Professional Certified Marketer
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Cinfy, an electronic appliances manufacturer, sells 30 pizza ovens, 60 coffee makers, and 90 sandwich toasters per day. Despite warnings from analysts, Cinfy hikes prices of its toasters from $150 to $180, and toaster sales fall by 40%. After this pricing strategy backfires, Cinfy decides that a 10% drop in demand is acceptable, but not more. Assuming that the elasticity of demand for the toasters remains constant, what is the maximum price hike that Cinfy can afford without letting the sales drop by more than 10%?
_____ is/are also known as the Digital Natives, because people in this group were born into a world that already was full of electronic gadgets and digital technologies, such as the Internet and social networks.
If a customer spends $40 on purchasing a company's product and spends $80 on other companies' products in the same product category, what is the company's share of customer wallet?
Which of the following is the function of programs and PSA's in the PR context?
Raymond is driving across town when he spots a billboard that reads, "When life begins…" He instantly recognizes this as the tagline for Voch Spa and expects to find a spa nearby. Which of the following aspects of a brand is exemplified in this scenario?
Which of the following is a key difference between B2B and B2C buying processes?
Spark, a manufacturer of consumer electronics, makes TVs, home theater systems, refrigerators, ACs, and microwave ovens. Spark's surround-sound system, Quadro, was a market leader a few years ago, before the market for large sound systems began to shrink. Despite its dip in market share and minimal profitability, Spark continues to produce Quadro. Spark offers Quadro for a highly discounted price when customers purchase its high-end LCD, LED, plasma, and 3D TV sets. Although the customers would not purchase Quadro as a standalone product at the same price, the combined offer increases the sales of both Quadro, and the other TV sets. In this scenario, Quadro is a _____.
Kreme, a biscuit manufacturer, offers retailers a 20% discount on its latest product, Coco-Bite. The discount offer comes with a rider that retailers have to feature the product in their promotional material. Kreme is offering a(n) _____ to its retailers.
Archer Daniels Midland Co. is the world’s largest cocoa-bean processor. It buys cocoa beans and converts them into cocoa powder and cocoa butter, which it then sells to companies like Hershey’s that manufacture consumer products that contain chocolate. In this scenario, ADM is in a(n) _____.
X-Pert Bikes sells bikes for people of all ages. The company is creating a new advertising campaign targeted only at existing customers, encouraging them to buy an X-Pert Bike the next time they want a bike. The company also begins an X-Pert Club for existing users of X-Pert Bikes, as research has shown that familiarity with a brand increases the chances of repeat purchases. In this case, X-Pert's campaign is aiming to build ______.
A toy manufacturer realizes that its latest product presents a choking hazard due to some of the components used in the toy. This occured despite the prior implementation of safety measures to prevent such an occurrence. The toy manufacturer is faced with a decision to recall over a million products or place a warning label on each product. This type of situation is representative of _____.
Calculate the brand development index of a company for a region where it earns 20% of its sales and in which 4% of the country's population resides.
Fly, a manufacturer of indoor and outdoor heaters, has production facilities that are not running at their full capacity because of piled up inventory. Fly offers a discount to retailers who purchase heaters while the weather is still warm, because the cold months are still at least three months away. Based on historical sales data, Digimart, a retailer, picks up 200 heaters from Fly at a discount of 30% on the usual price. This scenario is an example of a(n) _____.
Telcon, a mobile phone manufacturer, sells its flagship product, Pute, at $250 per unit. The fixed cost incurred by the company is $500,000, and the variable cost per unit is $150. What is the profit earned by Telcon if it sells 100,000 units of Pute?
BlueGreen Tech is conducting market research to discover potential customers who might be interested in its products. The company will also survey its existing customers to identify ways of selling them additional products from its product line. At which stage of the customer relationship management process is BlueGreen?
CL Foods, a fast-food chain, considers the entire community to be a potential target market. Moreover, the chain has stores in business districts, near schools and colleges and next to ball-parks. CL Foods is using a _____ strategy.
Unibix Inc. is developing its marketing plan. The company has identified the segments in the market that it can pursue. Which of the following should the company do next if it follows a typical planning process?
In the typical communication process, the message originates from the _____.
Three teenage girls spent hours at a store trying on various outfits, looking at possible combinations, and asking each other, “How do you think this outfit looks on me?” This situation is most closely related to which of the following situational influences?
Which of the following retailers offers a broad variety of merchandise, limited service, and low prices?
Which of the following is a tool used to determine amount of traffic using a site, visiting a blog or tweeting about it?
Which of the following is part of the final step in the ethical decision-making process?
Maya Designs is an interior design firm that specializes in designing office spaces. Which of the following is an ethical business practice, but not a corporate responsibility program at Maya?
Churches, educational organizations, and hospitals are considered _____ buyers.
Saleye Pharmaceuticals develops cheaper alternatives to proprietary drugs. Its mission statement states that it wants to create affordable medicine for everyone and create a healthier world. Saleye releases a new and improved version of its pain-relieving drug, Fento. Within a week, Saleye receives many complaints stating that the drug is inducing hallucinations and in some cases triggering certain anxiety disorders. Saleye was caught off-guard as its animal and human trials did not reveal any side effects. Saleye deliberated over the decision to recall the drug for over a week and by the time it eventually did, it had lost millions in stocks. Where did Saleye fail?
Torege, a video game developer, releases its new first-person shooter game, The Final Call. Torege prices the game at $100, while the rest of its products sell for below $40. Despite this obvious high pricing, hardcore gaming fans of Torege queue up to buy the game when it is released. Which of the following strategies does this scenario exemplify?
CL Inc. an American fast-food chain enters into an agreement with Mars Corp., a British firm. According to the terms of the contract, Mars Corp. can use CL's brand name, image, logo and business format for a specified fee. This type of market entry is known as _____.
The management team at Green Meadows Inc. is debating expanding its corporate social responsibility (CSR) budget for the year. Greg is against the proposal, saying that the expenditure on CSR activities does not profit the firm in any way. In his opinion, the money could be better invested in other activities, especially as the market is seeing some volatility. Paolo, however, says that investing in CSR will benefit the firm's reputation in its target market in the long run. Which of the following, if true, weakens Greg's argument?
What should a firm do to create a sustainable advantage based on product excellence?
_____ risks are those risks associated with the way people will feel if the product or service does not convey the right image.
Pluto Inc. runs a television and radio advertising campaign which involves several celebrities with the aim of creating a emotionally appealing to its customers. In this scenario, Pluto Inc. is using _____ media.
In the hierarchy of needs water, food, rest, and shelter would be considered _____ needs.
Whenever Donald calls on potential pest control customers, he emphasizes the fact that, unlike the national franchise competitors, he is a local business person and has been in business over twenty years. Donald is_____ his business relative to his competition.
What is the net promoter score of a company that has 6,431 promoters and 2,801 passives in survey conducted of 12,000 customers?
Dento Inc., a manufacturer of dental care products, faced a social media uproar when rumors spread that it was using ingredients from animal sources to create its products. The labels as such carried no evidence of this and this discovery was brought about by an independent researcher. The company's CEO and senior management did not know about these ingredients. Internal research revealed that containers used to hold Dento's products, produced by a vendor, used products derived from animal fat in the manufacturing process, but the product itself did not contain any fat. What should Dento do to prove that it is ethical?
The Better Business Bureau suggests that at least _____ of the sales should occur at a price for it to be used as a reference price.
TESTED 29 Mar 2024
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