Concept explainers
a)
Case summary:
Company WG manufactures 4 categories of instruments, such as batch custom, mass produced, one-of-a-kind, and mass customized. It is necessary to set different prices to different categories of instruments to sustain in the business. Person BA, who is the vice president of Company WG, is responsible for setting the price.
The recommended retail cost is $349. Person BA calculates Company WG’s variable and fixed costs to know the break-even point and profit. Profits and break-even points are calculated under different conditions to assess the effects of production facility.
Characters in case:
Company WG
Person BA
Introduction:
Demand refers to the customer’s willingness and ability to pay for a product or service. Keeping the other factors constant, a decrease in the prices of product or service will increase the demand and vice versa.
To determine: The factors that are likely to affect the demand for Company WG for a first-time guitar buyer.
b)
Case summary:
Company WG manufactures 4 categories of instruments, such as batch custom, mass produced, one-of-a-kind, and mass customized. It is necessary to set different prices to different categories of instruments to sustain in the business. Person BA, who is the vice president of Company WG, is responsible for setting the price.
The recommended retail cost is $349. Person BA calculates Company WG’s variable and fixed costs to know the break-even point and profit. Profits and break-even points are calculated under different conditions to assess the effects of production facility.
Characters in case:
Company WG
Person BA
Introduction:
Demand refers to the customer’s willingness and ability to pay for a product or service. Keeping the other factors constant, a decrease in the prices of product or service will increase the demand and vice versa.
To determine: The factors that are likely to affect the demand for a musician, who needs a signature model.
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Chapter 13 Solutions
MARKETING >CUSTOM< (PB)
- Write the best answer in the blank. Here is your word bank: Ego, monetary risk, psychographic, physical risk, demographic, social risk, geographic, functional risk, behavioral, Super Ego, psychological risk, Ikea Effect, Classical Conditioning, Linked Prosperity, Id, J.N.D. Home Depot targets the Professional segment (e.g. contractors, builders etc). They purchase in bulk and generally have specific delivery requirements because of the types of products they purchase. Home Depot uses what basis of segmentation to target their “Pros”: _______________________arrow_forwardThis print ad is targeting a consumer that most likely falls into this Maslow’s Hierarchy of Needs category: a) Self-Actualization b) Physiological Needs c) Love and Belonging d) Safety and Security e) None of the Abovearrow_forwardSelf-image congruence models suggest that we choose products when their attributes match some aspect of the self. Beyonce’s Beehive fan club uses this theory of the self-concept: a) Looking Glass Self b) Influential Self c) Ideal Self d) Extended Self e) None of the abovearrow_forward
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- Answer each question below. Use details, specifics, and examples to explain your answer. You should write five sentences at a minimum. Question: Discuss the principles learned in the NPR audio called I Buy Therefore I Am?arrow_forwardThis ad for Real Beauty Production is using what type of Affect: https://www.youtube.com/watch?v=qbD3MXdGKFo&t=27s a) Positive b) Visual c) Classical d) Photographic e) None of the Abovearrow_forwardAnswer each question below. Use details, specifics, and examples to explain your answer. You should write five sentences at a minimum. Question: What does it take to get consumers to try something new?arrow_forward
- Answer each question below. Use details, specifics, and examples to explain your answer. You should write five sentences at a minimum. Each question is worth 10 points. Question: Explain how marketers use scent marketing to persuade consumers.arrow_forwardQuestion: A woman shopping for a new perfume remembers her favorite celebrity wearing this brand and decides to buy it. This is called: a) Social Awareness b) Positive Reinforcement c) Social Proof d) Instrumental Conditioning e) None of the abovearrow_forwardQuestion: Semiotics uses the following to help consumers build meanings for brands: a) Associations b) Symbols c) Images d) Brand Name e) All of the Abovearrow_forward
Contemporary MarketingMarketingISBN:9780357033777Author:Louis E. Boone, David L. KurtzPublisher:Cengage Learning
MarketingMarketingISBN:9780357033791Author:Pride, William MPublisher:South Western Educational Publishing