Question

Ben's Chia Seeds does not feel satisfied with the location and amount of shelf space it is given at Super Healthy Food Markets. This creates a source of

a. vertical conflict.

b. diagonal conflict.

c. horizontal conflict.

d. parallel conflict.

e. placement conflict.

2. Molson Coors is evaluating an idea for a new bottled water by using focus groups made up of young consumers to suggest brand names for the proposed product. This is an example of:

a		empowerment.
b		concept testing.
c		market testing.
d		TQM.
e		EDI.

3. U. S. Steel produces steel products used in automobiles and various other products. U. S. Steel's products are selling so well that it has decided to buy new equipment that will increase its production capacity. This example best illustrates

a		why the demand for a particular seller's equipment is inelastic.
b		derived demand.
c		why the industry demand for this kind of equipment is quite elastic.
d		that the market for installations is a "boom or bust" business.
e		All of the above are true.

4. Which of the following is FALSE?

a		Not every firm has a complete MIS.
b		An MIS tends to focus on recurring information needs.
c		An MIS identifies problems that need solving.
d		It is the job of the MIS specialist to ask for the right information in the right form.
e		An MIS shouldn't be the only source of information for managers while making decisions.

5. Susan Stewart had Ethan Allen brand living room furniture and wanted to buy a particular chair of the same brand. She made a few calls to find a store that had the chair in stock. When she found one, she went there and purchased the chair. For Susan, the chair was

	a	a homogeneous shopping product.
	b	a specialty product.
	c	an impulse product.
	d	a heterogeneous shopping product.
	e	an emergency product.

Answer 1

1.

Ben's Chia Seeds does not feel satisfied with the location and amount of shelf space it is given at Super Healthy Food Markets. This creates a source of

Correct answer is a. vertical conflict.

A vertical conflict is conflict that occurs between two different types of members in a channel say, a manufacturer, an agent, a wholesaler, or a retailer. In this case there is a conflict between manufacturer and retailer on location and shelf space aspect.

2. Molson Coors is evaluating an idea for a new bottled water by using focus groups made up of young consumers to suggest brand names for the proposed product. This is an example of:

Correct answer is b. Concept testing

Concept testing is an idea that is finally developed to a point where its benefits can be communicated to target consumers in order to assess their reactions and feedback.

3. U. S. Steel produces steel products used in automobiles and various other products. U. S. Steel's products are selling so well that it has decided to buy new equipment that will increase its production capacity. This example best illustrates

Correct answer is b. derived demand.

Derived demand is an economic term describing the demand for a good/service resulting from the demand for an intermediate or related good/service. In this case, steel is used as raw material automobiles and other products and there is derived demand for steel due to potential increase in demand for finished products.

4. Which of the following is FALSE?

Correct answer is b.An MIS tends to focus on recurring information needs.

5. Susan Stewart had Ethan Allen brand living room furniture and wanted to buy a particular chair of the same brand. She made a few calls to find a store that had the chair in stock. When she found one, she went there and purchased the chair. For Susan, the chair was

Correct answer is d. a heterogeneous shopping product.

In heterogeneous shopping, products features are important than product price. With heterogeneous shopping products, consumers look for the brand or image that works for them.

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