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BONUS QUESTION: Sears, one of the most popular mass merchants in the past, has been experiencing market share losses for a quite long time. What kind of retailing innovations would you suggest to the top management of Sears after you took a course that emphasizes radical innovations? Please suggest a couple of ideas and briefly describe them in few sentences each. (5 points) 

When a company adopts _____________________as its strategy for target market selection, it introduces multiple productcategories in a single market.

For the following questions please use the following instructions:  Think before your write. Clearly organize and state your thoughts. You will be assessed on what is on your paper. Write clearly and address the question directly in the order it is asked. Use subheadings and don’t make me hunt for your answer. FINALLY write neatly!!

Retailers use __________ extensively. This occurs when the retailer compares sale prices to regular prices, such as when Best Buy promotes a DVD player as $48.00 with its regular price of $75.00.

Procter & Gamble has identified a group of consumers in Europe who are willing to pay premium prices for pet food that will improve the health of their pets. This is an example of ___________________ segmentation.

As one of base pricing strategies, ________________ strategy is to maximize its total returns from a new product.

_______________ is more likely to occur when  dollar value of the purchase increases, opportunity costs of rejected alternatives are high, and purchase decision is emotionally involving.

What is the basic difference between the seller’s and the buyer’s perspectives on pricing?

A Xiaomi’s marketing manager is excited about its innovative products introduced in the market without much clue about different types of innovations. Please identify and explain three types of innovations and offer an example for each type according to the class materials. (10 points)

[Please do NOT answer this question.] Recently, a major manufacturer of small kitchen appliances implemented a program whereby retailers could purchase the firm’s popular coffee makers and blenders, but only if the retailers agreed to purchase its less popular irons and food processors. Many of the retailers became angry and threatened to sue the manufacturer for forcing them into a(n):