Your text notes that technology has helped to shift the balance of power from companies to customers. Which of the following exemplifies this statement?
A. The Internet allows companies to advertise on more than one platform.
B. Automated production systems lead to more efficient and cost-effective manufacturing processes.
C. The Internet has made it possible for customers to comparison shop for products.
D. Companies can use social networking sites to help them better target their audiences.
E. Data gathered at the point-of-sale can be used by companies to target customers for new products.
Answer: C
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Ladell is excited because a prospect has just signed a purchasing agreement for the biggest sale Ladell has made in his two-year sales career. Ladell is obviously happy as he sits across the desk from his newest customer. What should Ladell do now?
A. Discuss the buyer's expectations for the product. B. Discuss his company's payment expectations. C. Stop talking about the product ordered and leave his customer's office. D. Invite the prospect out for a meal. E. Discuss the buyer's expectations concerning a delivery schedule of the product.
In terms of a radical innovation, firms sometimes develop a product for which consumers weren't even aware they had a need. Which of the following is another characteristic of radical innovation?
a. low cost production b. consumer involvement c. customers clearly defined d. "supply-side" market e. wide customer base; speedy adoption
When marketers say that services are ________, they are referring to the fact that services cannot be touched, tasted, or seen, like a pure product can.
A. heterogeneous B. perishable C. intangible D. replenishable E. inseparable
Which of the following conditions can be detected from residual analysis?
A) Nonlinearity Nonconstant variance B) Multicollinearity C) A and B D) A, B, and C