Module 5_ Homework Assignment.pdf

Source rachel dodes from track suits to fast track

Info icon This preview shows pages 11–13. Sign up to view the full content.

Source: Rachel Dodes, "From Track Suits to Fast Track," Wall Street Journal, September 13, 2006. How does limiting the number of stores in which Juicy's products are sold contribute to its success? Select one: a. It enables Juicy to price its products at a premium and differentiate them from lower priced products. b. By sacrificing sales, the company was able to focus on producing high quality products. c. It helps establish Juicy's products as luxury items favored by the very wealthy. d. Maintaining the exclusivity of a product increases the demand for the product. Which of the following statements is true about advertising by a monopolistically competitive firm? Select one: a. Advertising will be more beneficial if a monopolistic competitor colludes with other firms to advertise the products of the industry as a whole rather than an individual firm's product. b. Monopolistically competitive firms tend to shun advertising because advertising draws attention to the variety of differentiated products available in the industry. c. Since the monopolistic competitor, like the perfect competitor, makes zero profit in the long run, it is a waste of resources to advertise its products. d. Advertising could make the monopolistic competitor's demand more inelastic, but advertising has no effect on a perfect competitor's demand.
Image of page 11

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

4/16/2018 Module 5: Homework Assignment 12/16 Question 17 Correct Marked out of 1.00 Question 18 Incorrect Marked out of 1.00 One of your classmates asserts that advertising, marketing research, and brand management are redundant expenditures because a firm can obtain the same information by simply looking at what customers are already buying. Which of the following is not a response you might offer her? Select one: a. Conducting market research is a good way for firms to keep abreast of changing consumer tastes and preferences. b. If a firm successfully manages its brand, customers become less price sensitive as they perceive fewer substitutes for the firm's brand. c. Marketing research could allow a firm to identify new market opportunities and at least, in the short run, a firm can make a profit supplying products to this market segment. d. Advertising and brand management allow a firm to create an entry barrier which will insulate the firm from competition and from undertaking further product innovations. A company's competitive strategy deals with Select one: a. its plans for under-pricing rivals and achieving product superiority. b. the specific actions management plans to take to gain a competitive advantage over rivals c. how it plans to unify its functional and operating strategies into a cohesive effort aimed at successfully taking customers away from rivals.
Image of page 12
Image of page 13
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern