In 2006, gaming giant Nintendo launched an innovative motion-sensing gaming console called the Wii. The Wii quickly took over as the leading gaming console because of its unique activity-enabling qualities, and for nearly four years, dominated hardware sales in the gaming industry as any true competition for the product was yet to be introduced. However, this changed in late 2010 as Sony introduced its own motion-detecting gaming system to the market, the Playstation Move. Sony has marketed the product as a superior product to Nintendo's, claiming that it is more precise and flaunts the Playstation's high-quality graphics. Sony's Move has been a topic of great debate, but the reception of the product over the long haul is yet to be seen. To dethrone the Wii, Sony will need to find a way to appeal to those that have not yet bought into motion-gaming.. And of course, it wouldn't hurt if Sony somehow found a way to entice Nintendo followers to switch over to its newest addition to the gaming industry. Individuals who have been using the Wii do not want to switch to the Move because they relate it to a superior gaming experience and also because it has been in the market for a long time. The Wii is an example of a product that has .
a. brand equity
b. brand variance
c. brand extension
d. elasticity of demand
Question 2The customer is an important element to consider when developing a service strategy under all of the following conditions EXCEPT when
a. there is a self-service feature to the service.
b. the service requires a high degree of personalization.
c. the customer has a high degree of direct contact with the service organization.
d. the service caters to numerous patrons simultaneously.
e. All of these conditions require the service organization to pay particular attention to the customer element when developing a service strategy.
Question 3A franchise's economic figures must be recorded, then transferred and balanced before final calculations can be determined. Which of the following sequences indicates the path taken by these figures during the accounting process?
a. journal, general ledger, financial statements
b. general ledger, journal, financial statements
c. financial statements, journal, general ledger
d. journal, financial statements, general ledger
Question 4When designing a service setting, it is not necessary to create an environment that balances the wants of the customers with the needs of the service employees.
Indicate whether the statement is true or false
Question 5Facing stiff competition from Walmart and K-mart, executives for Target stores have decided to focus on reaching more affluent shoppers and luring them away from traditional department stores. They have already expanded the products and brands they offer to include reasonably priced items by modern design masters. Target hopes to draw more affluent shoppers into its stores through a series of advertising campaigns that are presently in the planning stages. Most of the advertising budget will be directed to ads in regional luxury magazines, which, research shows, are frequently read by affluent individuals. Target managers feel that their potential customers, who are now shopping in department stores, must be persuaded to visit Target stores by recognizing the unique image, positive significance, and social meaning for their brand. Several methods might be used, but which of the following would be least effective in accomplishing this objective?
a. Slice-of-life
b. Hard-sell
c. Fear-appeal
d. Image ads
Question 6In 2006, gaming giant Nintendo launched an innovative motion-sensing gaming console called the Wii. The Wii quickly took over as the leading gaming console because of its unique activity-enabling qualities, and for nearly four years, dominated hardware sales in the gaming industry as any true competition for the product was yet to be introduced. However, this changed in late 2010 as Sony introduced its own motion-detecting gaming system to the market, the Playstation Move. Sony has marketed the product as a superior product to Nintendo's, claiming that it is more precise and flaunts the Playstation's high-quality graphics. Sony's Move has been a topic of great debate, but the reception of the product over the long haul is yet to be seen. To dethrone the Wii, Sony will need to find a way to appeal to those that have not yet bought into motion-gaming.. And of course, it wouldn't hurt if Sony somehow found a way to entice Nintendo followers to switch over to its newest addition to the gaming industry. Which of the following activities, if performed, would be considered as part of Sony's marketing mix?
a. Forecasting a five year financial plan to expand the firm
b. Restructuring the organization to increase employee efficiency
c. Hiring more workers into the firm
d. Launching an advertisement campaign in schools
Question 7Which of the following categories of customer interactions is (are) less likely to be problematic for service organizations?
a. Friendly interactions between customer and employee
b. Unfriendly interactions between customer and employee
c. Too (excessively) friendly interactions between customer and employee
d. Both A and C.
e. All three categories of customer interactions are unlikely to be problematic for service organizations.
Question 8Franchisors capitalizing or financing their businesses are generally required to disclose three key financial statements. Which of the following is not one of those statements?
a. income statement or operating statement
b. balance sheet or statement of financial position
c. net profit statement or bottom line
d. cash flow or cash budget statement
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