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Randy is planning to build a new apartment complex near Ohio State. Randy needs to decide what amenities he needs to add to this new complex. He’s considering amenities like a pickle ball court, a swimming pool, a rooftop lounge, a movie theater, and a 24/7 convenience store. Because he’s going to spend millions of dollars on this investment, he needs to make sure that he’s selecting the right amenities for his target market (i.e., Ohio State students). Which type of research would be most suitable?

David works for a market research firm who has tasked him with classifying consumer products. He’s currently evaluating a product that is fairly expensive, is sold at a large number of selective outlets, and is usually purchased infrequently. How should David categorize this consumer product?

Chick-fil-A is well known as one of the best fast-food restaurants in America. Its food is good, but what really differentiates it is its customer service. The friendly and caring staff are consistently ranked as one of the top reasons that people return to Chick-fil-A. Which one of the 7 Ps of Services Marketing is Chick-fil-A using in this scenario?

Aaron works for Nike and has been asked to provide the contribution margin percentage of their latest line of shoes. Here’s the information he has. Selling Price/Unit ($100), Fixed Cost/Unit ($20/unit), Variable Cost/Unit ($60). What’s the contribution margin percentage?

The lecture talked about how one of the reasons Uber took off so quickly was because people could visibly see the benefit of Uber vs. a Taxi. Which factor of new product success is this an example of?

According to the lecture, what allowed Wallick to offer their communities to customers at such a low price?

Which is NOT one of the ways to identify the “job to be done” for your target customer mentioned in the lecture?

What is the biggest concern with dynamic pricing?

Sam is a brand manager for Frito-Lay and he’s been asked to launch a new brand of chips to help grow their business. He believes there’s an opportunity to launch an organic chip that could resonate with health-conscious consumers. Sam is trying to identify the insight he can use to develop his positioning, so he spends several months conducting market research. He discovers the below findings. Which one is most likely an insight for Frito-Lay?

Hydro Flask makes premium water bottles, and they are thinking of launching a new water bottle with a self-sealing straw. The technology is considered breakthrough but the contribution margin on the new bottle is lower than the original Hydro Flask water bottle and the company is concerned that the new bottle will steal customers and sales from its original product and result in a lower overall contribution margin percentage. This concern relates to what concept?