Reference no: EM132265607
1. Which is an example of primary data that would be used by the Ashton-Drake Galleries to determine the popularity of its Precious Moments doll series?
- data gathered by a doll collectors club about its membership.
- observing how individuals react to the dolls when they first see them.
- an article on Precious Moments found in Parade, the Sunday magazine found in many newspapers.
- responses to a mail survey by National Family Opinion on how likely someone is to buy a collectible doll.
2. Which is WRONG about the various environmental forces:
- experts generally regard technology as the least important environmental area.
- demographic trends are the least controllable of the environmental forces affecting the firm.
- cultural trends tend to be long-term in their impact on consumption patterns.
- changing laws and regulations can create opportunities in the marketplace.
3. Which customer question is answered by a company’s value proposition?
- “why should I buy your brand rather than a competitor’s?”
- “how does your brand benefit me and society?”
- “what are the costs and benefits of your brand?”
- “what kind of experience will I have with products and services associated with this brand?”
4. The idea of value-based marketing requires firms to charge a price that:
- covers costs and generates a modest profit.
- includes the value of the effort the firm put into the product or service.
- captures the value customers perceive they are receiving.
- offers customer excellence above operational excellence.