How Would a Cell Phone Manufacturer Most Effectively Determine the Market

question 102

Multiple Choice

How would a cell phone manufacturer most effectively determine the market price of a new line of cell phones?

• A) Put several of the new phones on sale at a watch store and see which sells most quickly.
• B) Arrange to sell the phones in a number of diverse auctions.
• C) Set the price of one phone higher than another and see which sells the most quickly.
• D) Survey potential customers and retailers on what they think the price should be.
• E) Ask executives from competing companies about what they think the price should be.

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Definitions:

Reward System

The structure and protocols an organization uses to recognize and reward employee performance, aimed at motivating and retaining staff.

Boundary

A demarcation that marks the limits of an area or concept.

Intrasender Role Conflict

A situation where an individual receives conflicting demands or messages from the same source regarding their role.

Person-Role Conflict

A type of conflict experienced when an individual's personal values, beliefs, or needs are in contradiction with the expectations of their organizational role.