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06 Oct 2021, 08:00
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Expense report memo from SuperStudios Purchasing Dept.
You requested information on our purchases from ComplexCamera in the past 6 months. Summarized below.
Date: Jan 10, 2010
Item / Quantity: LSX-300 / 10
Item / Quantity: Horizon 110 / 12
Total Cost: $21,500
Date: June 17, 2010
Item / Quantity: LSX-300 / 5
Item / Quantity: Horizon 110 / 14
Total Cost: $17,750
You requested information on our purchases from ComplexCamera in the past 6 months. Summarized below.
Date: Jan 10, 2010
Item / Quantity: LSX-300 / 10
Item / Quantity: Horizon 110 / 12
Total Cost: $21,500
Date: June 17, 2010
Item / Quantity: LSX-300 / 5
Item / Quantity: Horizon 110 / 14
Total Cost: $17,750
In a saturated market, products with comparable technological features and of the same quality will have prices which vary greatly.: No
The company should try to differentiate its product by emphasizing its unique features in order to increase market share.: Yes
Consumers who believe the features of two different products to be comparable will believe that the higher-cost LSX-300 is better in quality.: No
Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!
Difficulty:
65%
(hard)
Question Stats:
46% (03:09) correct
54%
(03:14)
wrong
based on 510
sessions
History
Date
Time
Result
Not Attempted Yet
1. Consider the statements below. Can each statement be inferred from the information given?
| Yes | No | |
| In a saturated market, products with comparable technological features and of the same quality will have prices which vary greatly. | ||
| The company should try to differentiate its product by emphasizing its unique features in order to increase market share. | ||
| Consumers who believe the features of two different products to be comparable will believe that the higher-cost LSX-300 is better in quality. |
ShowHide Answer
Official Answer
In a saturated market, products with comparable technological features and of the same quality will have prices which vary greatly.: No
The company should try to differentiate its product by emphasizing its unique features in order to increase market share.: Yes
Consumers who believe the features of two different products to be comparable will believe that the higher-cost LSX-300 is better in quality.: No
Market share percentage data for the years 1990 through 2005 is a linear function with a positive slope.: False
The line of best fit for sales data for the years 1990 through 2005 is a linear function with a positive slope.: True
The slope of the function representing retail price from 2001 through 2005 is zero.: True
Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!
Difficulty:
65%
(hard)
Question Stats:
54% (01:33) correct
46%
(01:33)
wrong
based on 466
sessions
History
Date
Time
Result
Not Attempted Yet
2. Consider the statements below. Indicate whether each statement is true or false based on the president's note and the accompanying table.
| True | False | |
| Market share percentage data for the years 1990 through 2005 is a linear function with a positive slope. | ||
| The line of best fit for sales data for the years 1990 through 2005 is a linear function with a positive slope. | ||
| The slope of the function representing retail price from 2001 through 2005 is zero. |
ShowHide Answer
Official Answer
Market share percentage data for the years 1990 through 2005 is a linear function with a positive slope.: False
The line of best fit for sales data for the years 1990 through 2005 is a linear function with a positive slope.: True
The slope of the function representing retail price from 2001 through 2005 is zero.: True
Attachment:
1.jpg [ 104.63 KiB | Viewed 6873 times ]
Q1a) In a saturated market, products with comparable technological features and of the same quality will have prices which vary greatly.
A1a) NO. Price will not vary if technological features are similar/comparable. Refer Tab2: Notes (According to its research and that of classical .... similar in terms of quality and technological features to competitor products... prices must meet or beat competitor prices.)
Q1b) The company should try to differentiate its product by emphasizing its unique features in order to increase market share.
A1b) YES. With unique features, the company can keep higher prices (and higher revenue) but no direct relation between higher prices and larger market share can be inferred. Refer Director's note : "our state-of-the-art technology has not been effectively replicated anywhere in the world, and our company has consistently received high ratings in customer service, so a price reduction is not defensible."
Q1c) Consumers who believe the features of two different products to be comparable will believe that the higher-cost LSX-300 is better in quality.
A1c) NO. As per the note, "customers perceive our LSX-300's to be similar in terms of quality and technological features to competitor products, our prices must meet or beat competitor prices", customers are aware that the quality of LSX-300 is similar to its competitors. And
From the info given in Tab1, we find that price of LSX-300 ($1100) is already higher than its competitor ($875). And from Tab2, we know that the customers are already aware that the quality of LSX-300 is similar to its competitors. ("customers perceive our LSX-300's to be similar in terms of quality and technological features to competitor products...")
Still, sales of LSX-300 has drastically declined from Jan to Jun,2010. Hence, this statement cannot be inferred.
Q2a) Market share percentage data for the years 1990 through 2005 is a linear function with a positive slope.
A2a) FALSE. Few of the values are equal and and we observe that change from 2004 to 2005 (40 to 38) is negative.
Q2b) The line of best fit for sales data for the years 1990 through 2005 is a linear function with a positive slope.
A2b) TRUE. Line of best fit will be a line (linear) with positive slope as sales figure are increasing throughout the given time span.
Q2c) The slope of the function representing retail price from 2001 through 2005 is zero.
A2c) TRUE. As values remain constant from 2001 thru 2005 - slope is zero.
A1a) NO. Price will not vary if technological features are similar/comparable. Refer Tab2: Notes (According to its research and that of classical .... similar in terms of quality and technological features to competitor products... prices must meet or beat competitor prices.)
Q1b) The company should try to differentiate its product by emphasizing its unique features in order to increase market share.
A1b) YES. With unique features, the company can keep higher prices (and higher revenue) but no direct relation between higher prices and larger market share can be inferred. Refer Director's note : "our state-of-the-art technology has not been effectively replicated anywhere in the world, and our company has consistently received high ratings in customer service, so a price reduction is not defensible."
Q1c) Consumers who believe the features of two different products to be comparable will believe that the higher-cost LSX-300 is better in quality.
A1c) NO. As per the note, "customers perceive our LSX-300's to be similar in terms of quality and technological features to competitor products, our prices must meet or beat competitor prices", customers are aware that the quality of LSX-300 is similar to its competitors. And
From the info given in Tab1, we find that price of LSX-300 ($1100) is already higher than its competitor ($875). And from Tab2, we know that the customers are already aware that the quality of LSX-300 is similar to its competitors. ("customers perceive our LSX-300's to be similar in terms of quality and technological features to competitor products...")
Still, sales of LSX-300 has drastically declined from Jan to Jun,2010. Hence, this statement cannot be inferred.
Q2a) Market share percentage data for the years 1990 through 2005 is a linear function with a positive slope.
A2a) FALSE. Few of the values are equal and and we observe that change from 2004 to 2005 (40 to 38) is negative.
Q2b) The line of best fit for sales data for the years 1990 through 2005 is a linear function with a positive slope.
A2b) TRUE. Line of best fit will be a line (linear) with positive slope as sales figure are increasing throughout the given time span.
Q2c) The slope of the function representing retail price from 2001 through 2005 is zero.
A2c) TRUE. As values remain constant from 2001 thru 2005 - slope is zero.
yashikaaggarwal
Senior Moderator - Masters Forum
Joined: 19 Jan 2020
Last visit: 30 Jun 2025
Posts: 3,095
Given Kudos: 1,510
Location: India
Schools: Cranfield (A) Warwick MiM "23 (M)
GPA: 4
WE:Analyst (Internet and New Media)
07 Oct 2021, 07:08
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Question 1.
1. Yes
2. No
3. No
Question 2.
1. No
2. Yes
3. Yes
Explanation is in the picture
Posted from my mobile device
1. Yes
2. No
3. No
Question 2.
1. No
2. Yes
3. Yes
Explanation is in the picture
Posted from my mobile device
Attachments
IMG_20211007_193634.jpg [ 1.96 MiB | Viewed 6104 times ]
IMG_20211007_193717.jpg [ 1.3 MiB | Viewed 6081 times ]
