Question 2 10 out of 10 points In class we heard that Lays has selected three

Question 2 10 out of 10 points in class we heard that

This preview shows page 359 - 364 out of 626 pages.

Question 2 10 out of 10 points In class, we heard that Lay's has selected three new flavors for their product, Cheesy Garlic Bread, Chicken & Waffles, and Sriracha. What approach did they take to selecting these new flavors? Answer Selected Answer: They chose the flavors from a "crowdsourcing" contest. Correct Answer:
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They chose the flavors from a "crowdsourcing" contest. Response Feedback: Lay’s has selected the three flavor finalists in its “Do Us a Flavor” crowdsourcing contest. [Consumer Involvement via social media] Question 3 10 out of 10 points Question 4 10 out of 10 points According to the lecture, Michelle Skinn's charitable foundation would be considered as: Answer Selected Answer: as a "nonbusiness" Correct Answer: as a "nonbusiness" Response Feedback: “Nonbusiness” (charities; not-for-profit) – These firms do everything a “for-profit” does, and so requires professional management! Question 5 10 out of 10 points In the VALS framework, consumers who favor established, prestige products and services and are interested in time-saving devices given their hectic schedules are called Answer
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Selected Answer: Achieve rs. Correct Answer: Achieve rs. Response Feedback: Achievers have a busy, goal-directed lifestyle and a deep commitment to career and family. Image is important to them. They favor established, prestige products and services and are interested in time-saving devices given their hectic schedules. Question 6 10 out of 10 points __________ is a VALS group that would be the most likely to read business and news magazines such as Fortune and Time . Answer Selected Answer: Achieve rs Correct Answer: Achieve rs Response Feedback: Achievers would be the most likely group to read business and news magazines such as Fortune and Time . Question 7 0 out of 10 points
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What is the annual market size for the products bought by or for preteens and teenagers? Answer Selected Answer: $1 trillion Correct Answer: $200 billion Response Feedback: The market for products bought by or for preteens and teenagers surpasses $200 billion annually. This is why marketers spend more than $70 billion annually in electronic and print media that reach these consumers. Question 8 10 out of 10 points Marketers use three approaches to try to change consumer attitudes toward products and brands: (1) changing beliefs about the extent to which a brand has certain attributes; (2) __________; and (3) adding new attributes to the product. Answer Selected Answer: changing the perceived importance of attributes Correct Answer: changing the perceived importance of attributes Response Feedback : Marketers use three approaches to try to change consumer attitudes toward products and brands: (1) changing beliefs about the extent to which a brand has certain attributes; (2) changing the perceived importance of attributes; and (3) adding new attributes to the
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product.
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  • Fall '14
  • mr.johnson
  • Marketing, Time Warner

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