Target, a global discount retailer, generates around 65 billion dollars in sales, annually. Additionally, the company employs more than 360,000 people worldwide. Target stores carry just about every major brand imaginable. Additionally, Target carries a number of its own brands including Market Pantry, Archer Farms, and Up and Up. Each of the brand labels appears on different products throughout the storefor example, the Archer Farms label appears on the retailer's highest quality foods. The Market Pantry label appears on food items as well, however these items are often sold at a significantly lower price. The Up and Up label is on a large range of products ranging from paper products to household cleaning supplies. In a local newspaper, Target purchases and runs a message that does not refer to any of the products it carries. Instead, it mentions that employees from each of its national stores contribute to community projects such as The United Way. This is an example of:
a. corporate advertising.
b. a public service announcement.
c. direct response advertising.
d. advocacy advertising.
Question 2Service providers that use a yield management strategy
a. attempt to increase the number of people using the service while charging the maximum price possible.
b. attempt to control the costs of producing and delivering the service.
c. recognize that it is a difficult strategy to implement because of the inherent tradeoff between demand and price.
d. All of these are true.
e. None of these is true.
Question 3Which of the following types of financial ratios measures the ability of the franchise organization to turn sales into profits?
a. activity
b. market
c. profitability
d. coverage/leverage
Question 4Experimenting with the service setting allows managers to try out new setting features on a limited basis before embracing them.
Indicate whether the statement is true or false
Question 5Name and describe in detail the three primary methods of promoting brand recall. Give an example of each from familiar ads or commercials. Explain why brand recall is particularly relevant to the advertising of low- involvement goods and services.
Question 6Target, a global discount retailer, generates around 65 billion dollars in sales, annually. Additionally, the company employs more than 360,000 people worldwide. Target stores carry just about every major brand imaginable. Additionally, Target carries a number of its own brands including Market Pantry, Archer Farms, and Up and Up. Each of the brand labels appears on different products throughout the storefor example, the Archer Farms label appears on the retailer's highest quality foods. The Market Pantry label appears on food items as well, however these items are often sold at a significantly lower price. The Up and Up label is on a large range of products ranging from paper products to household cleaning supplies. In a majority of Target's promotions, the store is marketed as upscale, and this is demonstrated through its prices, which are generally higher than its biggest competitor, Walmart. Still, even in times of recession, Target continues to increase its annual revenues and retain many of its customers. This can be attributed to:
a. Target's low brand equity.
b. the inelasticity of demand shown by many of the company's customers.
c. Target's increase in gross domestic product (GDP).
d. the elasticity of demand shown by many of the company's customers.
Question 7Which of the following is NOT a type of price?
a. Commission paid to a stockbroker
b. Membership fee
c. Finance charge
d. All of these are types of prices.
e. None of these are types of prices.
Question 8Which of the following types of financial ratios measures how well a franchise meets its short-term debts or financial obligations?
a. liquidity
b. profitability
c. activity
d. coverage/leverage
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