Questions attached in image. Need explanations for each one.

3). Recently, much of the western U.S. experienced a drought condition and water usage was restricted in Denver. When the drought was declared over, the water company significantly raised water prices. However, the residents of Denver did not use less water. Here, water is A. price inelastic (low elasticity). B. price elastic (high elasticity). C. price sensitive. D. price insensitive. E. unitary elastic. 4) Nike identified a target market using targeting/segmentation/positioning for their new shoe. Why do they have to redefine a target again for their IMC even though they already targeted during STP? A. They now need to target a different set of customers. B. Customers changed their preferences so Nike needs to re-target. C. Nike does not have to re-target for their IMC. D. Nike wants to target consumers who are in different stages of the decision process with different forms of communication. E. Nike wants to target consumers who might have a high intention to purchase a competitor's shoe. 5) For Apple's iPhone 4s global promotional strategy, the firm promoted video ads that show similar people using the iPhone in the same way. For each country-specific ad, there was almost no difference in the advertisement, other than the language used. Which of the following product and promotional strategies, in the global marketing context, is Apple most likely implementing for this particular set of advertisements? A. Product Extension Strategy B. Product Adaptation Strategy C. Communication Adaptation Strategy D. Dual Adaptation Strategy E. Product Invention Strategy 6) Which form of IMC is most effective for consumers in the purchase phase (compared to pre-purchase phase or post-purchase phase)? A. Advertising B. Personal Selling C. Direct Marketing D. Public Relations E. All of the above are equally as effective W7) Which one of the following products is most likely to have the lowest price elasticity? A. A product in the Introduction stage of the product life cycle B. A product in the Growth stage of the product life cycle C. A product in the Maturity stage of the product life cycle D. A product in the Decline stage of the product life cycle E. A product in the Competitive stage of the product life cycle 8) Research shows that consumers often assign personality traits to products - traditional, romantic, rugged, sophisticated - and choose brands that are consistent with their own or desired self-image. What form of IMC is best suited to associate these types of traits to the brand? A. Direct Marketing B. Television Advertising C. Personal Selling D. Public Relations E. Sales Promotion 9) A company has fixed costs of $35,000 and variable costs of $7 per item. This company sells 10,000 units and just achieves break-even. The unit selling price for the product is A. $10 B. $17 C. $7.35 D. $10.50 E. $3.50 10) Some retailers price products at the value delivered by the product. True or false: Retailers such as Safeway should also consider setting a price below the variable cost for certain products. A. True B. False 1 1) AT&T offers a cable plan in the northeastern U.S. for $40/month with the cable plan experiencing an elasticity of -3. AT&T is considering offering the same cable plan in the western US. The firm knows elasticity of demand = -4 in the west. What price should be presented to customers in the west? A. Around $55 B. Around $51 C. Around $44 D. Around $35 412) Car manufacturers tend to use an exclusive distribution intensity because: A. It incentivizes higher service provisions B. It increases market coverage C. It allows multiple retailers to compete on price D. It decrease the cost associated with training the retailers E. None of the above 13) Advertisements on Facebook are considered as what type of media? A. Paid Media B. Owned Media C. Earned Media D. Viral Media E. None of the above 14) Please rank the following global marketing entry strategies from high risk and high market control to low risk and low market control: A. Direct Investment / Wholly Owned Subsidiary, Joint Venture, Exporting, Licensing B. Direct Investment / Wholly Owned Subsidiary, Joint Venture, Licensing, Exporting C. Joint Venture, Licensing, Direct Investment / Wholly Owned Subsidiary, Exporting D. Exporting, Licensing, Joint Venture, Direct Investment / Wholly Owned Subsidiary E. None of the above 15) Channels help reduce the number of contacts between manufacturers and consumers. What are other key benefits that channels provide to the manufacturer? A. Demand Fulfillment B. Demand Generation C. Post Sales Service D. Market Feedback E. All of the above 16) Total industry sales tend to peak during the Maturity stage of the product life cycle. In what stage of the product life cycle does total industry profits peak? A. Introduction B. Growth C. Maturity D. Decline E. Total profits never peak 5