How many market segments are in the simulation? (Please enter a number.) 2. Whic
ID: 446753 • Letter: H
Question
How many market segments are in the simulation? (Please enter a number.)
2.
Which of the following elements are included in the target market section? (select all that apply)
3.
Determine which of the following are product characteristics or market segment preferences and which are product options.
ABColor
ABWaterproof
ABCapacity
ABFeatures
ABShape
ABComfort
ABShape
ABDurability
ABMaterial
ABEco-friendly
4.
According to the student manual, a simplified model for Price Sensitivity was developed based on the Van Westendorp Price Sensitivity Meter (PSM.) PSM is a market technique for determining consumer price preferences. What are the 4 key price points?
5.
Which of the following distributors takes the highest cut and which take the lowest cut?
ABCDEFGHighest cut
ABCDEFGLowest cut
6.
According to the student manual, what are the two main components of the integrated communications section?
7.
What are the 6 "hubs" in the simulation?
How many market segments are in the simulation? (Please enter a number.)
2.
Which of the following elements are included in the target market section? (select all that apply)
A) market researchB) advertising
C) market segmentation
D) customer service
E) positioning
F) targeting
3.
Determine which of the following are product characteristics or market segment preferences and which are product options.
A. Product characteristic/preference B. Product optionABColor
ABWaterproof
ABCapacity
ABFeatures
ABShape
ABComfort
ABShape
ABDurability
ABMaterial
ABEco-friendly
4.
According to the student manual, a simplified model for Price Sensitivity was developed based on the Van Westendorp Price Sensitivity Meter (PSM.) PSM is a market technique for determining consumer price preferences. What are the 4 key price points?
5.
Which of the following distributors takes the highest cut and which take the lowest cut?
A. Direct Distribution B. University Store C. Online Discount Retailer D. Discount Retail Chain E. Department Store F. Fashion Boutique G. High End Outdoor StoreABCDEFGHighest cut
ABCDEFGLowest cut
6.
According to the student manual, what are the two main components of the integrated communications section?
7.
What are the 6 "hubs" in the simulation?
A) Promotion, Place, Price, Product, Advertising, CompetitorsB) Market Segments, Product, Price, Place, Promotion and Competitors
C) Product, Place, Promotion, Distribution, Market Segments and Price
D) Place, Promotion, Competitors, Market Segments, Market Research, Price
E) none of the above
Explanation / Answer
1.How many market segments are in the simulation? (Please enter a number.
Answer: 5
School Children, University Students, Urban Commuters, Outdoor Enthusiasts, Luxury Trend-followers
2.Which of the following elements are included in the target market section? (select all that apply)
Answer: Market research and Market segmentation.
3. Determine which of the following are product characteristics or market segment preferences and which are product options.
Answer:
Product characteristic/preference: AB Waterproof, AB Capacity, AB Comfort, AB Durability, AB Eco-friendly
Product option: AB Shape, AB Colour, AB Features, AB Shape, AB Material
4. According to the student manual, a simplified model for Price Sensitivity was developed based on the Van Westendorp Price Sensitivity Meter (PSM.) PSM is a market technique for determining consumer price preferences. What are the 4 key price points?
Answer:
5. Which of the following distributors takes the highest cut and which take the lowest cut?
Answer:
Highest cut: “Department stores” as it will include wholesalers and retailers both.
Lowest cut: “Direct distribution” as there is no retailer and wholesalers.
6. According to the student manual, what are the two main components of the integrated communications section?
Answer: The integrated communications system has two main components: choosing a positioning message and purchasing a promotional campaign
7. What are the 6 "hubs" in the simulation?
Answer: (B) Market Segments, Product, Price, Place, Promotion and Competitors
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