Scenario 6-3 Keds Has Been Trying to Turn Around a Long-Term Slide

question 56

Multiple Choice

Scenario 6-3
Keds has been trying to turn around a long-term slide in its shoe business.For years, it had depended on its image as the women's no-frills summer shoe to keep sales moving.But over time, competition from Sam & Libby and Easy Spirit brands have been nipping at the heels of Keds.As part of its effort to revitalize the brand several years ago, Keds's advertising agency developed a campaign that focuses on the warm, close relationships between mothers and daughters.According to an issue of Brandweek magazine at the time, "The new ads really go for the heart." Copy on the first ad included the mother saying, "She was my first, I could never tell her how to dress," with the daughter saying, "She made me feel pretty even when I had braces."
-(Scenario 6-3) The information provided says that Keds was trying to "turn around a long-term slide" in its shoe business, and that "for years, it had depended on its image as the women's no-frills summer shoe." Obviously, things had changed.And what Keds needed was a change in its once-successful strategy and identity to meet new market conditions, called

• A)internal consistency.
• B)self-expressive marketing.
• C)repositioning.
• D)business-to-business marketing

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Definitions:

Direct Materials Purchases Variance

A measure used in managerial accounting to compare the actual cost of direct materials to the expected cost.

Direct Labor-Hours

The cumulative hours put in by workers directly engaged in manufacturing products or delivering services.

Labor Rate Variance

The variance between the real labor costs and the projected or normative labor costs.

Variable Overhead Efficiency Variance

The difference between the actual variable overhead incurred and the expected (or standard) variable overhead based on output levels.