw-Hill Education