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Novel Electronics sold 400 Technova smartphones in the first week of October 2013 at a price of $250 per unit. The following week, it reduced the price to $230 per unit and it saw sales increase by 20%. What is the price elasticity of demand of Technova smartphones?

A.

0.5

B.

1

C.

1.5

D.

2

E.

2.5

When advertising content appears to be native to a platform (a news article, independent website, organic search result), the ethical thing to do is to:

A.

warn users beforehand that the platform contains content from advertisers.

B.

make sure that users are led to the advertiser's content before native content.

C.

charge the advertiser per click and not per view.

D.

make the advertisement stand out by using bright colors for the font and background.

E.

conspicuously disclose when content is sponsored by an advertiser.

Which of the following stages of a product life cycle attracts laggards?

A.

introduction

B.

growth

C.

maturity

D.

harvest

E.

decline

Cuppa, a coffee-mug manufacturer, invests money in procuring equipment to produce custom prints on coffee mugs. Cuppa also releases a new line of eco-friendly porcelain mugs priced at $20 each. Cuppa spends $24,000 per month on its production, including employees' salaries. The cost of producing and packaging each mug is $12. Cuppa has a target profit of $8,000 a month. How many mugs should Cuppa sell to gain this profit?

A.

1,000

B.

2,000

C.

3,000

D.

4,000

E.

5,000

_____ appeal aims to satisfy consumers’ sensitive desires rather than their utilitarian needs.

A.

Emotional

B.

Ethical

C.

Informational

D.

Egoistic

E.

Logos

Peltz, a chewing gum manufacturer, markets chewing gum in a variety of flavors. The company also sells cardamom- and clove-flavored chewing gum under the Peltz brand. Five years after the introduction of the cardamom and clove flavors, the name Peltz is synonymous with cardamom- and clove-flavored chewing gum. Which of the following aspects of the Peltz brand is exemplified in this scenario?

A.

Brand awareness

B.

Perceived value

C.

Brand parity

D.

Brand loyalty

E.

Brand extension

Rudolf Freer Inc., an automobiles manufacturer, decides to create an all-weather golf cart. The decision is stimulated by the increasing popularity of snow-golfing. The R&D team of Rudolf develop a working model of the golf cart and simulate different weather conditions in the lab to see how the golf cart holds up. The golf cart is currently in the stage of _____.

A.

alpha testing

B.

beta testing

C.

market testing

D.

concept testing

E.

idea generation

In a franchise system,:

A.

the franchisor operates a retail outlet using a name and format developed and supported by the franchisee.

B.

the franchisee pays a lump sum plus a royalty on all sales in return for the right to operate a business in a specific location.

C.

the franschisee has complete control over the store design, products or services sold, management training, and advertising.

D.

franchisors receive all profits that the franchisees generate, and pay franchisees a fixed sum.

E.

franchisees are responsible for advertising, product development, and system development.

_____ requires a firm to maintain 100 percent ownership of its plants, operation facilities, and offices in a foreign country, often through the formation of wholly owned subsidiaries.

A.

Franchising

B.

Direct investment

C.

Licensing

D.

Joint venture

E.

Strategic alliance

If an endorser is represented as an actual user of the marketer’s product, the endorsement can only be used as long as:

A.

the endorser is given free samples to distribute to others.

B.

the endorser does not use a rival's products.

C.

the endorser is seen with the product in public.

D.

the endorser continues to use the product.

E.

the endorser purchases the product at least once in three months.