Identify and describe the three main types of New Luxury products
What will be an ideal response?
The three main types of New Luxury products are:
1. Accessible superpremium products — They carry a significant premium over middle-market brands, yet consumers can readily trade up to them because they are relatively low-ticket items in affordable categories.
2. Old Luxury brand extensions — They extend historically high-priced brands down-market while retaining their cachet.
3. Masstige goods — They are priced between average middle-market brands and superpremium Old Luxury brands. They are "always based on emotions, and consumers have a much stronger emotional engagement with them than with other goods."
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When conducting selection interviews, Kuan-yin likes to ask questions like “Tell me about a time you missed a deadline. Why did you miss it and what did you do?” Kuan-yin is asking ______ questions.
A. structured B. hypothetical C. probing D. behavioral descriptive
On September 12, Ryan Company sold merchandise in the amount of $5,800 to Johnson Company, with credit terms of 2/10, n/30. The cost of the items sold is $4,000. Johnson uses the periodic inventory system and the net method of accounting for purchases. The journal entry that Johnson will make on September 12 is:
A.
| Accounts payable | 4,000 | |
| Merchandise inventory | 4,000 |
B.
| Merchandise inventory | 5,800 | |
| Accounts payable | 5,800 |
C.
| Purchases | 5,800 | |
| Accounts payable | 5,800 |
D.
| Merchandise inventory | 5,684 | |
| Accounts payable | 5,684 |
E.
| Purchases | 5,684 | |
| Accounts payable | 5,684 |
The balanced scorecard ______.
a. provides a framework of performance measurements b. guides planners on different sources of financing c. guides planners on product design d. is very useful for identifying new markets
Which characteristic of goal setting theory states that in general, employees who participate with their managers with setting goals will have higher levels of performance and be more motivated to achieve the objectives.
a. Specific goals b. Difficult goals c. Goal acceptance and commitment d. Feedback