University of Oregon - BA 101 quiz 1 Week 2 quiz 1. All Answers

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Sale-----accessibly Awareness-------promotion 1. In the "fishing" story, which best describes the concept of "profit?" Achieving wealth through meeting needs 2. Production may be described as? ... The process of making products, i.e. building quality products at lowest possible cost. 3. Price, promotion, placement and product (the four Ps) are aspects of what?- Marketing 4. ..What does the research and development department do? Creates new products and changes specifications on existing products based on customer needs 5....What is the "fifth" aspect of the marketing mix? service 6.What is an example of a market?------------------NASDAQ - an electronic market eBay - an internet market A grocery store - a retail market An auto sales lot - a physical market All the above 7...n the "fishing" story, what influenced the value of Dave's fish in trade? supply and demand 8.In the "fishing" story, what is an example of a competitive advantage? The owner of the net can capture more fish in less time than either pole 9.One economic view of jobs categorizes them into four areas that include: agriculture, manufacturing, service, and intellectual and information services. 10.Sales forecasting is often challenging due to the: many unpredictable variables that influence your target market's decision to buy product 11.Marketing strategy is most successful when it has a customer orientation 12.The promotion budget follows in a pattern that if $1 million buys 30% awareness, then $2 million buys less than 60% awareness. This is called diminishing returns 13.The primary purpose of a business is to: create wealth for its owners 14.What process allows managers to manage in an uncertain and risky environment? Managing -- establish a goal, create a plan, organize the resources, operate the plan, and measure the results 15.What statement illustrates the concept of "risk"? invest a lot of resources (money) in a developing new product that -- if it fails -- will cause the company to lose money 16.The strength of the promotional investment is measured by? awareness The private enterprise system requires the existence of four conditions including: : the ownership of private property, freedom of choice, the right to keep profits, and an environment where fair competition can occur. In the "fishing" story, which best describes the concept of "profit?" : Achieving wealth through meeting needs Production may be described as: : The process of making products, i.e. building quality products at lowest possible cost. Not knowing exactly what will happen based on the decisions made is known as: : uncertainty A business engages in which activities? : all the above What is an example of a market? : All the above Distribution is best described as: : How customers are aware of the product Market research is designed to: : Help determine what is important to customers and how they want product to perform The marketing mix includes: : all the above What is market segmentation? : Identifying and grouping potential customers by geographic, demographic, and psychographic attributes according to common characteristics and needs A change in Mean Time Between Failure (MTBF) has what effect on the age of the product? : All the above To increase a number by 10% you can either multiply the base number by 0.1 and add that number to the base, or you can multiply the number by 1.1 and get the same . For example: 6,098 + (6,098 * .1) = 6,707.8 and 6,098 * 1.1 = 6,707.8 : True You have evaluated product Acrid (a made up product) against the Buying Criteria of the High Tech market and gotten the following "attractiveness" scores: MTBF 100, Price 19, Age 44, and Position 38. What is the Customer Survey Score for this month? : 43 • The strength of the promotional investment is measured by: : awareness In Foundation, which market segment makes up the greatest percentage of sales in dollars? : Low Tech What does the "ideal spot" of a perceptual map define? : The position in the fine cut circle where demand for the product is strongest. The promotion budget follows in a pattern that if $1 million buys 30% awareness, then $2 million buys less than 60% awareness. This is called: : opportunity costs Company Erie is going to change Eat's MTBF to 20,000 hours and the change has a revision date of February 12 (2/10 of a year). What will Eat's perceived age be on February 13? (Refer to the Round 2 Foundation FastTrack Report available both on Blackboard and in Appendix 1 of “An Introduction to Business.”) : 4.3 years old To best serve the Low Tech market, why should Baldwin reposition Baker this year? (Refer to the Round 2 Foundation FastTrack Report available both on Blackboard and in Appendix 1 of “An Introduction to Business.”) : To manage the age- it will be more than 4 years old at the end of the year Company Chester is going to reposition Cake and the change has a revision date of August 12 of the coming year (August 12 is 7/10 of a year). What will Cakes perceived age be on December 31? (Refer to the Round 2 Foundation FastTrack Report available both on Blackboard and in Appendix 1 of “An Introduction to Business.”) : 2.3 years old • Question 1 In the "fishing" story, what influenced the value of Dave's fish in trade? : supply and demand • Question 2 In the "fishing" story, what is an example of a competitive advantage? : The owner of the net can capture more fish in less time than either pole • Question 3 One economic view of jobs categorizes them into four areas that include: : agriculture, manufacturing, service, and intellectual and information services. • Question 4 The primary purpose of a business is to: : maximize market share • Question 5 What is an example of a market? : All the above • Question 6 What process allows managers to manage in an uncertain and risky environment? : Past performance -- expecting things to be the same in the future as they have been in the past • Question 7 Primary market research includes: : all the above • Question 8 Sales forecasting is often challenging due to the: : many unpredictable variables that influence your target market's decision to buy product • Question 9 Marketing strategy is most successful when it has: : a customer orientation • Question 10 Secondary market research involves: : sending out a survey to prospective customers • Question 11 If (in a couple of years) company Digby wanted to revise product Dabble to serve the Low Tech market, what changes would they make to the MTBF? (Refer to the Round 2 Foundation FastTrack Report- available both on Blackboard and in Appendix 1 of “An Introduction to Business.”) : Change MTBF to 16,000; a value in the middle of the range so it is both attractive and it would have lower cost. • Question 12 A change in Mean Time Between Failure (MTBF) has what effect on the age of the product? : All the above • Question 13 Which product will be most attractive to Low Tech customers as of January 1 next year? (Refer to the Round 2 Foundation FastTrack Report- available both on Blackboard and in Appendix 1 of “An Introduction to Business.”) : Able • Question 14 The four components of the fine cut are: : all the above • Question 15 The promotion budget follows in a pattern that if $1 million buys 30% awareness, then $2 million buys less than 60% awareness. This is called: : diminishing returns • Question 16 Which of these activities would increase the material costs? : All the above • Question 17 What does the "ideal spot" of a perceptual map define? : The position in the perceptual map where the product will sell at any price • Question 18 As of the end of December, which of these products has the best age for the High Tech market? (Refer to the Round 2 Foundation FastTrack Report available both on Blackboard and in Appendix 1 of “An Introduction to Business.”) : Dabble • Question 19 According to the Team Member guide, $1,500 invested in the promotion budget buys an additional 35% awareness. If Chester invested $1,500 in promoting Cake, what would Cake's awareness be next year? (Refer to the Round 2 Foundation FastTrack Report available both on Blackboard and in Appendix 1 of “An Introduction to Business.”) : 98.6% • Question 20 What percentage of the Low Tech market knew about product Cake when making their purchase decision? (Refer to the Round 2 Foundation FastTrack Report available both on Blackboard and in Appendix 1 of “An Introduction to Business.”) : 29% • Question 1 In the "fishing" story, when Dave went fishing he was investing energy to create something of value for Dave or Dave's family. This is an example of: : wealth • Question 2 In the "fishing" story, which best describes the concept of "profit?" : Achieving wealth through meeting needs • Question 3 How would you best define demand? : The desires of specific customers • Question 4 What are the factors of production? : All the above • Question 5 What is an example of a market? : All the above • Question 6 Production may be described as: : The process of making products, i.e. building quality products at lowest possible cost. • Question 7 Secondary market research involves: : all the above • Question 8 Price, promotion, placement and product (the four Ps) are aspects of what? : Marketing • Question 9 What does the research and development department do? : Creates new products and changes specifications on existing products based on customer needs • Question 10 What is the "fifth" aspect of the marketing mix? : service • Question 11 How many units could be sold in the Low Tech market next year? (Refer to the Round 2 Foundation FastTrack Report- available both on Blackboard and in Appendix 1 of “An Introduction to Business.”) : 7,318 • Question 12 If (in a couple of years) company Digby wanted to revise product Dabble to serve the Low Tech market, what changes would they make to the MTBF? (Refer to the Round 2 Foundation FastTrack Report- available both on Blackboard and in Appendix 1 of “An Introduction to Business.”) : Reduce MTBF to 14,000 in order to lower costs and raise profits. • Question 13 Which product will be most attractive to Low Tech customers as of January 1 next year? (Refer to the Round 2 Foundation FastTrack Report- available both on Blackboard and in Appendix 1 of “An Introduction to Business.”) : Eat • Question 14 The strength of the distribution investment is measured by: : net revenues • Question 15 In Foundation, which market segment makes up the greatest percentage of sales in dollars? : High Tech • Question 16 In Foundation, awareness of a product is created specifically through the: : marketing budget • Question 17 In Foundation, what product attribute is defined by the interaction between the date a product is introduced and the date of later product revisions? : performance • Question 18 Company Chester is going to reposition Cake and the change has a revision date of August 12 of the coming year (August 12 is 7/10 of a year). What will Cakes perceived age be on August 13? (Refer to the Round 2 Foundation FastTrack Report available both on Blackboard and in Appendix 1 of “An Introduction to Business.”) : 4.3 years old • Question 19 To best serve the Low Tech market, why should Baldwin reposition Baker this year? (Refer to the Round 2 Foundation FastTrack Report available both on Blackboard and in Appendix 1 of “An Introduction to Business.”) : To reduce the material cost • Question 20 If company Ferris wanted product Fast to be positioned on the "ideal" spot for the high tech market for next year, what changes would they make? (Refer to the Round 2 Foundation FastTrack Report available both on Blackboard and in Appendix 1 of “An Introduction to Business.”) : Pfmn- 9.5; Size- 10.5 • Question 1 In the "fishing" story, a transaction is: : an exchange of information • Question 2 In the "fishing" story, what is an example of a competitive advantage? : The owner of the net can capture more fish in less time than either pole • Question 3 The primary purpose of a business is to: : create wealth for its owners • Question 4 What process allows managers to manage in an uncertain and risky environment? : Managing -- establish a goal, create a plan, organize the resources, operate the plan, and measure the results • Question 5 What statement illustrates the concept of "risk"? : Invest a lot of resources (money) in a developing new product that -- if it fails -- will cause the company to lose money • Question 6 One attribute of competing in a private enterprise is that competitors are motivated to offer customers: : the greatest number of options • Question 7 Price, promotion, placement and product (the four Ps) are aspects of what? : Marketing • Question 8 What does target marketing involve? : Focusing on anybody that may purchase the product • Question 9 Sales forecasting is often challenging due to the: : many unpredictable variables that influence your target market's decision to buy product • Question 10 What is the "fifth" aspect of the marketing mix? : service • Question 11 Which product will be most attractive to High Tech customers as of January 1 next year? (Refer to the Round 2 Foundation FastTrack Report- available both on Blackboard and in Appendix 1 of “An Introduction to Business.”) : Baker • Question 12 You have evaluated product Acorn (a made up product) against the Buying Criteria of the Low Tech market and gotten the following "attractiveness" scores: MTBF 100, Price 23, Age 87, and Position 92. What is the Customer Survey Score for this month? : 19 • Question 13 If (in a couple of years) company Digby wanted to revise product Dabble to serve the Low Tech market, what changes would they make to the MTBF? (Refer to the Round 2 Foundation FastTrack Report- available both on Blackboard and in Appendix 1 of “An Introduction to Business.”) : Raise it to 23,000; that is the top of the range and everyone wants the most reliable product they can get. • Question 14 In Foundation, what product attribute is defined by the interaction between the date a product is introduced and the date of later product revisions? : price • Question 15 The strength of the promotional investment is measured by: : awareness • Question 16 From year to year, market segments as shown on the perceptual map are: : Drifting up and to the left as the markets demand a decrease in size and an increase performance levels each year • Question 17 Which of these activities would increase the material costs? : Decreasing size • Question 18 To best serve the High Tech market, why should Ferris reposition Fast this year? (Refer to the Round 2 Foundation FastTrack Report available both on Blackboard and in Appendix 1 of “An Introduction to Business.”) : To keep it on or near the ideal spot • Question 19 Company Erie is going to change Eat's MTBF to 20,000 hours and the change has a revision date of February 12 (2/10 of a year). What will Eat's perceived age be on February 13? (Refer to the Round 2 Foundation FastTrack Report available both on Blackboard and in Appendix 1 of “An Introduction to Business.”) : 1.75 years old • Question 20 As of the end of December, which of these products has the best age for the High Tech market? (Refer to the Round 2 Foundation FastTrack Report available both on Blackboard and in Appendix 1 of “An Introduction to Business.”) : Fast • Question 1 The private enterprise system requires the existence of four conditions including: : the ownership of private property, freedom of choice, the requirement to share profits, and an environment where fair competition can occur. • Question 2 In the "fishing" story, a transaction is: : an agreed upon exchange of goods or services • Question 3 How would you describe the concept of scarcity? : Our wants are greater than the resources available to satisfy them • Question 4 Which business activity requires funding the business and using its resources effectively? : all the above • Question 5 What are some examples of economic costs? : All the above • Question 6 A business engages in which activities? : all the above • Question 7 Market segmentation identifies customer group on the basis of their needs regarding: : all the above • Question 8 What does the research and development department do? : Creates new products and changes specifications on existing products based on customer needs • Question 9 What is market segmentation? : Grouping products into distinct categories based on their historical sales levels • Question 10 Sales forecasting is often challenging due to the: : many unpredictable variables that influence your target market's decision to buy product • Question 11 What is a 10% increase from a base of 1,000? : 1,100 • Question 12 You have evaluated product Acrid (a made up product) against the Buying Criteria of the High Tech market and gotten the following "attractiveness" scores: MTBF 100, Price 19, Age 44, and Position 38. What is the Customer Survey Score for this month? : [None Given] • Question 13 How many units could be sold in the High Tech market next year? (Refer to the Round 2 Foundation FastTrack Report- available both on Blackboard and in Appendix 1 of “An Introduction to Business.”) : 3,732 • Question 14 In Foundation, what product attribute is defined by the interaction between the date a product is introduced and the date of later product revisions? : MTBF • Question 15 What will change a product's position on the perceptual map? : A change in the product's size or performance • Question 16 Reliability perceptions are expressed as: : mean time between failure - MTBF • Question 17 The strength of the promotional investment is measured by: : awareness • Question 18 Company Chester is going to reposition Cake and the change has a revision date of August 12 of the coming year (August 12 is 7/10 of a year). What will Cakes perceived age be on August 13? (Refer to the Round 2 Foundation FastTrack Report available both on Blackboard and in Appendix 1 of “An Introduction to Business.”) : 2.3 years old • Question 19 To best serve the Low Tech market, why should Baldwin reposition Baker this year? (Refer to the Round 2 Foundation FastTrack Report available both on Blackboard and in Appendix 1 of “An Introduction to Business.”) : They should NOT reposition the product this year. • Question 20 If company Ferris wanted product Fast to be positioned on the "ideal" spot for the high tech market for next year, what changes would they make? (Refer to the Round 2 Foundation FastTrack Report available both on Blackboard and in Appendix 1 of “An Introduction to Business.”) : Pfmn-10.2; Size- 9.8 • Question 1 In the "fishing" story, what influenced the value of Dave's fish in trade? : supply and demand • Question 2 In the "fishing" story, competition results in: : Newer products • Question 3 How would you best define demand? : The quantity of goods and services consumers are willing to buy at different prices • Question 4 One economic view of jobs categorizes them into four areas that include: : agriculture, manufacturing, service, and intellectual and information services. • Question 5 In a capitalist, or private enterprise system, individual citizens own and operate the majority of businesses and the ______ determines the distribution of resources. : market • Question 6 Organizing may be described as: : Arranging the organizations resources and activities in a way so it's possible to accomplish the plan. • Question 7 Primary market research includes: : conducting direct research with existing and potential customers • Question 8 Secondary market research involves: : conducting direct research with existing and potential customers • Question 9 Market segmentation identifies customer group on the basis of their needs regarding: : all the above • Question 10 Distribution is best described as: : Getting product to a place where customers can purcahse it • Question 11 Which product will be most attractive to Low Tech customers as of January 1 next year? (Refer to the Round 2 Foundation FastTrack Report- available both on Blackboard and in Appendix 1 of “An Introduction to Business.”) : Able • Question 12 You have evaluated product Acrid (a made up product) against the Buying Criteria of the High Tech market and gotten the following "attractiveness" scores: MTBF 100, Price 19, Age 44, and Position 38. What is the Customer Survey Score for this month? : 43 • Question 13 What is the "ideal" position for a High Tech product next year? (Refer to the Round 2 Foundation FastTrack Report- available both on Blackboard and in Appendix 1 of “An Introduction to Business.”) : Pfmn- 8.8; Size- 11.2 • Question 14 In Foundation, what product attribute is defined by the interaction between the date a product is introduced and the date of later product revisions? : MTBF • Question 15 The perceptual map evaluates and compares: : the awareness of competing products in the industry in relation to segment preferences • Question 16 What will change a product's position on the perceptual map? : A change in the product's size or performance • Question 17 From year to year, market segments as shown on the perceptual map are: : Drifting up and to the right as the markets demand a decrease in size an increase in performance levels each year. • Question 18 Company Chester is going to reposition Cake and the change has a revision date of August 12 of the coming year (August 12 is 7/10 of a year). What will Cakes perceived age be on December 31? (Refer to the Round 2 Foundation FastTrack Report available both on Blackboard and in Appendix 1 of “An Introduction to Business.”) : 2.3 years old • Question 19 What percentage of the Low Tech market knew about product Cake when making their purchase decision? (Refer to the Round 2 Foundation FastTrack Report available both on Blackboard and in Appendix 1 of “An Introduction to Business.”) : 56% • Question 20 Company Erie is going to change Eat's MTBF to 20,000 hours and the change has a revision date of February 12 (2/10 of a year). What will Eat's perceived age be on February 13? (Refer to the Round 2 Foundation FastTrack Report available both on Blackboard and in Appendix 1 of “An Introduction to Business.”) : 3.3 years old • Question 1 In the "fishing" story, what prevents Dave from killing evil Ralph or cutting his nets? : A city ordinance • Question 2 In the "fishing" story, a transaction is: : an agreed upon exchange of goods or services • Question 3 What is an advantage of economic specialization? : It provides an opportunity to experience greater efficiency and increased productivity • Question 4 What is an example of a market? : All the above • Question 5 What is a market? : Any mechanism that facilitates exchange of goods and services between buyers and sellers • Question 6 How would you describe the concept of scarcity? : Our wants are greater than the resources available to satisfy them • Question 7 The marketing mix includes: : all the above • Question 8 Market research is designed to: : Help determine what is important to customers and how they want product to perform • Question 9 Market segmentation identifies customer group on the basis of their needs regarding: : all the above • Question 10 What is the "fifth" aspect of the marketing mix? : service • Question 11 You have evaluated product Acorn (a made up product) against the Buying Criteria of the Low Tech market and gotten the following "attractiveness" scores: MTBF 100, Price 23, Age 87, and Position 92. What is the Customer Survey Score for this month? : 74.3 • Question 12 How many units could be sold in the Low Tech market next year? (Refer to the Round 2 Foundation FastTrack Report- available both on Blackboard and in Appendix 1 of “An Introduction to Business.”) : 6,708 • Question 13 To increase a number by 10% you can either multiply the base number by 0.1 and add that number to the base, or you can multiply the number by 1.1 and get the same . For example: 6,098 + (6,098 * .1) = 6,707.8 and 6,098 * 1.1 = 6,707.8 : True • Question 14 In Foundation, what product attribute is defined by the interaction between the date a product is introduced and the date of later product revisions? : age • Question 15 Which of these activities would increase the material costs? : All the above • Question 16 What will change a product's position on the perceptual map? : A change in the product's size or performance • Question 17 The strength of the distribution investment is measured by: : awareness • Question 18 As of the end of December, which product would the Low Tech customers' perceive as having the most attractive price? (Refer to the Round 2 Foundation FastTrack Report available both on Blackboard and in Appendix 1 of “An Introduction to Business.”) : Abler • Question 19 What percentage of the Low Tech market knew about product Cake when making their purchase decision? (Refer to the Round 2 Foundation FastTrack Report available both on Blackboard and in Appendix 1 of “An Introduction to Business.”) : 78% • Question 20 If company Ferris wanted product Fast to be positioned on the "ideal" spot for the high tech market for next year, what changes would they make? (Refer to the Round 2 Foundation FastTrack Report available both on Blackboard and in Appendix 1 of “An Introduction to Business.”) : Pfmn- 9.5; Size- 10.5 • Question 1 In the "fishing" story, what influenced the value of Dave's fish in trade? : supply and demand • Question 2 In the "fishing" story, a transaction is: : an agreed upon exchange of goods or services • Question 3 What is a market? : Any mechanism that facilitates exchange of goods and services between buyers and sellers • Question 4 Production may be described as: : The process of making products, i.e. building quality products at lowest possible cost. • Question 5 What statement illustrates the concept of "risk"? : Invest a lot of resources (money) in a developing new product that -- if it fails -- will cause the company to lose money • Question 6 What are some examples of economic costs? : All the above • Question 7 Market research is designed to: : Track revenues and expenses to improve business information and planning • Question 8 Price, promotion, placement and product (the four Ps) are aspects of what? : Marketing • Question 9 Marketing strategy is most successful when it has: : a customer orientation • Question 10 What is market segmentation? : Identifying and grouping potential customers by geographic, demographic, and psychographic attributes according to common characteristics and needs • Question 11 To increase a number by 10% you can either multiply the base number by 0.1 and add that number to the base, or you can multiply the number by 1.1 and get the same . For example: 6,098 + (6,098 * .1) = 6,707.8 and 6,098 * 1.1 = 6,707.8 : True • Question 12 If demand last year was 1,000 and that demand increases by 20% next year, what will the demand be next year? : 1,200 • Question 13 Which product has the best position for the High Tech market? (Refer to the Round 2 Foundation FastTrack Report- available both on Blackboard and in Appendix 1 of “An Introduction to Business.”) : Daze • Question 14 Which of these activities would increase the material costs? : All the above • Question 15 The four components of the fine cut are: : all the above • Question 16 In Foundation, awareness of a product is created specifically through the: : sales budget • Question 17 What will change a product's position on the perceptual map? : A change in the product's size or performance • Question 18 According to the Team Member guide, $1,500 invested in the promotion budget buys an additional 35% awareness. If Chester invested $1,500 in promoting Cake, what would Cake's awareness be next year? (Refer to the Round 2 Foundation FastTrack Report available both on Blackboard and in Appendix 1 of “An Introduction to Business.”) : 56% • Question 19 As of the end of December, which product would the Low Tech customers' perceive as having the most attractive price? (Refer to the Round 2 Foundation FastTrack Report available both on Blackboard and in Appendix 1 of “An Introduction to Business.”) : Baker • Question 20 To best serve the Low Tech market, why should Baldwin reposition Baker this year? (Refer to the Round 2 Foundation FastTrack Report available both on Blackboard and in Appendix 1 of “An Introduction to Business.”) : They should NOT reposition the product this year. • Question 1 In the "fishing" story, which best describes the concept of "profit?" : Achieving wealth through meeting needs • Question 2 In the "fishing" story, what best describes wealth? : all of the material items in anyone's possession • Question 3 One economic view of jobs categorizes them into four areas that include: : agriculture, manufacturing, service, and intellectual and information services. • Question 4 Not knowing exactly what will happen based on the decisions made is known as: : uncertainty • Question 5 What is an example of a market? : All the above • Question 6 What are some examples of economic costs? : All the above • Question 7 Distribution is best described as: : Getting product to a place where customers can purcahse it • Question 8 Marketing strategy is most successful when it has: : a customer orientation • Question 9 What is market segmentation? : Identifying and grouping potential customers by geographic, demographic, and psychographic attributes according to common characteristics and needs • Question 10 What does the research and development department do? : Creates new products and changes specifications on existing products based on customer needs • Question 11 If demand last year was 1,000 and that demand increases by 20% next year, what will the demand be next year? : 1,200 • Question 12 You have evaluated product Acorn (a made up product) against the Buying Criteria of the Low Tech market and gotten the following "attractiveness" scores: MTBF 100, Price 23, Age 87, and Position 92. What is the Customer Survey Score for this month? : 63.9 • Question 13 What is a 10% increase from a base of 1,000? : 1,100 • Question 14 The strength of the promotional investment is measured by: : awareness • Question 15 The perceptual map evaluates and compares: : the distribution of competing products in the industry in relation to segment preferences • Question 16 In Foundation, awareness of a product is created specifically through the: : promotion budget • Question 17 In Foundation, what product decisions influence material costs? : all the above • Question 18 As of the end of December, which product would the Low Tech customers' perceive as having the most attractive price? (Refer to the Round 2 Foundation FastTrack Report available both on Blackboard and in Appendix 1 of “An Introduction to Business.”) : Cake • Question 19 To best serve the Low Tech market, why should Baldwin reposition Baker this year? (Refer to the Round 2 Foundation FastTrack Report available both on Blackboard and in Appendix 1 of “An Introduction to Business.”) : They should NOT reposition the product this year. • Question 20 Company Chester is going to reposition Cake and the change has a revision date of August 12 of the coming year (August 12 is 7/10 of a year). What will Cakes perceived age be on August 13? (Refer to the Round 2 Foundation FastTrack Report available both on Blackboard and in Appendix 1 of “An Introduction to Business.”) : 2.3 years old • Question 1 In the "fishing" story, what influenced the value of Dave's fish in trade? : supply and demand • Question 2 In the "fishing" story, what is an example of a competitive advantage? : The owner of the net can capture more fish in less time than either pole • Question 3 Not knowing exactly what will happen based on the decisions made is known as: : uncertainty • Question 4 What is an example of a market? : All the above • Question 5 Organizing may be described as: : Arranging the organizations resources and activities in a way so it's possible to accomplish the plan. • Question 6 Which business activity requires funding the business and using its resources effectively? : all the above • Question 7 What is the "fifth" aspect of the marketing mix? : service • Question 8 Marketing strategy is most successful when it has: : a customer orientation • Question 9 What does the research and development department do? : Creates new products and changes specifications on existing products based on customer needs • Question 10 What is market segmentation? : Identifying and grouping potential customers by geographic, demographic, and psychographic attributes according to common characteristics and needs • Question 11 Which product has the best position for the High Tech market? (Refer to the Round 2 Foundation FastTrack Report- available both on Blackboard and in Appendix 1 of “An Introduction to Business.”) : Fast • Question 12 If demand last year was 1,000 and that demand increases by 20% next year, what will the demand be next year? : 1,200 • Question 13 What is the "ideal" position for a Low Tech product next year? (Refer to the Round 2 Foundation FastTrack Report- available both on Blackboard and in Appendix 1 of “An Introduction to Business.”) : Pfmn- 5.8; Size- 14.2 • Question 14 In Foundation, what product decisions influence material costs? : all the above • Question 15 The four components of the fine cut are: : all the above • Question 16 What does the "ideal spot" of a perceptual map define? : The position in the fine cut circle where demand for the product is strongest. • Question 17 In Foundation, awareness of a product is created specifically through the: : promotion budget • Question 18 What percentage of the High Tech market knew about product Baker when making their purchase decision? (Refer to the Round 2 Foundation FastTrack Report available both on Blackboard and in Appendix 1 of “An Introduction to Business.”) : 46% • Question 19 Company Erie is going to change Eat's MTBF to 20,000 hours and the change has a revision date of February 12 (2/10 of a year). What will Eat's perceived age be on February 13? (Refer to the Round 2 Foundation FastTrack Report available both on Blackboard and in Appendix 1 of “An Introduction to Business.”) : 3.5 years old • Question 20 As of the end of December, which of these products has the best age for the High Tech market? (Refer to the Round 2 Foundation FastTrack Report available both on Blackboard and in Appendix 1 of “An Introduction to Business.”) : Dabble • Question 1 In the "fishing" story, what prevents Dave from killing evil Ralph or cutting his nets? : A city ordinance • Question 2 In the "fishing" story, what influenced the value of Dave's fish in trade? : supply and demand • Question 3 In a capitalist, or private enterprise system, individual citizens own and operate the majority of businesses and the ______ determines the distribution of resources. : market • Question 4 What is an advantage of economic specialization? : It provides an opportunity to experience greater efficiency and increased productivity • Question 5 What statement illustrates the concept of "risk"? : Invest a lot of resources (money) in a developing new product that -- if it fails -- will cause the company to lose money • Question 6 What is an example of a market? : All the above • Question 7 The marketing mix includes: : all the above • Question 8 What is market segmentation? : Identifying and grouping potential customers by geographic, demographic, and psychographic attributes according to common characteristics and needs • Question 9 Primary market research includes: : conducting direct research with existing and potential customers • Question 10 What does target marketing involve? : Selecting only one market to reach • Question 11 What is the "ideal" position for a Low Tech product next year? (Refer to the Round 2 Foundation FastTrack Report- available both on Blackboard and in Appendix 1 of “An Introduction to Business.”) : Pfmn- 6.8; Size- 13.2 • Question 12 Which product will be most attractive to High Tech customers as of January 1 next year? (Refer to the Round 2 Foundation FastTrack Report- available both on Blackboard and in Appendix 1 of “An Introduction to Business.”) : Fast • Question 13 If (in a couple of years) company Digby wanted to revise product Dabble to serve the Low Tech market, what changes would they make to the MTBF? (Refer to the Round 2 Foundation FastTrack Report- available both on Blackboard and in Appendix 1 of “An Introduction to Business.”) : Change MTBF to 16,000; a value in the middle of the range so it is both attractive and it would have lower cost. • Question 14 The strength of the promotional investment is measured by: : awareness • Question 15 Reliability perceptions are expressed as: : mean time between failure - MTBF • Question 16 The promotion budget follows in a pattern that if $1 million buys 30% awareness, then $2 million buys less than 60% awareness. This is called: : diminishing returns • Question 17 What does the "ideal spot" of a perceptual map define? : The position in the fine cut circle where demand for the product is strongest. • Question 18 According to the Team Member guide, $1,500 invested in the promotion budget buys an additional 35% awareness. If Chester invested $1,500 in promoting Cake, what would Cake's awareness be next year? (Refer to the Round 2 Foundation FastTrack Report available both on Blackboard and in Appendix 1 of “An Introduction to Business.”) : 58% • Question 19 To best serve the Low Tech market, why should Andrews reposition Able this year? (Refer to the Round 2 Foundation FastTrack Report available both on Blackboard and in Appendix 1 of “An Introduction to Business.”) : They should NOT reposition the product this year. • Question 20 To best serve the Low Tech market, why should Baldwin reposition Baker this year? (Refer to the Round 2 Foundation FastTrack Report available both on Blackboard and in Appendix 1 of “An Introduction to Business.”) : To improve product reliability • Question 1 From the "fishing" story, what is an example of a procedural innovation? : Use a net • Question 2 In the "fishing" story, a transaction is: : an agreed upon exchange of goods or services • Question 3 In a capitalist, or private enterprise system, individual citizens own and operate the majority of businesses and the ______ determines the distribution of resources. : market • Question 4 Production may be described as: : The process of making products, i.e. building quality products at lowest possible cost. • Question 5 What process allows managers to manage in an uncertain and risky environment? : Managing -- establish a goal, create a plan, organize the resources, operate the plan, and measure the results • Question 6 Not knowing exactly what will happen based on the decisions made is known as: : uncertainty • Question 7 What does target marketing involve? : Concentrating marketing efforts on one or a few key markets most likely to buy your product. • Question 8 What does the research and development department do? : Creates new products and changes specifications on existing products based on customer needs • Question 9 Price, promotion, placement and product (the four Ps) are aspects of what? : Management • Question 10 Market research is designed to: : Help determine what is important to customers and how they want product to perform • Question 11 To increase a number by 10% you can either multiply the base number by 0.1 and add that number to the base, or you can multiply the number by 1.1 and get the same . For example: 6,098 + (6,098 * .1) = 6,707.8 and 6,098 * 1.1 = 6,707.8 : True • Question 12 What is the "ideal" position for a High Tech product next year? (Refer to the Round 2 Foundation FastTrack Report- available both on Blackboard and in Appendix 1 of “An Introduction to Business.”) : Pfmn-10.2; Size- 9.8 • Question 13 Which product has the best position for the Low Tech market for the coming year in Round 3? (Refer to the Round 2 Foundation FastTrack Report- available both on Blackboard and in Appendix 1 of “An Introduction to Business.”) : Daze • Question 14 The strength of the distribution investment is measured by: : awareness • Question 15 In Foundation, what product attribute is defined by the interaction between the date a product is introduced and the date of later product revisions? : age • Question 16 What does the "ideal spot" of a perceptual map define? : The position in the fine cut circle where demand for the product is strongest. • Question 17 The promotion budget follows in a pattern that if $1 million buys 30% awareness, then $2 million buys less than 60% awareness. This is called: : diminishing returns • Question 18 What percentage of the Low Tech market knew about product Cake when making their purchase decision? (Refer to the Round 2 Foundation FastTrack Report available both on Blackboard and in Appendix 1 of “An Introduction to Business.”) : 78% • Question 19 Company Chester is going to reposition Cake and the change has a revision date of August 12 of the coming year (August 12 is 7/10 of a year). What will Cakes perceived age be on August 13? (Refer to the Round 2 Foundation FastTrack Report available both on Blackboard and in Appendix 1 of “An Introduction to Business.”) : 3.3 years old • Question 20 To best serve the High Tech market, why should Ferris reposition Fast this year? (Refer to the Round 2 Foundation FastTrack Report available both on Blackboard and in Appendix 1 of “An Introduction to Business.”) : Both a. and b. ; position and age are both very important in managing a high tech product. • Question 1 In the "fishing" story, what influenced the value of Dave's fish in trade? : supply and demand • Question 2 In the "fishing" story, what is an example of a competitive advantage? : The owner of the net can capture more fish in less time than either pole • Question 3 In a capitalist, or private enterprise system, individual citizens own and operate the majority of businesses and the ______ determines the distribution of resources. : market • Question 4 What is a market? : Any mechanism that facilitates exchange of goods and services between buyers and sellers • Question 5 Which business activity requires funding the business and using its resources effectively? : all the above • Question 6 Before the Industrial Revolution began in the late 18th century, more than ____ percent of the world's workforce was employed in the agricultural sector. : 80 • Question 7 The marketing mix includes: : all the above • Question 8 What is the "fifth" aspect of the marketing mix? : service • Question 9 Market segmentation identifies customer group on the basis of their needs regarding: : all the above • Question 10 What does target marketing involve? : Concentrating marketing efforts on one or a few key markets most likely to buy your product. • Question 11 Which product has the best position for the Low Tech market for the coming year in Round 3? (Refer to the Round 2 Foundation FastTrack Report- available both on Blackboard and in Appendix 1 of “An Introduction to Business.”) : Daze • Question 12 Which product will be most attractive to High Tech customers as of January 1 next year? (Refer to the Round 2 Foundation FastTrack Report- available both on Blackboard and in Appendix 1 of “An Introduction to Business.”) : Fast • Question 13 To increase a number by 10% you can either multiply the base number by 0.1 and add that number to the base, or you can multiply the number by 1.1 and get the same . For example: 6,098 + (6,098 * .1) = 6,707.8 and 6,098 * 1.1 = 6,707.8 : True • Question 14 In Foundation, which market segment makes up the greatest percentage of sales in dollars? : Low Tech • Question 15 The perceptual map evaluates and compares: : the position of competing products in the industry in relation to segment preferences • Question 16 What does the "ideal spot" of a perceptual map define? : The position in the fine cut circle where demand for the product is strongest. • Question 17 In Foundation, accessibility of a product is created through the: : accessibility budget • Question 18 Company Chester is going to reposition Cake and the change has a revision date of August 12 of the coming year (August 12 is 7/10 of a year). What will Cakes perceived age be on August 13? (Refer to the Round 2 Foundation FastTrack Report available both on Blackboard and in Appendix 1 of “An Introduction to Business.”) : 2.0 years old • Question 19 Company Erie is going to change Eat's MTBF to 20,000 hours and the change has a revision date of February 12 (2/10 of a year). What will Eat's perceived age be on February 13? (Refer to the Round 2 Foundation FastTrack Report available both on Blackboard and in Appendix 1 of “An Introduction to Business.”) : 3.5 years old • Question 20 To best serve the High Tech market, why should Ferris reposition Fast this year? (Refer to the Round 2 Foundation FastTrack Report available both on Blackboard and in Appendix 1 of “An Introduction to Business.”) : Both a. and b. ; position and age are both very important in managing a high tech product. • Question 1 From the "fishing" story, what is an example of a technological innovation? : the use of nets, rather than a pole, for fishing • Question 2 In the "fishing" story, competition results in: : Efficient allocation of goods • Question 3 One attribute of competing in a private enterprise is that competitors are motivated to offer customers: : the most elaborate product • Question 4 What statement illustrates the concept of "risk"? : Invest a lot of resources (money) in a developing new product that -- if it fails -- will cause the company to lose money • Question 5 How would you best define demand? : The quantity of goods and services consumers are willing to buy at different prices • Question 6 Efficient means: : Doing things faster • Question 7 What is the "fifth" aspect of the marketing mix? : service • Question 8 What is market segmentation? : Identifying and grouping potential customers by geographic, demographic, and psychographic attributes according to common characteristics and needs • Question 9 The marketing mix includes: : all the above • Question 10 What does the research and development department do? : Creates new products and changes specifications on existing products based on customer needs • Question 11 What is the "ideal" position for a Low Tech product next year? (Refer to the Round 2 Foundation FastTrack Report- available both on Blackboard and in Appendix 1 of “An Introduction to Business.”) : Pfmn- 5.8; Size- 14.2 • Question 12 If (in a couple of years) company Digby wanted to revise product Dabble to serve the Low Tech market, what changes would they make to the MTBF? (Refer to the Round 2 Foundation FastTrack Report- available both on Blackboard and in Appendix 1 of “An Introduction to Business.”) : Change it to 20,000; that is the top the range for Low Tech customers and anything beyond this increases cost and does not add perceived customer value. • Question 13 Which product has the best position for the Low Tech market for the coming year in Round 3? (Refer to the Round 2 Foundation FastTrack Report- available both on Blackboard and in Appendix 1 of “An Introduction to Business.”) : Daze • Question 14 In Foundation, accessibility of a product is created through the: : marketing budget • Question 15 The perceptual map evaluates and compares: : the position of competing products in the industry in relation to segment preferences • Question 16 What will change a product's position on the perceptual map? : A change in the product's size or performance • Question 17 In Foundation, which market segment is more sensitive to product position and less sensitive to price? : Low Tech • Question 18 If company Ferris wanted product Fast to be positioned on the "ideal" spot for the high tech market for next year, what changes would they make? (Refer to the Round 2 Foundation FastTrack Report available both on Blackboard and in Appendix 1 of “An Introduction to Business.”) : Pfmn- 8.8; Size- 11.2 • Question 19 According to the Team Member guide, $1,500 invested in the promotion budget buys an additional 35% awareness. If Chester invested $1,500 in promoting Cake, what would Cake's awareness be next year? (Refer to the Round 2 Foundation FastTrack Report available both on Blackboard and in Appendix 1 of “An Introduction to Business.”) : 72.3% • Question 20 What percentage of the High Tech market knew about product Baker when making their purchase decision? (Refer to the Round 2 Foundation FastTrack Report available both on Blackboard and in Appendix 1 of “An Introduction to Business.”) : 88.5% • Question 1 In the "fishing" story, what prevents Dave from killing evil Ralph or cutting his nets? : Physical limitations • Question 2 From the "fishing" story, what is an example of a procedural innovation? : Get up earlier and fish with three poles instead of one • Question 3 Production may be described as: : The process of making products, i.e. building quality products at lowest possible cost. • Question 4 Not knowing exactly what will happen based on the decisions made is known as: : uncertainty • Question 5 Organizing may be described as: : Arranging the organizations resources and activities in a way so it's possible to accomplish the plan. • Question 6 How would you describe the concept of scarcity? : Our wants are greater than the resources available to satisfy them • Question 7 What is market segmentation? : Identifying and grouping potential customers by geographic, demographic, and psychographic attributes according to common characteristics and needs • Question 8 Marketing strategy is most successful when it has: : a customer orientation • Question 9 What does target marketing involve? : Concentrating marketing efforts on one or a few key markets most likely to buy your product. • Question 10 Market segmentation identifies customer group on the basis of their needs regarding: : all the above • Question 11 A change in Mean Time Between Failure (MTBF) has what effect on the age of the product? : All the above • Question 12 What is the "ideal" position for a High Tech product next year? (Refer to the Round 2 Foundation FastTrack Report- available both on Blackboard and in Appendix 1 of “An Introduction to Business.”) : Pfmn- 9.8; Size- 10.2 • Question 13 To increase a number by 10% you can either multiply the base number by 0.1 and add that number to the base, or you can multiply the number by 1.1 and get the same . For example: 6,098 + (6,098 * .1) = 6,707.8 and 6,098 * 1.1 = 6,707.8 : True • Question 14 The strength of the distribution investment is measured by: : accessibility • Question 15 In Foundation, which market segment makes up the greatest percentage of sales in dollars? : Low Tech • Question 16 Which of these activities would increase the material costs? : All the above • Question 17 The promotion budget follows in a pattern that if $1 million buys 30% awareness, then $2 million buys less than 60% awareness. This is called: : diminishing returns • Question 18 Company Erie is going to change Eat's MTBF to 20,000 hours and the change has a revision date of February 12 (2/10 of a year). What will Eat's perceived age be on February 13? (Refer to the Round 2 Foundation FastTrack Report available both on Blackboard and in Appendix 1 of “An Introduction to Business.”) : 3.5 years old • Question 19 As of the end of December, which of these products has the best age for the High Tech market? (Refer to the Round 2 Foundation FastTrack Report available both on Blackboard and in Appendix 1 of “An Introduction to Business.”) : Dabble • Question 20 To best serve the Low Tech market, why should Andrews reposition Able this year? (Refer to the Round 2 Foundation FastTrack Report available both on Blackboard and in Appendix 1 of “An Introduction to Business.”) : To manage the age -- it will be more than 4 years old at the end of the year • Question 1 The private enterprise system requires the existence of four conditions including: : the ownership of private property, freedom of choice, the right to keep profits, and an environment where fair competition can occur. • Question 2 In the "fishing" story, competition results in: : all the above • Question 3 One economic view of jobs categorizes them into four areas that include: : agriculture, manufacturing, service, and intellectual and information services. • Question 4 How would you describe the concept of scarcity? : Our wants are greater than the resources available to satisfy them • Question 5 Production may be described as: : The process of making products, i.e. building quality products at lowest possible cost. • Question 6 Efficient means: : Doing things right • Question 7 Primary market research includes: : conducting research based on published information • Question 8 The marketing mix includes: : all the above • Question 9 What is the "fifth" aspect of the marketing mix? : service • Question 10 Market segmentation identifies customer group on the basis of their needs regarding: : all the above • Question 11 What is the "ideal" position for a Low Tech product next year? (Refer to the Round 2 Foundation FastTrack Report- available both on Blackboard and in Appendix 1 of “An Introduction to Business.”) : Pfmn- 6.5; Size- 13.5 • Question 12 You have evaluated product Acorn (a made up product) against the Buying Criteria of the Low Tech market and gotten the following "attractiveness" scores: MTBF 100, Price 23, Age 87, and Position 92. What is the Customer Survey Score for this month? : 63.9 • Question 13 To increase a number by 10% you can either multiply the base number by 0.1 and add that number to the base, or you can multiply the number by 1.1 and get the same . For example: 6,098 + (6,098 * .1) = 6,707.8 and 6,098 * 1.1 = 6,707.8 : True • Question 14 The strength of the distribution investment is measured by: : accessibility • Question 15 In Foundation, what product attribute is defined by the interaction between the date a product is introduced and the date of later product revisions? : age • Question 16 The promotion budget follows in a pattern that if $1 million buys 30% awareness, then $2 million buys less than 60% awareness. This is called: : diminishing returns • Question 17 In Foundation, awareness of a product is created specifically through the: : promotion budget • Question 18 To best serve the Low Tech market, why should Andrews reposition Able this year? (Refer to the Round 2 Foundation FastTrack Report available both on Blackboard and in Appendix 1 of “An Introduction to Business.”) : To be able to reduce the price and still make a profit • Question 19 As of the end of December, which of these products has the best age for the High Tech market? (Refer to the Round 2 Foundation FastTrack Report available both on Blackboard and in Appendix 1 of “An Introduction to Business.”) : Dabble • Question 20 Company Chester is going to reposition Cake and the change has a revision date of August 12 of the coming year (August 12 is 7/10 of a year). What will Cakes perceived age be on August 13? (Refer to the Round 2 Foundation FastTrack Report available both on Blackboard and in Appendix 1 of “An Introduction to Business.”) : 2.0 years old • Question 1 In the "fishing" story, a transaction is: : an agreed upon exchange of goods or services • Question 2 In the "fishing" story, what best describes wealth? : all of the material items in anyone's possession • Question 3 What statement illustrates the concept of "risk"? : Invest a lot of resources (money) in a developing new product that -- if it fails -- will cause the company to lose money • Question 4 Not knowing exactly what will happen based on the decisions made is known as: : uncertainty • Question 5 What is an advantage of economic specialization? : It provides an opportunity to experience greater efficiency and increased productivity • Question 6 What process allows managers to manage in an uncertain and risky environment? : Managing -- establish a goal, create a plan, organize the resources, operate the plan, and measure the results • Question 7 Sales forecasting is often challenging due to the: : many unpredictable variables that influence your target market's decision to buy product • Question 8 Market segmentation identifies customer group on the basis of their needs regarding: : all the above • Question 9 What does target marketing involve? : Concentrating marketing efforts on one or a few key markets most likely to buy your product. • Question 10 Market research is designed to: : Help determine what is important to customers and how they want product to perform • Question 11 What is the "ideal" position for a Low Tech product next year? (Refer to the Round 2 Foundation FastTrack Report- available both on Blackboard and in Appendix 1 of “An Introduction to Business.”) : Pfmn- 6.3; Size- 13.7 • Question 12 To increase a number by 10% you can either multiply the base number by 0.1 and add that number to the base, or you can multiply the number by 1.1 and get the same . For example: 6,098 + (6,098 * .1) = 6,707.8 and 6,098 * 1.1 = 6,707.8 : True • Question 13 How many units could be sold in the Low Tech market next year? (Refer to the Round 2 Foundation FastTrack Report- available both on Blackboard and in Appendix 1 of “An Introduction to Business.”) : 6,708 • Question 14 The four components of the fine cut are: : all the above • Question 15 What does the "ideal spot" of a perceptual map define? : The position in the fine cut circle where demand for the product is strongest. • Question 16 In Foundation, what product attribute is defined by the interaction between the date a product is introduced and the date of later product revisions? : age • Question 17 In Foundation, which market segment makes up the greatest percentage of sales in dollars? : Low Tech • Question 18 To best serve the Low Tech market, why should Andrews reposition Able this year? (Refer to the Round 2 Foundation FastTrack Report available both on Blackboard and in Appendix 1 of “An Introduction to Business.”) : To be able to reduce the price and still make a profit • Question 19 To best serve the High Tech market, why should Ferris reposition Fast this year? (Refer to the Round 2 Foundation FastTrack Report available both on Blackboard and in Appendix 1 of “An Introduction to Business.”) : Both a. and b. ; position and age are both very important in managing a high tech product. • Question 20 Company Chester is going to reposition Cake and the change has a revision date of August 12 of the coming year (August 12 is 7/10 of a year). What will Cakes perceived age be on December 31? (Refer to the Round 2 Foundation FastTrack Report available both on Blackboard and in Appendix 1 of “An Introduction to Business.”) : 2.3 years old • Question 1 In the "fishing" story, what best describes wealth? : all of the material items in anyone's possession • Question 2 The private enterprise system requires the existence of four conditions including: : the ownership of private property, freedom of choice, the requirement to share profits, and an environment where fair competition can occur. • Question 3 _____________ determines what the organization needs to do and how to get it done. : Planning • Question 4 A business engages in which activities? : all the above • Question 5 Not knowing exactly what will happen based on the decisions made is known as: : uncertainty • Question 6 Production may be described as: : The process of making products, i.e. building quality products at lowest possible cost. • Question 7 Price, promotion, placement and product (the four Ps) are aspects of what? : Marketing • Question 8 What does the research and development department do? : Creates new products and changes specifications on existing products based on customer needs • Question 9 Distribution is best described as: : Getting product to a place where customers can purcahse it • Question 10 Marketing strategy is most successful when it has: : a customer orientation • Question 11 How many units could be sold in the Low Tech market next year? (Refer to the Round 2 Foundation FastTrack Report- available both on Blackboard and in Appendix 1 of “An Introduction to Business.”) : 6,708 • Question 12 To increase a number by 10% you can either multiply the base number by 0.1 and add that number to the base, or you can multiply the number by 1.1 and get the same . For example: 6,098 + (6,098 * .1) = 6,707.8 and 6,098 * 1.1 = 6,707.8 : True • Question 13 If demand last year was 1,000 and that demand increases by 20% next year, what will the demand be next year? : 1,200 • Question 14 Which of these activities would increase the material costs? : All the above • Question 15 In Foundation, which market segment is more sensitive to product position and less sensitive to price? : High Tech • Question 16 What does the "ideal spot" of a perceptual map define? : The position in the fine cut circle where demand for the product is strongest. • Question 17 The four components of the fine cut are: : all the above • Question 18 Company Chester is going to reposition Cake and the change has a revision date of August 12 of the coming year (August 12 is 7/10 of a year). What will Cakes perceived age be on August 13? (Refer to the Round 2 Foundation FastTrack Report available both on Blackboard and in Appendix 1 of “An Introduction to Business.”) : 2.0 years old • Question 19 To best serve the Low Tech market, why should Andrews reposition Able this year? (Refer to the Round 2 Foundation FastTrack Report available both on Blackboard and in Appendix 1 of “An Introduction to Business.”) : To manage the age -- it will be more than 4 years old at the end of the year • Question 20 What percentage of the Low Tech market knew about product Cake when making their purchase decision? (Refer to the Round 2 Foundation FastTrack Report available both on Blackboard and in Appendix 1 of “An Introduction to Business.”) : 78% [Show More]

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