Reference no: EM132173910
1. Orange Superstore is largely customer centric and economical in its methods. The store sells the best quality products at prices that are lower than other stores. The store depends on the fact that its salespeople get better at completing their tasks over time. This method used by Orange Superstore is an example of _____.
proprietary knowledge strategy
sustained competitive advantage strategy
cost limitation strategy
cost advantage strategy
2. Which of the following is a feature of task specialization?
It enables employees to choose tasks that they are most capable of performing.
It enables workers to be more efficient and thus enables them to avoid loss of time.
It causes workers to be confused about the task at hand.
It results in job dissatisfaction because employees have to repeat the same functions over time.
3. Techno Inc. is a computer hardware company that gets its computer parts from countries that manufacture them for lesser price than what its competitors pay and at a better quality. This allows Techno to save on the prices paid for the raw materials and use them to increase its production volume. Which of the following is Techno Inc. practicing in order to attain cost advantage?
Wage rates
Raw material rates
Exchange rates
Transportation rates
4. Juan, the manager of Pvari, a chain of jewelry stores, claims that mass customization is the best way to create value for their products. Nate, the senior designer, believes that every product must be customized from the pre-production stage. Which of the following statements will strengthen Juan's claim?
The production costs will reduce to half if products are made in large scale.
Designers feel their creative skills will be underutilized in mass production.
Customers love the idea of designing their own jewelry from scratch.
Their clientele includes a niche group that prefers highly customized products.
5. The marketing department of a cosmetics brand conducts a research. 40% of its customers said that they prefer the brand because they do not need to reapply the product often, while 30% said that they chose the brand because the products are organic. If the brand segments the customers by the features of the cosmetics they prefer, the segmentation is primarily based on _____.
psychographics of wholesalers
demographics
brand image
product attributes
6. Kim, a consumer, is in the final stage of selecting a product. Which of the following is is true if her actions follow the typical consumption chain?
Kim is likely to be persuaded by the product attributes at this stage.
Service providers are likely to assist Kim in helping her use the product.
Service providers are likely to detect faults with the performance of the product.
Kim is unlikely to have become aware of her need for a product yet.
7. When products are differentiated through marketing, via advertisements, promotions, and other marketing activities, it is known as _____.
brand loyalty
brand availability
brand image
brand conflict
8. Which of the following is true of product differentiation?
It does not typically require higher costs.
It is a matter of customer thought and perception.
It is independent of intangible features such as brand image and value.
It cannot occur when two companies use similar technologies.
9. When firms rely on brand image to differentiate products, some of them associate their products with positive qualities in the minds of customers. These are known as _____.
prestige brands
utility brands
convenient brands
functional brands
10. Tracie, the CEO of Boney's Inc., wanted to analyze what customers think of their products. She began her survey by finding out how her customers become aware of their needs, how they find the products, how they purchase products, and how the products are serviced or repaired. These steps are part of:
mapping the consumption chain.
studying the production cycle.
mapping the supply chain.
studying the value chain.