Consumer marketers direct their efforts to customers who are buying products to use either directly or indirectly to produce other products.
Indicate whether the statement is true or false
Question 2 - About one-third of franchised businesses fail during the first two years of operation.
Indicate whether the statement is true or false
Question 3 - Sara Lee Corporation is a large conglomerate of businesses participating in a variety of industries. A few years ago, Sara Lee was considering the purchase of Bryan Foods. If Bryan Foods represented a tremendous opportunity to make the company more successful, Sara Lee may, as a last resort, have considered
A) seeking short-term financing.
B) using trade credit to pay for Bryan Foods.
C) using future sales revenues for the purchase of Bryan Foods.
D) sharing the idea with competitors as a possible joint venture.
E) selling assets from another division to pay for Bryan Foods.
Question 4 - Caroline's Crafts 'N Things
Sarah works for a retail shop called Caroline's Crafts 'N Things. Sarah was often quite rude to customers when they annoyed her. One morning, her supervisor asked Sarah into her office and informed her that her behavior was unacceptable. To be rude to one customer could cause several customers not to come back. Sarah's supervisor told her that retaining a customer is much cheaper than trying to get a new one. After their constructive discussion, Sarah's boss told her that she wanted her to go out on the floor that day and attempt to be more helpful to customers.
Over the next few months, Sarah began to help customers learn more about the different products in the store and often explained why the customer might want to purchase one product over another. In doing so, she realized the importance of her role in the retail shop and began to truly enjoy her job. She started to think about the future of the company. She even thought that the company could do very well if it were to sell its products on eBay. When she brought this idea to her boss, her boss thought it was excellent, and asked Sarah to look further into the pros and cons of her idea.
After evaluating Sarah's research, her boss decided to move forward with the idea, asking Sarah to head up this new venture for the company. Sarah then realized that retail is not just about making the sale; the customer should be the focus of all operations. Sarah now looks up to her boss, and is very glad that she was there to mentor her.
Refer to Caroline's Crafts 'N Things. Caroline's purchased its Thanksgiving products in June. However, in October, when the store finally displays the Thanksgiving products, which form of utility is being provided?
A) Possession
B) Place
C) Market
D) Time
E) Form
Question 5 - When it comes to creating customer satisfaction, perceived value is just as important as actual value.
Indicate whether the statement is true or false
Question 6 - An agreement between two franchisors in which the two franchisors offer their products together is called double franchising.
Indicate whether the statement is true or false
Question 7 - Which of the following sources of funds would be the last resort for a corporation?
A) Sales revenues
B) Common stock
C) Preferred stock
D) Debt capital
E) The sale of assets
Question 8 - Caroline's Crafts 'N Things
Sarah works for a retail shop called Caroline's Crafts 'N Things. Sarah was often quite rude to customers when they annoyed her. One morning, her supervisor asked Sarah into her office and informed her that her behavior was unacceptable. To be rude to one customer could cause several customers not to come back. Sarah's supervisor told her that retaining a customer is much cheaper than trying to get a new one. After their constructive discussion, Sarah's boss told her that she wanted her to go out on the floor that day and attempt to be more helpful to customers.
Over the next few months, Sarah began to help customers learn more about the different products in the store and often explained why the customer might want to purchase one product over another. In doing so, she realized the importance of her role in the retail shop and began to truly enjoy her job. She started to think about the future of the company. She even thought that the company could do very well if it were to sell its products on eBay. When she brought this idea to her boss, her boss thought it was excellent, and asked Sarah to look further into the pros and cons of her idea.
After evaluating Sarah's research, her boss decided to move forward with the idea, asking Sarah to head up this new venture for the company. Sarah then realized that retail is not just about making the sale; the customer should be the focus of all operations. Sarah now looks up to her boss, and is very glad that she was there to mentor her.
Refer to Caroline's Crafts 'N Things. When Sarah was brought into her boss's office, what was her manager trying to explain?
A) Customer motivation
B) Customer lifetime value
C) Disposable income
D) Marketing information system
E) Possession utility
Question 9 - Marketers should only concentrate on creating the actual value of a product.
Indicate whether the statement is true or false
Quick Reply
