Rachel

When Samsung Note 3 was mentioned in Walmart newspaper advertisements that announce weekly specials, Walmart received a 5% discount from Samsung. Which pricing tactic was used by Samsung?

Performance (promotional) allowances

When it comes to purchasing a product, millennials are usually affected by their lifestyle, attitudes towards life or technology. These influences are called?

Personal influences

When there is a change in price, the volume demanded by consumers also changed. This referred to what principle?

Price elasticity of demand

Toyota sell their cars in the low end of the price spectrum. This strategy caters to the price sensitive consumers and enables the corporation to compete with other well-known automotive companies such as Ford, Volkswagen, Renault and Vauxhall. Which pricing strategy is Toyota using here?

Price penetration

Tesla has invented the Roadster, which is claimed to be the quickest car in the world - accelerating from 0-60 in just 1.9 seconds and capable of a 250+mph top speed. Therefore, charge customers a lot of money to buy one. Which pricing strategy is Tesla using here?

Price skimming

A company objective is to achieve a net profit contribution of $2 million in fiscal year 2019. What is the objective option that the organization used in this case?

Profit maximization/ Maximizing profit

In which stage of the purchase decision process that the level, quality of service and dealer reputation matter?

Purchase decision

If Apple makes a capital investment of $50 million in 2019, it would require a pricing strategy that produces $5 million in profit to achieve the 10% objective. What is the objective option that the organization used in this case?

ROI

The purchase of a tube of Colgate or an Aquafina water bottle is referred to as what type of purchases?

Routine purchases

Four Seasons Hotel often offers 10% to 20% discounts prior to and after their prime season. In this case, customers receive what kind of discount?

Seasonal discount

At what level of selectivity that our eyes and minds notice only information that is of interest?

Selective Exposure

When Amy is on a diet, she always notices the products that have expressions such as "Gluten Free", "Dairy Free", "Sugar-Free". This is an example of?

Selective Exposure

In which component of the self-concept theory do people see themselves, see the role they play with themselves?

Self-Image

Tim Cook is the CEO of Apple and is famous for his talent in leading one of the most successful corporations in the world. He helps Apple gain more and more profit each year. Moreover, he also has a happy family and a lot of admiration from people around the globe. Now, he believes he can achieve what he wants. What level of need is Tim in now?

Self-actualization needs

Real Self, Self-Image, Looking-Glass Self and Ideal Self are 4 components of what?

Self-concept theory

In May, Rexall received a 10% discount from one of its suppliers because Rexall agreed to let that supplier introduce new products on some shelf space in December. Which price tactics was used in this case?

Slotting allowances

Alex turns 17 this year and is passionate about Nike, Adidas and Puma sneakers. He has recently asked his parents to buy him the $220 Yeezy Boost V2 Triple White from Adidas. He thinks when he wears them, his friends will admire him and like to be around him. What level of need is Alex in now?

Social needs

Butterfly spends their budget on hiring reference groups to hopefully persuade customers into buying their products and increase sales volume. What kind of influence does Butterfly benefit from here?

Social/cultural influence

What will happen when a monopoly in an industry set unfair prices and consumers must pay for their power source?

There will be regulations in place

To encourage channel members to charge prices that are in agreement with a manufacturer's overall marketing strategy, what can manufacturers do?

They provide for an adequate profit margin, treat all customers fairly and offer discounts to encourage volume buying or marketing support.

Sony is famous for its quality, which helps it to differentiate from competitors. Therefore, customers usually pay premium for a Sony product. Quality, the added value that Sony gives its consumers, is identified as ____?

brand equity

A product manager is also called a _______

brand manager

Apple is considered as stylish, cool, intuitive and innovative. Those characteristics are called?

brand personality

If one day Apple removed Ipod from its line of electronic products, a residual core of consumers would still use Ipod, which means that that decision would not be made lightly. In this case, what strategy in the decline stage would Apple be using?

deletion

As Mac is gaining its market share and increasing its sales volume thanks to new people using the product and repeat purchasers, competitors start to appear in the industry. Which stage of the product life cycle is Mac in?

growth stage

Iced coffee is the bestseller Tim Hortons in the summer. However, they want more revenue so they are now advertising more heavily in cold months to encourage consumers to think of iced coffee also as a cold-weather drink. Which market modification strategy is using by Tim Hortons?

increasing use

Price skimming strategy and price penetration strategy can be used in which stage of the product life cycle?

introduction stage

Samsung is in the stage where it has to reduce overall marketing costs by enhancing promotional and distribution efficiency because of declining profit and fierce price competition. Which stage of the product life cycle is Samsung in?

maturity stage

Customers may not realize that many of the most commonly used product brands—Crest toothpaste, Pantene shampoo, Gillette shaving cream, Pringles potato chips and Duracell batteries—in fact belong to one company, Proctor & Gamble (P&G). What branding strategy is using by P&G?

multi-branding strategy

Mac is the first cosmetic company in Canada and in its introduction stage. Their marketing managers is spending a lot of money on brand awareness and promoting product trial in order to trigger desire for the product class. What type of demand does "desire for the product class mean" relate to?

primary demand

There is a common approach to product modification to increase a product's value to consumers in which, for example, Microsoft Office sells Word, Excel, Access, and Powerpoint altogether. What is that approach?

product bundling

If Iphone is the product class, Iphone 8, 8s, X and XS are identified as?

product form

As Canadian is having a tendency to live healthier by eating "gluten free", "organic", "dairy free" or "sugar free" products, Walmart has decided to sell less fast foods or unhealthy products and sell more of the above kinds of merchandise. That tendency is referred to as what type of factor that trigger a repositioning action Walmart took?

rising trend

High-learning, low-learning, fashion and fad products refers to what dimension of the product life cycle?

shape

Campbell Soup is a commercial, legal name under which that firm does business. What is Campbell Soup called?

trade name

Dollarama has a combination of everyday substantial low prices and good product selection, so they secure and hold a certain position in the market. Which pricing strategy has been used by Dollarama?

Below competition

John moved out of his parents' house and has just bought a new one in downtown London. However, after talking to his mom and dad about how inconvenient it will be when he wants to visit them, he is wondering if that was a good decision. The state John is currently in is called?

Cognitive dissonance

Miley wants to a buy Tesla and has been spending a lot of time researching on the models that Tesla is offering. This purchase also involves a large amount of money and associated risks. If she makes the wrong decision, she will definitely be disappointed. What type of purchase decision is Miley going to make?

Complex purchase decision

Mary has just won the 649 lottery, so she is going buy an expensive, high-end automobile. After considering all the criteria, she is now into buying a car from one of the 3 brands Lamborghini, Ferrari, or Bugatti. To Mary, what is the name of the group that those 3 brands are in?

Evoked set

In which stage of the product's life cycle do competitors start to join the market

Growth stage

Cristiano Ronaldo has been invited to be the face of many cleansing products for men. Companies that hire Ronaldo focuses on which component of the self-concept theory?

Ideal Self

What are some cost reductions measures?

Improving production efficiency, using less-expensive materials and shrinking the size of a product

Anna is planning to buy an Iphone X, and she has been reading consumers discussions and reviews online. She also uses Instagram, Snapchat, Facebook and Twitter to see what her families, friends and relatives think about Iphone X. Which stage of the purchase decision process is she in now?

Information search

If Walmart's objective is to raise sales volume from $60 million to $75 million, an increase of 25% in 2019 and to increase market share from 30% to 35% in 2019, what would be the objective option that the organization used in this case?

Maximizing sales volume/market share

McDonald's usually offers coupons with the titles "Buy one, get one free" or "2 for price of 1". Which pricing tactic is applied in this situation?

Multiple-unit pricing