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Scenario 15-1 One of the Nation's Most Popular Times for Sales Promotions

question 57

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Scenario 15-1
One of the nation's most popular times for sales promotions was a great deal longer than usual in 2010. Black Friday, which typically takes place the Friday following Thanksgiving, started in October for a number of retailers and was also scheduled to occur throughout the month of November. Sears and Walmart, who had been experiencing a continuous decline in sales recently, were the biggest names behind the move. Executives from a number of companies began to realize that consumers respond to the word "sale" regardless of the time of year, so they decided to simply stretch the period of time in which their biggest sales ran. Companies designed new sales flyers and circulars, and began to promote the various sales on their websites. Other companies such as Targetwere also implementing a similar strategy; by emphasizing savings earlier in the season and for a longer period of time, company executives hoped their brand would be the first, second, and last choice for consumers during the holiday season. (Stephanie Clifford, "Stores Push Black Friday Into October." The New York Times, October 28, 2010.)
-(Scenario 15-1) Because companies realize consumers will be visiting stores more frequently during the holiday season,several toy manufacturers are paying direct cash to retailers in exchange for placing their brand in the most visible locations.These cash payments are known as __________.

Definitions:

Referent Power

A form of power that stems from being admired and respected. It's the influence one has because others want to identify with or be like them.

Transformational Leadership Perspective

A leadership approach that focuses on inspiring and motivating followers to achieve exceptional outcomes by transforming their beliefs and values.

Culture-Bound

A term indicating that certain practices or beliefs are strongly influenced by and can only be understood within the cultural context in which they arise.

Charismatic Leadership

A leadership style where the leader uses charm and persuasiveness to inspire and motivate followers, often creating a strong emotional bond.