MikesBikes Quiz 1 Welcome to the MikesBikes Intro SuperFan Quiz! Take the MikesBikes Intro Quiz below to go into the draw to win a US$50 Cash Prize and the title of MikesBikes SuperFan! Participants have up to five attempts to answer the most correct questions in the fastest time. Like the Smartsims Facebook Page to receive updates and winner announcements. Competition closes 31 May 2017 (USA EST). Full terms and conditions here. If you have any questions then please contact us. Name Email Address 1. An important task in marketing your product is to identify what your customers want. This will increase demand for your products, and therefore, Sales. Market Research on the bicycle industry has been provided for you on the Market Information report. An excerpt of this report is below. On the example Market Summary report below, which company has the least effective Advertising and PR strategy? BikesRUs Speedy Cycles Dusty Roads Deals on Wheels2. Which of the following statements are true? Modifying a bike allows us to keep the awareness for our bike When modifying a bike we lose all of our awareness for the product When modifying a bike, there is a 20% awareness carry over from the previous period which will be transferred to the new design3. An important task in marketing your product is to identify what your customers want. This will increase demand for your products, and therefore, Sales. Market Research on the bicycle industry has been provided for you on the Market Information report. An excerpt of this report is below. Based off the information above, which product listed in the image below is appealing best to consumer preferences? RoadRacer (by TAYN Bike Co.) Race Bike (by Bike Roll) DemonX (by JEAT Bikes)4. On the example Market Summary report below, which company has the most effective Advertising and PR strategy? Pedal Pushers Cyclepaths WickedWheels Outspoken Cycles Mike N Bike First Flight Bicycle5. Why is it important to consider both retail price and retail margin when making marketing decisions? To help forecast net income To help forecast net cashflow To help forecast debt to equity ratio To help forecast return on equity6. An important task in marketing your product is to identify what your customers want. This will increase demand for your products, and therefore, Sales. Market Research on the bicycle industry has been provided for you on the Market Information report. An excerpt of this report is below. On the example Market Summary report below, which company has the most effective Advertising and PR strategy? Dusty Roads Speedy Cycles BikesRUs Deals on Wheels7. An important task in marketing your product is to identify what your customers want. This will increase demand for your products, and therefore, Sales. Market Research on the bicycle industry has been provided for you on the Market Information report. An excerpt of this report is below. Based off the information above, which product listed in the image below is appealing best to consumer preferences? Adv3 (by First Flight Bicycle) Adv4 (by WickedWheels) Adv6 (by Outspokin Cycles) Adv1 (by Mike N Bikes)8. Which decision area affects Shareholder Value the most? Manufacturing Marketing and Distribution All decisions work together so that a balanced strategy can be executed Product Development Finance9. What factors contribute to your distribution rating? Market share, extra support, retailers margin and sales revenue Retailer margin, extra support, market share and last year's sales volume Advertising spend, sales volume, unit sales history and retail price Sales volume, retail price, retailer margin and extra support10. Which is the best media channel to promote your bikes through? Internet TV Magazines Depends on the consumer preferences of the market segmentClick submit button when you are ready.