Mid-Term (MKTG 231)

Mid-Term (MKTG 231) - Assessment 1. Walker Zanger, Inc. is...

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Assessment http://bsuonline.bowiestate.edu/Section/Assessment/Delivery/AssessmentAll.aspx?entryId=4B788CE514FD4D7F8708762CCD7A5EFC[10/19/2010 11:08:12 AM] 1. Walker Zanger, Inc. is about to introduce a new type of ceramic tile that is scratch-resistant and unbreakable. As with other products of this type, Walker Zanger can expect sales of this new type of flooring to follow a bell-shaped curve over the next 10 to 15 years as it follows the product life cycle. A) True B) False 2. Rapala VMC Corporation Finland-based Rapala VMC Corporation is the world's largest fishing lure manufacturer. It developed its first fishing lure--a cigar- shaped minnow--in 1962. The annual market for fishing lures in terms of retail sales is approximately $600 million. Rapala VMC garnered one-third of that amount in 2003. New lures must be introduced each year in order to stay competitive in this industry. Like other lure manufacturers, Rapala focuses on two questions in developing and making new lures: Does it work, and does it look good? Developing a new lure takes two or three years and involves extensive field testing by tournament professionals and fishing guides. At the annual fishing industry trade show in 2003, Rapala unveiled the "dream lure for the 21 st century." Refer to Rapala. Fishing lures are most likely in the _____ stage of their product life cycle. A) growth B) saturation C) decline D) maturity E) innovation 3. The Bridgespan Group is a not-for-profit strategic consulting firm dedicated to providing guidance for nonprofits. Which of the following would NOT be one of its target markets? A) adults interested in improving educational opportunities for children B) community members who are interested in starting a museum C) its own administrative board D) a group devoted to helping homeless people find jobs E) state government agencies 4. Choice Homes, Inc. Choice Homes, Inc., based in Texas, built its reputation by building high-quality new homes, often at prices less than "used" ones. Choice Homes used mass-purchasing power, innovative high-tech communications among employees to coordinate the building process, and other entrepreneurial strategies to hold costs down. Its homes are primarily targeted at first-time homeowners-to-be in an effort to get people out of apartments so they can experience the "American Dream" of home ownership for the same price as rent. Choice Homes later developed the "Choice Classic" brand name for higher-end homes targeted at wealthier dual-income couples. The Choice Classic name was designed to capitalize on the reputation of Choice Homes, especially for current Choice home owners who are ready to "move up" to a larger home. Recently, Choice Homes started a third line of homes called "Reflections," which are expensive, custom-designed homes located in exclusive, prestigious neighborhoods. Refer to Choice Homes, Inc. The three different brands of homes (Choice, Choice Classic, and Reflections) represent the firm's:
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This note was uploaded on 03/14/2011 for the course MGMT 231 taught by Professor Brown during the Spring '11 term at University of Phoenix.

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Mid-Term (MKTG 231) - Assessment 1. Walker Zanger, Inc. is...

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