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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.
True
False
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.
True
False
Sometimes a feature will fall short of the requirements of one segment, while in another segment, it may provide more capability than is needed.
True
False
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.
True
False
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.
True
False
Price rebates are a short-term stimulant to market demand.
True
False
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.
True
False
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).
True
False
You can influence demand in a given market by your management of the sales people?
True
False
Most of your sales force decisions are made on what basis?
Regional
Local
State
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?
Inform
Persuade
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.
True
False
