Marketing Final Exam

Cbe model customer obj 07 6 top aacsb reflective msc

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Unformatted text preview: BJ: 07-6 TOP: AACSB Reflective MSC: BLOOMS Knowledge 37. Inland Eastex manufactures a heavy paper stock that is used for printing covers for many different types and sizes of consumer magazines. Consumer magazine sales determine how much paper Inland Eastex sells. This is an example of _____ demand. a. joint b. c. d. e. inelastic elastic congruent derived ANS: E Derived demand for a business product comes from the original consumer demand. PTS: 1 REF: 110 Thinking KEY: CB&E Model Customer OBJ: 07-6 TOP: AACSB Reflective MSC: BLOOMS Application 38. When the demand for packaged beer fell by 8 percent in one year, the demand for aluminum beer cans and glass beer bottles also fell because the demand for beer containers is an example of a(n) _____ demand. a. joint b. inelastic c. elastic d. fluctuating e. derived ANS: E The demand for beer containers is driven by the consumer demand for beer; therefore, the containers have a derived demand. PTS: 1 REF: 110 Thinking KEY: CB&E Model Customer OBJ: 07-6 TOP: AACSB Reflective MSC: BLOOMS Application 39. Bàbolina Tetra is a Hungarian company that has genetically created a chicken that is guaranteed to produce uniform brown eggs with strong shells. It breeds and sells young chicks to farmers all over Europe who want to sell eggs in local markets. When consumers began to worry about cholesterol content and stopped eating as many eggs, the demand for the Tetra hen also declined. This would be an example of _____ demand. a. derived b. elastic c. multiplying d. bundled e. inelastic ANS: A Demand for hens is derived from consumers’ demands for eggs, which has declined. PTS: 1 REF: 110 Thinking KEY: CB&E Model Customer OBJ: 07-6 TOP: AACSB Reflective MSC: BLOOMS Application 40. When two or more items are used in combination to produce a final product, they are said to have _____ demand. a. derived b. c. d. e. inelastic joint fluctuating elastic ANS: C This is the definition of joint demand. PTS: 1 REF: 111 Thinking KEY: CB&E Model Customer OBJ: 07-6 TOP: AACSB Reflective MSC: BLOOMS Knowledge 41. Apple iTunes has sold over five billion downloads. Without iTunes, the demand for the Apple iPod line of products would be small. Without the musicians, there would be no iTunes. In this situation, a condition of _____ demand exists. a. bundled b. incremental c. functional d. developmental e. joint ANS: E Joint demand occurs when two or more items are used together in a final product. PTS: 1 REF: 110 Thinking KEY: CB&E Model Customer OBJ: 07-6 TOP: AACSB Reflective MSC: BLOOMS Application 42. A decline in the availability of bicycle handle bars will decrease Huffy Bicycle Company’s production of bicycles. Decreased production in turn reduces Huffy’s demand for bicycle seats. This is because the products in this situation have _____ demand. a. inelastic b. joint c. elastic d. congruent e. derived ANS: B When two or more items are used in combination in the final product, they have a joint demand. PTS: 1 REF: 1...
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