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marketing1 - Question 1 of 10(worth 1 point As discussed in...

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Question 1 of 10 (worth 1 point) As discussed in class, Tide was able to maintain its success over a 30- year time span by: A. creating award-winning advertising campaigns. B. investing in a wide variety of new products such as Swiffer and Dryel. Correct C. modifying the product formulation several times to stay compatible with trends in the laundry market. D. sponsoring the first soap operas on radio and television. E. E) continuously measuring customer satisfaction and appointing a Chief Customer Officer (CCO). Answer Key: C Feedback Lecture page 9 In order to remain in the market for a long period time, successful companies must adapt. Tide has made approximately 55 modifications to its formula since it was introduced some 30 yrs ago. Question 2 of 10 (worth 1 point) Sound Vision Inc./Armchair Electronics just released a new product called TV ShareCam, the first digital camera that displays pictures on the TV rather than a computer. The research and development team at Sony purchases a TV ShareCam and takes it apart, so they can get a better idea at how Sound Vision Inc. made the product. This is an example of: Incorrect Answer Key: B Feedback Lecture page 15 Reverse engineering involves disassembling a product in order to understand how it was made. Companies engage in the practice of
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reverse engineering to better understand a technological innovation with the hopes of offering a similar product (within the constraints of the copyright law). Reverse engineering is completely legal and is not an example of corporate espionage, which consists of illegal activities such as stealing competitors’ records or planting a spy inside other companies. Question 3 of 10 (worth 1 point) As a result of Hurricane Charley, the Green Mountain Lumber Co. decides to charge all Home Depots in Florida $25 per sheet of plywood while all Home Depots outside of Florida pay only $10 per sheet of plywood. The Green Mountain Lumber Co. can be charged with _____, which is illegal under the _____. Correct Answer Key: A Feedback Lecture page 14 A) Price discrimination is the act of charging different consumers different prices for the same product. The Robinson-Patman Act (1936) makes it unlawful to practice price discrimination, where the effect may substantially lessen competition or help to create a monopoly. B) A monopoly is a competitive setting in which only one firm sells the product. This question has nothing to do with forming a monopoly. The Clayton Act (1914) is a law that forbids certain actions that are likely to lessen competition, although no actual harm has yet occurred.
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