What is category management and when is it used?
What will be an ideal response?
Category management is used to manage the assortment of merchandise that is available from the many manufacturers that might be interested in having a product available in the store. This approach assigns a manager with the responsibility for selecting all products that consumers in a market segment might view as substitutes for each other, with the objective of maximizing sales and profits in the category.
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Mini-Case Question. The percentage cost of goods sold by Sparks Inc. is 40%. The percentage cost of goods sold by its three largest competitors is 30%, 30%, and 20%. What is the cost advantage index of Sparks Inc.?
A) 80 B) 120 C) 43 D) 150 E) 62
Monchen Labs is an company that prides itself for innovating cutting-edge technologies in the
radio-diagnostics equipment industry. The firm, as a policy, prices its newly-launched products nearly 50 -60% higher than what it would sell the same products for nearly a year after their launch. The firm justifies the high pricing as a means to recoup the rather prohibitive R&D costs involved in the development process. Which of the following pricing objectives does Monchen Labs follow in this case? A) survival pricing objective B) market skimming pricing objective C) market share maximization pricing objective D) product-quality leadership pricing objective
While minimum expectations are viewed as "dissatisfiers," desired goals are "satisfiers."
Indicate whether the statement is true or false
When referencing NAICS codes, marketers should know that
A. the international version of the NAICS system is the most accurate and reliable. B. NAICS codes provide detailed information about the apparel industry only. C. two-digit industries are subindustries of the three-digit industries. D. two-digit codes offer the broadest categorization of industries. E. categories become less detailed as you move to codes with more digits.