Explain the purpose of a value map, providing details about how the map should be interpreted
What will be an ideal response?
A manager would use a value map to track and manage the perceived value customers assign to a brand and the competitors' brands. The value map plots the product's selling price against its relative performance. Products that fall in the fair value zone of the map are perceived to have benefits that are equal to the product cost. Products that fall below the fair value zone of a value map are perceived to deliver greater benefits than the product cost. Products that fall above the fair value zone of a value map are perceived to deliver fewer benefits than the product cost.
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A movie theater was built ten years ago. If the neighborhood is now zoned entirely residential, the movie theater:
A. will have to be torn down B. must be remodeled to better conform to the neighborhood's intended use C. will be allowed to continue if the owner obtains a conditional use permit D. will be allowed to continue since it was built before the new zoning law went into effect
In Roni's new sales job with Compu-Tex, she talks with a prospect who is strongly interested in the product, but does not have the budget to purchase a full-year subscription
When Roni reports this to her manager, her manager says, "Turn it into a win-win!" The sales manager most likely wants Roni to: A) sell the product to the customer at wholesale cost. B) work with the customer to sell a length of subscription the customer can afford. C) work with the research and finance departments to find a way to reduce overall costs. D) ask the prospect for a referral so that the time spent with this prospect won't be a loss. E) express appreciation to the prospect for considering the proposal and then find a new lead.