Refer to the Scenario Below to Answer the Following Questions

question 81

Multiple Choice

Refer to the scenario below to answer the following questions.
Steven Ma had built his enterprise on the faithful patronage of four specialty shops and a large contract from Sincere Distributors. But after two years, the maker of novelty pens and pencils had to rethink his strategy when his two-year contract with Elmore ended.
Steven had built a company reputation on the manufacture and distribution of a variety of wooden writing utensils with customized engravings. Specialty shops loved to display the products in their fancy, lighted showcases, but such specialty shops-alone-were not profitable. Steven had established a brand name, known merely as Marks, and decided to expound on it.
Steven extended his writing utensil lines to include quills, felt-tip pens, and multiple-cartridge pens that write in different colors. He even added a line of various grades of personalized stationery and business cards. Perhaps Steven's biggest added touch, however, was the addition of two salespeople who would work to explain the diverse array of products offered by Marks, as well as nurture existing accounts.
"We make an excellent product," Steven stated, "and we honor a good guarantee on everything we sell. But let's face it-we face hundreds of competitors! We need Marks representatives out there to help prospects understand what they should demand in something so simple as a writing tool."
The Marks brand was fast-becoming synonymous with top-notch customer service. Part of the purchase package brought personal visits from the Marks representative, before the purchase and long after.
-Which is the key element in Steven's market offering?

• A) Four specialty shops
• B) Writing utensils
• C) Customized engravings
• D) Diverse array of products
• E) Top-notch customer service

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Definitions:

Research Hypotheses

Proposed explanations made on the basis of limited evidence as starting points for further investigation into the relationships between variables.

Independent Variable

The independent variable is a variable in an experiment or model that is manipulated or changed to observe its effects on a dependent variable.

Distribution

Refers to how values in a data set are spread or dispersed, indicating the frequency of each value or range of values.

Pie Chart

Figure that uses a circle divided into proportions to represent the percentage of the sample corresponding to each value of a variable.