Q1. A few years have passed since tech company NVision launched their new games console, Superbox. The product was once a star, with high, rising sales, but it is now selling quite poorly. In fact, it's selling so poorly that NVision are no longer making a return on the product. Which of the following strategies would be the BEST for NVision to implement?
A.Pull out of the market or, if possible, sell the rights of Superbox to an individual or company who is willing to carry it on.
B. Keep costs low and continue to sell the console.
C. Develop the product for a specific market segment who continue to have a need for it - this will allow NVision to sell the product at a higher price.
D. Allow the product to follow its natural life-cycle.
Correct Answer: A
Q2. Which of the following are types of primary research? Select ALL that apply.
A.Interviews
B. Questionnaires
C. Observation
D. Test marketing
E. Trade associations/professional bodies
F. National and local press
G. Industry magazines
H. Governments
Correct Answer: A, B, C, D
Q3. Mitch owns a small furniture business, which he is keen to grow. Which of the following would MOST benefit the growth of Mitch's business:
A.Forming an alliance with a local supplier.
B. Becoming a shamrock organisation.
C. Becoming a network organisation.
D. Outsourcing all complementary and residual competencies.
E. Reducing the price of all products by a third.
Correct Answer: A
Q4. Which of the following are types of primary research? Select ALL that apply.
A.Interviews
B. Questionnaires
C. Observation
D. Test marketing
E. Trade associations/professional bodies
F. National and local press
G. Industry magazines
H. Governments
Correct Answer: A, B, C, D
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