QUESTION: 57

Which of the following is an advantage of secondary data collection?

It always provides data that is specific to immediate needs.
It requires sophisticated training and hence is always accurate.
It offers in-depth consumer behavioral insights.
It guarantees information without bias.
It saves time and effort in collecting and analyzing.

Answer(s): E

X-Pert Bikes sells bikes for people of all ages. The company is creating a new advertising campaign targeted only at existing customers, encouraging them to buy an X-Pert Bike the next time they want a bike. The company also begins an X-Pert Club for existing users of X-Pert Bikes, as research has shown that familiarity with a brand increases the chances of repeat purchases. In this case, X-Pert's campaign is aiming to build ______________.

brand awareness
brand dilution
brand parity
brand extension
brand loyalty

Answer(s): E

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QUESTION: 59

A Macy's manager designs the casual clothing department such that one of Macy's private label pairs of jeans, priced at $24.99, is positioned next to a national brand of jeans, such as Levis, priced at $39.99. What is the manager attempting to accomplish?

Everyday low prices strategy
Odd-even pricing strategy
Prestige pricing strategy
Special-event pricing strategy
Reference pricing strategy

Answer(s): E

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QUESTION: 60

Talyn Cosmetics sells high-end cosmetics that are coveted by women, but are priced out of the budgets of most average buyers. Talyn wants to enter the Arian market and is conducting market research to identify the market segment on which it should focus its strategy. Researchers send out a questionnaire to a vast pool of potential customers in Aria and analyze the results. Which of the following questions should research analysts focus on to identify the target segment?

Would you choose Talyn Cosmetics over other cosmetics brands in the market? Why?
Would you be interested in buying Talyn Cosmetics? What is the most you would be willing to spend on a brand of cosmetics?
What is your preferred mode of purchase of cosmetics--retail stores or online?
List your favorite brands of cosmetics.
How old were you when you began using cosmetics?

Answer(s): B

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QUESTION: 57

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QUESTION: 60