QUESTION: 149

Within the buying center, deciders are people who

handle the paperwork of the actual purchase.
control the flow of information in the buying center.
ultimately determine any part of or the entire buying decision.
influence other members of the buying center in making the final decision.
actually use and evaluate the product or service.

Answer(s): C

A(n) _____________ is a broad description of a firm's objectives and the scope of activities it plans to undertake, and attempts to answer two main questions: What type of business are we? What do we need to do to accomplish our goals and objectives?

marketing toolbox
operational plan
mission statement
marketing plan
code of conduct

Answer(s): C

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QUESTION: 151

EZ, a manufacturer of electronic appliances, manufactures sandwich toasters, waffle makers, and sandwich-waffle makers. Recently, EZ reduced the price of sandwich-waffle makers by 20%. This increased the sales of sandwich-waffle makers by 20% and reduced the sale of sandwich toasters by 30% and waffle makers by 25%. Which of the following is true of this scenario?

The price elasticity of sandwich-waffle makers is -2.
The cross-price elasticity of sandwich-waffle makers and sandwich toasters is -1.
The cross-price elasticity of sandwich-waffle makers and waffle makers is -2.
Sandwich-waffle makers and sandwich toasters are likely to be substitute products.
Sandwich-waffle makers and waffle makers are complementary products.

Answer(s): D

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QUESTION: 152

Hermit, a fashion apparels retailer, recently slashed prices on its premium fashion label, Lau, by 40%. This resulted in a sharp rise in sales of Lau by 30%. This also directly impacted the sales of its lower-priced brand, Infinity, which saw sales reduced by 15%. What is the cross-price elasticity of demand between Lau and Infinity?

0.5
0.37
1.33
2
2.66

Answer(s): B

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QUESTION: 149

QUESTION: 150

QUESTION: 151

QUESTION: 152