Evaluate the four levels of a product:
There are four levels of a product: core, tangible, augmented, and promised Which of the following represents an intangible product?
Applied Decision Method
. Consider the following payoff table that represents the profits earned for each alternative (A, B, and C) under the states of nature S1, S2, and S3.
S1 S2 S3
A $60 $145 $120
B $75 $125 $110
C $95 $85 $130
Using the criterion of realism and an alpha value of 0.7, what would be the highest expected payoff?
2. Consider the following payoff table that represents the profits earned for each alternative (A, B, and C) under the states of nature S1, S2, and S3.
S1 S2 S3
A $60 $145 $120
B $75 $125 $110
C $95 $85 $130
Using the maximax criterion, what would be the highest expected payoff? (Points : 3)
3. A plant manager is considering buying additional stamping machines to accommodate increasing demand. The alternatives are to buy 1 machine, 2 machines, or 3 machines. The profits realized under each alternative are a function of whether their bid for a recent defense contract is accepted or not. The payoff table below illustrates the profits realized (in $000’s) based on the different scenarios faced by the manager.
Alternative Bid Accepted Bid Rejected
Buy 1 machine $10 $5
Buy 2 machines $30 $4
Buy 3 machines $40 $2
Refer to the information above. Assume that based on historical bids with the defense contractor, the plant manager believes that there is a 65% chance that the bid will be accepted and a 35% chance that the bid will be rejected.
What is the expected value under perfect information (EVPI)? (Points : 3)
Discuss on Marketing Ethics: Advertising And Product Placement
Identify the statement that provides a reason why manipulation of consumers is not relevant to marketing ethics:
A) Knowing consumers’ psychological profiles through marketing research, their motivations, interests, desires, beliefs, anxieties and fears facilitates manipulation of their behavior.
B) Some marketing practices target populations that are particularly susceptible to manipulation and deception.
C) One need not necessarily deceive a person in order to manipulate him or her.
D) Manipulation doesn’t necessarily entail total control over a person; it may simply be a process of subtle direction or management.
E) All of the above.
F) None of the above.
2
Select the practice that is not a form of consumer manipulation:
A) Cigarette advertising aimed at children.
B) Ads aimed at elderly population for such goods as medicare supplementary insurance, casinos and gambling, nursing homes, and funeral services.
C) Researching the criteria that a typical buyer uses to select a particular make and model of automobile.
D) Selling an extended automobile warranty or theft protection products to a customer who is anxious about the whole process of buying an automobile.
3
What statement suggests that the Johnson and Johnson Tylenol ad stating that “last year hospitals dispensed 1times as much Tylenol as the next four brands combined” was suspiciously deceptive?
A) It was a simple statement of a valid claim about the product.
B) It was an effort to call attention to the practice of selling the drug to hospitals at a deep discount.
C) Johnson and Johnson wanted consumers to think that the medical profession and hospitals believed it was the most effective acetaminophen treatment on the market.
D) Johnson and Johnson wanted to show its commitment to lowering medical costs to consumers.
4
Identify the statement that would not support the idea that determining precise standards for what constitutes deception and how best to regulate it is problematical:
A) The primary ethical wrong is in the intent to deceive, to intend to use someone’s buying behavior for one’s own ends. To prevent this wrong from occurring, the Federal Trade Commission (FTC) would have to punish on the basis of what it thinks a marketing practice will do to consumers rather that what it actually does to them.
B) It is enough to prevent beforehand harms that deceptive practices might do rather than regulate them after the harms have been done.
C) Regulation might be too strong because it may well turn out that consumers are deceived by relatively trivial marketing practices.
D) Regulation might be too weak if it places the burden on consumers to prove the deception.
5
Select the statement that correctly describes the dependence effect derived from John Kenneth Galbraith’s ideas on consumer affluence:
A) Consumers depend on the free market to learn about the products they may need and want.
B) Supply follows and depends on demand; consumers are only getting what they want.
C) Consumer demand depends on what producers have to sell. Demand is a function of supply. Advertising creates wants.
D) Owners of productive capital depend on giving consumers what they want; otherwise they would lose their investment.
6
If consumers are being manipulated by advertising, what are some key ethical implications?
A) Individual autonomy, the central element of Kantian respect for persons, would be violated by the creation of wants.
B) If consumers pursue trivial and contrived products, market exchanges only appear to increase overall satisfaction.
C) Consumer autonomy is violated by advertising’s ability to create nonautonomus desires.
D) The economy of the affluent society is contrived and distorted.
E) All of the above.
F) None of the above.
7
Identify the statement that does not challenge Robert Arrington’s argument that because marketing doesn’t prevent us from renouncing our pre-existing and independent choices, our desires for them must be considered autonomous:
A) Gerald Dworkin’s point that if an individual does not or cannot rationally reflect on a first-order desire (one he or she just happens to have at any time), then the fact that he or she doesn’t renounce it does not prove conclusively that it is an autonomous desire.
B) Dworkin’s further claim that autonomy is a second-order capacity of persons to reflect critically on first order preferences and the capacity to accept or change them in the light of higher order preferences and values.
C) Roger Crisp’s claim that we need to know why a first-order desire is accepted, and if not renounced, if it is indeed independent from, say, advertising.
D) Even if some consumer choices are not autonomous, nothing in Dworkin’s or Crisp’s analysis shows that advertising is responsible for violating autonomy, only that some consumers do not act in a fully self-conscious way.
8
Select the statements reflecting the general sense of vulnerability that is relevant to target marketing:
A) A person is vulnerable as a consumer because he or she is unable in some way to participate as a fully informed and voluntary participant in the market exchange.
B) A person is vulnerable because he or she is the typical customer for a particular product.
C) A person is vulnerable because he or she is susceptible to some physical, psychological or financial harm other than the financial harm from an unsatisfactory market exchange.
D) A person may be seen as vulnerable because he or she belongs to some ethnic group, or is poor, or is a resident of a particular neighborhood.
E) Answers A and B are correct.
F) Answers A and C are correct.
Which of the following are the three broad groups of consumer segmentation criteria?
Which of the following are the three broad groups of consumer segmentation criteria?
1
Which of the following are the three broad groups of consumer segmentation criteria?
A) Geographic, demographic and behavioural variables
B) Behavioural, psychographic and profile variables
C) Behavioural, demographic and profile variables
D) Psychographic, demographic and behavioural variables
E) Psychographic, sociological and geographic variables
2
What is the purpose of segmentation?
A) To identify differences in behaviour that have implications for marketing decisions
B) To identify the most profitable consumer segments
C) To target segments that are not targeted by competitors
D) To target segments which match our product/service attributes
E) To target and identify segments which are not catered for at all
3
In the UK social class is usually measured according to which of the following?
A) Occupation
B) Wealth
C) Background
D) Education
E) Residence
4
Which of the following is not a useful base for segmenting organisational markets?
A) By industry
B) By geographic location
C) By individuals within a DMU
D) By purchasing organisation
E) All of the above are useful bases for segmenting organisational markets
5
A company who develops a single marketing mix for the whole market and doesn’t segment the market uses which of the following marketing strategies?
A) Niche Marketing
B) Differentiated Marketing
C) Undifferentiated Marketing
D) Customised Marketing
E) Focused Marketing
6
A differentiated target marketing strategy exploits which of the following?
A) Exploits the differences between marketing segments
B) Exploits the differences between competitors prices
C) Exploits the apathy of consumers
D) Exploits the new trends, fads and fashion
E) Exploits consumer’s value consciousness
7
A target market is sometimes called which of the following?
A) A focus
B) A niche
C) A division
D) An area
E) A sector
8
Discuss the Marketing Questions
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Discuss on FREIGHT FORWARDING: Global Freight Management
due on July 29th.
read all the instruction carefully and follow them, plagiarism free plz!!!!!
i need at least 90% grade(A or A+), assure very good quality
INTL233: FREIGHT FORWARDING:
Global Freight Management Assignment M’17
Due Week 13 (beginning of class) – 20%
Alice Johnson is materials and distribution manager for Global Logistics Enterprises. She is responsible for all transportation, distribution, materials, and purchasing for her firm.
Alice’s company has just been awarded a new contract that will involve moving medicines from Toronto to Northern Nigeria in the area of conflict with Boca Harum to be delivered to Medicin Sans Frontier (Doctors Without Borders). She has hired your organization as her freight forwarding consultant and agent. You have identified two transportation choices:
1) move the freight by water, which takes 45 days, and
2) move it by air, which only takes 4 days, door to door.
The relevant costs in Susan’s decision are as follows:
· freight by water is $1650 with delivery to the dock in New York costing $385 and pier to plant delivery in the Middle East of $225. The air move would be $3,850 for door-to-door service
· documentation using the water mode would be $185 whereas the air move would cost $255 insurance by water would cost $780 per move; with air it would be $260
· packing and crating by water would be $666 per shipment; with air it would only involve stretch wrapping a special set of pallets for a total cost of $120
· the company hurdle rate (opportunity cost of capital) is 10%
· the value of the goods is $1,500,000 per shipment
Questions
1. Introduce the project by creating a Freight Consulting Company, writing an introductory letter and a MARKETING document that fully outlines the company background and credentials that qualify you for the role of freight consultant to assist Alice.
2. Calculate are the total costs of each method of shipping?
a. Without the holding costs (opportunity cost of capital)?
b. Including the opportunity cost of capital?
3. Fully outline the other criteria you would consider to ensure the product’s safe arrival (packaging, insurance & government partnerships with respect to security, TDG? What other government departments are involved?
4. Research the most appropriate routes and all modes that will be used in each case and outline them on a map. Select your mode/route and fully justify your decision on mode(s)?
5. Explain the recommended INCOterm and transportation payment terms would you recommend for Global. Justify your answer. Complete the accompanied ICC Model Contract for the transaction and explain your decisions in it. Append the completed contract to your paper.
6. Outline all documentation would needed to support the transaction and ensure she gets paid. Complete full price (estimated) quotation and a full set of relevant documents and append these to the report. (due week 13)
Marking Rubric
Discuss on Alcohol Advertising
Overview: Research the material regarding the history and regulation of alcohol advertising. Also read and click on the article link below, Diageo; Study Finds Self-Regulation of Alcohol Advertising Is Working, and watch this link to the Milton Freidman interview: Milton Friedman-Regulation in a Free Society.
Diageo:
Links: https://www.ftc.gov/sites/default/files/documents/reports/self-regulation-alcohol-industry-federal-trade-commission-report-congress/1999_alcohol_report.pdf
In your paper, answer the following questions:
- A) Were the alcoholic beverages Spyke and Wide-Eye bad products? Justify your answer.
- B) Do you think these products were marketed in objectionable or misleading ways? Explain your answer.
- C) If you were in charge of marketing Spyke and Wide-Eye, what approach would you have taken to promote the products, while mitigating the adverse publicity associated with them?
- D) Do you believe there is a need for government to place more restrictions on alcohol advertising? Why or why not? If so, what limits are needed and how would any restrictions that you propose meet the Central Hudson guidelines?
Paper Requirements:
12-font, Times-New Roman, One-inch margin, 1 to 2 page short paper with scholarly references, APA style.
ASSIGNMENT DUE DATE WEDNESDAY 9/20/17 @5:00 PM
Overview: Research the material regarding the history and regulation of alcohol advertising. Also read and click on the article link below, Diageo; Study Finds Self-Regulation of Alcohol Advertising Is Working, and watch this link to the Milton Freidman interview: Milton Friedman-Regulation in a Free Society.
Diageo:
Links: https://www.ftc.gov/sites/default/files/documents/reports/self-regulation-alcohol-industry-federal-trade-commission-report-congress/1999_alcohol_report.pdf
In your paper, answer the following questions:
- A) Were the alcoholic beverages Spyke and Wide-Eye bad products? Justify your answer.
- B) Do you think these products were marketed in objectionable or misleading ways? Explain your answer.
- C) If you were in charge of marketing Spyke and Wide-Eye, what approach would you have taken to promote the products, while mitigating the adverse publicity associated with them?
- D) Do you believe there is a need for government to place more restrictions on alcohol advertising? Why or why not? If so, what limits are needed and how would any restrictions that you propose meet the Central Hudson guidelines?
Paper Requirements:
12-font, Times-New Roman, One-inch margin, 1 to 2 page short paper with scholarly references, APA style.
ASSIGNMENT DUE DATE WEDNESDAY 9/20/17 @5:00 PM
What is wrong with the marketing assistant’s segmentation of the market?
- Topic 1: Segmentation
Segmentation is crucial in order to match the product to the needs and wants of the appropriate group of potential customers.
Scenario: A new product service company’s marketing assistant tells his boss that the market segment for a new ergonomic chair is sedentary adults.- What is wrong with the marketing assistant’s segmentation of the market? Explain.
- Unit 6 Discussion Topic 2Discussion Topic
Topic 2: Customer Loyalty
The customer decision process is shown in your text in Exhibit 6.3 in Chapter 6. But exactly how does the consumer experience effect loyalty? You will discuss these concepts in addressing the following:- What company has earned your loyalty and how did they earn it? (You can just put the general product instead of any company name.)
- Topic 1: Segmentation
Segmentation is crucial in order to match the product to the needs and wants of the appropriate group of potential customers.
Scenario: A new product service company’s marketing assistant tells his boss that the market segment for a new ergonomic chair is sedentary adults.- What is wrong with the marketing assistant’s segmentation of the market? Explain.
- Unit 6 Discussion Topic 2Discussion TopicTopic 2: Customer Loyalty
The customer decision process is shown in your text in Exhibit 6.3 in Chapter 6. But exactly how does the consumer experience effect loyalty? You will discuss these concepts in addressing the following:- What company has earned your loyalty and how did they earn it? (You can just put the general product instead of any company name.)
Evaluate on Organizational Leadership
Read the five different upcoming positions for which your group has been tasked at filling.
As part of the Succession Plan Committee, your team has been tasked with identifying future leaders for the following four positions that will be open over the next 12-24 months:
Position 1: Sales Director, Middle East
Location: Saudi Arabia
Answers to: Executive Director, Asia Division
Biotech’s Asia Division will be opening its first Middle East location in Saudi Arabia in the next 12 months. A Sales Director will be needed to head up this new division. A team of local salespeople will need to be recruited, hired, and trained by this leader. It is expected that this sales team may be largely men.
Two sources that are recommended for more information about doing business in Saudi Arabia are:
Guide to Saudi Arabia Etiquette, Customs, Culture, and Business
Saudi Arabia Management Guide
Position 2: Director of Research and Development (R&D)
Location: Headquarters, Yonkers, NY
Answers to: VP of Headquarter Operations
R&D is at the heart of Biotech’s success and, indeed, its future. The leader of Research and Development will lead a group of scientists and innovators, but does not need to be a scientist himself/herself. R&D is located centrally at Biotech Headquarters because R&D coordinates with all other departments and divisions. This is a high profile position.
Position 3: VP of Headquarter Operations
Location: Headquarters, Yonkers, NY
Answers to: President and CEO
The Headquarters houses R&D, HR, IT, Purchasing, and Finance. Each of these departments has its own “subculture”, and each department is fairly distinct from each other. The young, youthful subculture of IT often clashes with the conservative subculture of the Finance department, for example. Many of the members of the Finance and HR teams are baby boomers and are near retirement. This leader oversees the smooth operation of all of these departments and ensures the coordination of these departments with each other and with each of the four geographic divisions across the world.
Position 4: Executive Director, North American Division
Location: Chicago, Illinois
Answers to: President and CEO
This leader will head up the largest and most profitable division of Biotech. This division is seen as the “flagship” by the other divisions, since Biotech’s roots are in the United States. This Executive Director has the “ear” of the CEO, and spends a lot of time with the Barney family. This leader is faced with spearheading the future direction of Biotech in North America and is challenged with filling openings throughout the United States and Canada caused by fast growth and a retiring Baby Boomer population.
Position 5: Director of Finance
Location: Headquarters, Yonkers, NY
Answers to: Chief Financial Officer
This leader oversees the day-to-day operations of the finance department. This leader is expected to aid in strategic planning with the executive team of Biotech. Although a finance background is not required, this person is expected to bring a conservative approach to the strategic planning table, to balance out the high risk tolerance of the rest of the leadership at Biotech. A “big picture” perspective is definitely needed here.
Discuss on Marketing Management
Read the five different upcoming positions for which your group has been tasked at filling.
As part of the Succession Plan Committee, your team has been tasked with identifying future leaders for the following four positions that will be open over the next 12-24 months:
Position 1: Sales Director, Middle East
Location: Saudi Arabia
Answers to: Executive Director, Asia Division
Biotech’s Asia Division will be opening its first Middle East location in Saudi Arabia in the next 12 months. A Sales Director will be needed to head up this new division. A team of local salespeople will need to be recruited, hired, and trained by this leader. It is expected that this sales team may be largely men.
Two sources that are recommended for more information about doing business in Saudi Arabia are:
Guide to Saudi Arabia Etiquette, Customs, Culture, and Business
Saudi Arabia Management Guide
Position 2: Director of Research and Development (R&D)
Location: Headquarters, Yonkers, NY
Answers to: VP of Headquarter Operations
R&D is at the heart of Biotech’s success and, indeed, its future. The leader of Research and Development will lead a group of scientists and innovators, but does not need to be a scientist himself/herself. R&D is located centrally at Biotech Headquarters because R&D coordinates with all other departments and divisions. This is a high profile position.
Position 3: VP of Headquarter Operations
Location: Headquarters, Yonkers, NY
Answers to: President and CEO
The Headquarters houses R&D, HR, IT, Purchasing, and Finance. Each of these departments has its own “subculture”, and each department is fairly distinct from each other. The young, youthful subculture of IT often clashes with the conservative subculture of the Finance department, for example. Many of the members of the Finance and HR teams are baby boomers and are near retirement. This leader oversees the smooth operation of all of these departments and ensures the coordination of these departments with each other and with each of the four geographic divisions across the world.
Position 4: Executive Director, North American Division
Location: Chicago, Illinois
Answers to: President and CEO
This leader will head up the largest and most profitable division of Biotech. This division is seen as the “flagship” by the other divisions, since Biotech’s roots are in the United States. This Executive Director has the “ear” of the CEO, and spends a lot of time with the Barney family. This leader is faced with spearheading the future direction of Biotech in North America and is challenged with filling openings throughout the United States and Canada caused by fast growth and a retiring Baby Boomer population.
Position 5: Director of Finance
Location: Headquarters, Yonkers, NY
Answers to: Chief Financial Officer
This leader oversees the day-to-day operations of the finance department. This leader is expected to aid in strategic planning with the executive team of Biotech. Although a finance background is not required, this person is expected to bring a conservative approach to the strategic planning table, to balance out the high risk tolerance of the rest of the leadership at Biotech. A “big picture” perspective is definitely needed here.
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