chapter 4 entrepreneurshipWhich is a reason why managers develop company objectives?

Which is an example of a company using brand extension?

Coca-Cola adding Caffeine-Free Diet Coke

When a business emphasizes the degree of excellence for a product, it is positioning the product by which factors?

Consumers

Marketers often condense USPs into short slogans due to which situation?

Customers tend to remember just one thing from an advertisement.

When considering the services to offer customers, a business should determine if a specific service would accomplish which goal?

Enhance customer satisfaction levels

If a company cannot fulfill its USP, what will most likely happen?

It will lose credibility

To appeal to a target market with slightly different needs, a business added a group of related items to its product mix. What is this group of items?

Line extension

Indirect channels of distribution are usually of which attribute than direct channels?

Longer

A hairstylist cutting the hair of a client is providing which example of a distribution channel?

Producer to consumer

Channel members should share an equal commitment to which component of the product?

Quality

To guard an USP from its competitors, which action should be performed?

Repeating it as much as possible

Which factor helps a business to determine its product mix?

Size and target market

When considering a new product for a company, Tom decided to introduce a product in only three states for a six-month period. Which action did he perform?

Test marketing

Which is a reason why managers develop company objectives?

To identify business purposes

Due to lackluster sales, the Elba Corporation has decided to eliminate several of its product lines. Elba's executives hope that by focusing on fewer product lines, they will see more profit. The Elba Corporation should plan to adjust which aspect of its product mix?

Width

Certain product characteristics often require a business to select intermediaries that have which specific components?

capabilities

Which characteristic is descriptive of a meaningful company objective?

measurable

During the distribution channel selection process, a producer should consider intermediary services and which other factors?

policies

A channel task should be performed by the channel member who has which attribute?

preforms its best

One way for a business to expand its product mix is by performing which action?

Acquiring another company

When a business expands its product mix, its goal is to accomplish which goal?

Appeal to more market segments with a wider variety of options