Popular fruit juice brand in the food and beverage market

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Reference no: EM132163134

1. Which of the following is the Pareto principle?

The majority of problems can be explained by one root cause.

The majority of problems can be explained by a few root causes.

The majority of problems can be explained by many symptoms.

The majority of problems can be explained by many root causes.

2. Tarow is a leading manufacturer of designer handbags. The company has stores all over the world and is especially famous for the high-quality leather used in its handbags. However, the company soon realizes that a cheap liquor brand has been using its logo for the past six months. In this scenario, the company owning the liquor brand is guilty of __________.?

a. conscious parallelism

b. tarnishment

c. reverse engineering

d. blurring

3. Latia is a popular fruit juice brand in the food and beverage market. Once the brand reaches the maturity stage of the product life-cycle, its growth rate begins to decline slowly. The company that owns the brand decides to adopt a market modification approach by increasing the consumption rate among its existing customers. Which of the following strategies is most likely to help the company achieve its goal?

a. Advertising the benefits of drinking Latia fruit juices more than once a day

b. Listing out reasons for potential customers to try Latia fruit juices

c. Identifying new market segments and strategizing on the best ways to enter them

d. Making changes to the packaging of Latia products

Reference no: EM132163134

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