This chapter describes seven ways to enhance a customer's perception of value. Describe five of these with a brief example of each
What will be an ideal response?
Seven ways to enhance perception of value: (answer requires five)
1. Packaging (Ex: gift wrapping, tangibles given with intangible products like insurance, education; attractive bundling of products)
2. Guarantees or warrantees (Ex: unconditional refund offers like Nordstrom, longer time on warrantee, being generous and open)
3. Goodness of product fit (Ex: personalized products, "industrial intimacy," use of CRM data to match customer to product, etc.)
4. Memorable experiences (Ex: Chuck E Cheese, carnival atmosphere; live entertainment–especially when not expected; coffee-shop chats at bookstores, etc.)
5. Uniqueness and shared values (Ex: supporting charity or cause; Ben and Jerry's environmental activism; support for political commentators espousing shared values, etc.)
6. Credibility (Ex: Trust created with pricing transparency, prompt follow-through on commitments, honesty and openness)
7. Add-ons (Ex: items given to customers or sold at low cost that have high perceived value. Car wash with fill up, free popcorn, extra detail at car wash, etc.)
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Affection is an important part of the interview process because ______.
a. we are more likely to answer thoughtfully when the interviewer is friendly b. we are more likely to answer honestly when the interviewer shows affection c. we are less likely to be nervous if the interviewer uses humor d. we are more likely to perform well when the interviewer smiles a lot
One of the symptoms of groupthink is closed-mindedness. Explain this symptom and provide an example of closed-mindedness.
What will be an ideal response?
Which of the following does not qualify as a "category killer?"
A) Victoria's Secret B) IKEA C) Home Depot D) Circuit City E) Toys "R" Us
Which of the following are management responsibilities under the Sarbanes-Oxley Act of 2002?
a. Certify the accuracy of financial statements. b. Establish a corporate code of conduct. c. Designing internal controls. d. All of the above.