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LP3.2 Assignment: Simulation This assignment will assess the following competency: 3. Evaluate effective product positioning techniques, and 4.

LP3.2 Assignment: Simulation This assignment will assess the following competency: 3. Evaluate effective product positioning techniques, and 4. Demonstrate the ability to exhibit sound marketing decision-making.

Your success in the PC industry depends first and foremost on which of the following?

The price

Brand design  

The economic environment

Both a and c

Brand design is difficult for which of the following reasons?

There are a wide variety of customers

There are many components from which to choose

It is difficult to decide which components provide which benefits for the end user

None of the above

Before you select the design components for your target market, it is wise to review your customers’ needs.



As you make your selection of components, it is wise to keep in mind all but one of the following things:

The benefits desired by the segment

How the computer will be used

The price the segment is willing to pay

The expertise of your sales force      

In designing your brand, what is the one thing that does not need to be done?

Match up benefits and features that are attractive to your target market

Consider the price your market will bear

Discover the market performance response curve

Position your brand

All of these are important     

In the Marketplace, it is generally recommended that you design a complete product assortment before you go past Quarter 3.



Sometimes a feature will fall short of the requirements of one segment, while in another segment, it may provide more capability than is needed.



What is the price/performance tradeoff?

Higher performance features cost more, but will the target market pay more for these better features?                    

Higher price means you have to have better features

Lower price means you have to have lower performance features

Both b and c

Quarter 3 decisions

The issue of pricing does not need to be addressed during your brand design efforts.



When deciding on price you should consider

What the market will bear

Your production costs

The price your competition will charge

All of the above          

As a general guideline, your selling price should be approximately what percent more than your cost of goods?

At least 50% more

At least twice the cost

Two to three times the production cost        

Why would you want to use a rebate?

Create excitement

Stimulate interest

To give money back to your customer

Both a and b   

The more sensitive a segment is to price, the more likely it will switch to a brand with a lower price.



Price rebates are a short-term stimulant to market demand.



The sales priority is a clear indicator to the sales staff regarding which of the following?

Management’s interest in selling one brand over the other brands when making sales calls.       

How to price the brands

Where to locate the brands in the office

All of the above

You can favorably influence the sales of a brand by doing which of the following?

Having the sales staff receive special training in the target segment                     

Giving the sales force free rein to do what they want

Decreasing sales force pay

a and b

If you offer a rebate on a brand, you can expect that 50 percent of all sales will result in a rebate request.



The down side of a rebate program is:

You may be borrowing sales from the future                       

Lost sales

Low incentive to purchase products

All of the above

It is very important to test and know the price elasticity (sensitivity) of your target segments. This knowledge will help you to decide whether to use penetration pricing (deep price cuts), price rebates, or skim-the-cream pricing (premium prices).



You can influence demand in a given market by your management of the sales people?



 Most of your sales force decisions are made on what basis?




None of the above

How would you indicate to your sales force which brand should be given the greatest emphasis when trying to sell to potential customers?

Assign it a priority of 1          

Assign it a priority of 10

Which of the following has the least effect on the number of units each sales person can sell?

How much you pay them       

The price of your brand relative to the price your customers are willing to pay

Whether your customers like your brand better than your competitors’ brands

Where your sales office is located

Advertising is an important part of the marketing mix. It can be used to do which of the following?



Reinforce the market relative to the qualities of your firm, your brands, and your distribution system

All of the above          

An effective ad campaign can help you to outsell your competition, even if some of your brands are not perfectly positioned relative to the needs of your customers.



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