Chapter 11 Multiple Choice 1. Ikea‚ the Swedish furniture chain‚ insists that all its stores carry the basic product line with little room for adaptation to local tastes. If research of the U.S. market showed that Americans preferred larger beds than their Swedish counterparts‚ which of the following strategies would be advisable to Ikea? a. standardization. b. new product development. c. adaptation. d. withdraw from market. e. lower
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Zara is classified as the shopping goods in the category of consumer products. Zara is an international clothing brand which is a part of the Inditex Group. Zara’s products mainly focus at the clothing and their products are bought for the final use. So‚ it is classified in the category of the consumer products. Zara is classified as the shopping goods because of their brand. Their brand had made the price of their product higher than other competitors seems like Padini. The price of their products
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Umbrella Brands The 1980s witnessed a revolution in the understanding of the working of the brands. Marketers depict brands as a reflection of customers’ own personalities‚ so that they can relate to their products well. In fact the distinguishing aspect of the modern marketing has been its focus upon the creation of differentiated brands and using them as weapons for launching multi-level attacks on competition. Market research has been used to help identify and develop bases of brand differentiation
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Based on your own experience of traditional bookselling and your exploration of online bookselling‚ compare willingness-to-pay for books supplied by these two business models. If I had to do segmentation for Amazon.com’s online business I would define one of the most valuable segments as those customers who: - Don’t have time (e.g. to go to a retail store just to find out that the book they wanted is not in stock!) - Know in 95% what they want‚ but are open for suggestions (e.g. other books that
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relationships and expectations that exist within the organization. For example‚ in policing‚ the strong belief among the Philippine National Police (PNP) members and personnel in their respective units and departments‚ that they stand as the front line of defense against community lawlessness reflecting what is often a rather narrow definition of order conditions of the organizational environment within which the police officer operate. These beliefs can easily become the prevalent values of the
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Building brand identity in competitive markets: a conceptual model Bhimrao M. Ghodeswar School of Management‚ Asian Institute of Technology‚ Klong Luang‚ Pathumthani‚ Thailand Abstract Purpose – The purpose of this conceptual paper is to identify important elements of brand building based on a literature review and case studies of successful brands in India. Design/methodology/approach – This paper is based on a review of the literature and takes a case study approach. The paper suggests the framework
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A free market economy is an idealized form of a market economy in which buyers and sellers are permitted to carry out transactions based solely on mutual agreement without interventionism in the form of taxes‚ subsidies‚ regulation of government provision of goods and services. In this type of economy‚ all decisions are made by individuals and firms. The economy is in equilibrium when income equals output equals expenditure or simply‚ Injections equal Leakages. On a chart this is represented when
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What is Brand? American Marketing Association defines Brand as "Name‚ term‚ symbol‚ sign‚ or design or a combination of them‚ intended to identify a seller or a group of sellers and to differentiate them from those of competitors". Thus a brand identifies the seller or maker. A brand is a complex symbol that can convey up to six levels of meaning viz. Attributes‚ Benefits‚ Values‚ Culture‚ personality and User. Scott Davis suggests visualizing a Brand Pyramid in constructing the image of brand
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in Groups‚ Institutions‚ and Organizations: A Model and Theoretical Extensions. Few would argue that most companies must continually innovate and evolve to stay in business. To maintain this cycle of innovation and change‚ there must be a level of creativity‚ that is fostered within the organization. In their article Positive and Negative Creativity in Groups‚ Institutions‚ and Organizations: A Model and Theoretical Extensions (hereafter referred to as “the article”)‚ James‚ Clark‚ and Cropanzano
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and Coke® all marketed their brands too well over the years. To many‚ every tissue is a Kleenex®‚ and every small plastic or fabric bandage is a Band-Aid®. On the other hand‚ people may refer to all (or perhaps only the dark) soft drinks as Cokes®‚ but that company enjoys a high level of customer loyalty that other common brands do not. Building the Brand The opposite side of well-known brands is that consumers readily differentiate product classes between brands. Ketchup is not referred to as
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