Marketing Management Assignment Problem set -
I. Marketing arithmetic - Show your work in answering the following math questions.
Q1. Chick-fil-A restaurants want to find out the lifetime value of their satisfied and highly satisfied consumers. A satisfied consumer visits Chick-fil-A 3 times a month and spends $9 each time. On average this type of consumer purchases products from Chick-fil-A for 4 years. A highly satisfied consumer visits Chick-fil-A 5 times a month and spends $12 during each visit. On average a highly satisfied consumer purchases products from Chick-fil-A for 8 years. Calculate the lifetime value of (i) a satisfied consumer; and (ii) a highly satisfied consumer (show your work step by step). What is the implication of this lifetime value calculation?
Q2. A manufacturer has invested $750,000 in a new product and wants to set a price to earn a 15 percent ROI. The cost per unit is $18 and the company expects to sell 50,000 units in the first year. Calculate the company's target-return price for this product.
Q3. A marketer wants to market a product. The unit variable cost for producing this product is $16. The fixed cost is $400,000. The marketer expects to sell 80,000 units of the product and wants to earn a 30 percent markup on sales. How much should the markup price be for this product?
II. Short answers - Every short answer question has a word limit of 70 words. In fact, for a few questions, an answer of 20-30 words is sufficient.
Q4. When a Mexican distillery offers rebates to its current customers, what growth strategy is the company using?
Q5. Mimi Couturier is a design company that specializes in formalwear for women. The company's fashion innovators use computer-assisted design software to create what they think women should wear. The company regularly hires industry experts to examine construction work areas to find waste and inefficiencies that can be eliminated. Its fashion innovators have expanded the number of products it offers for sale many times. However, for the last two years Mimi Couturier has lost money, and it has had to lay off some of its work force. What should the company do to avoid this occurrence in the future?
Q6. As a marketing researcher of Matrix Private Limited you have been asked to forecast the demand for your new range of body wash if a discount of 10 percent is offered on each unit sold. Identify the research category into which this market research falls, i.e., is this exploratory, descriptive, or causal research? Why?
Q7. Jane is a marketing researcher of a cellular service providing firm. She is conducting market research before the firm decides to launch its 4G services. After deciding on the research approach and instruments, what is the next step that Jane should follow? What decisions is she required to make in this step?
Q8. During the planning process, if there is a gap between future desired sales and projected sales, corporate management will need to develop or acquire new businesses to fill it. Identify and describe the three strategies that can be used to fill the strategic gap.
Q9. As a brand manager you would like to have your brand (brand name) be protectable. Explain what you mean by "protectable".
Q10. Nichepro Technologies, who were mainly into producing personal computers and laptops, have now decided to produce Nichepro health care products. Explain the branding strategy advocated by the company.
Q11. Kellogg's uses its corporate brand name with its individual product brands as with Kellogg's rice krispies, Kellogg's raisin bran, and Kellogg's corn flakes. Which branding strategy is being used by the company?
Q12. When Sony introduced the world's first high-definition television to the Japanese market in 1990, it was priced at $43,000. This helped Sony to scoop the maximum amount of revenue from the various segments of the market. The price dropped steadily through the years - a 28-inch Sony HDTV cost just over $6,000 in 1993, but a 40-inch Sony HDTV cost only $450 in 2014. What pricing strategy did Sony use here?
Q13. Indicate the differences and similarities between the following terms: marketing plan, strategic marketing plan, and tactical marketing plan.
III. Essays -
Q14. Dormentor Inc. produces, converts, and markets packaging products including boxboard, container board, and numerous other specialty packaging products. In an attempt to increase its organic growth, the company decides to introduce new products. It asks the managers and employees to send in ideas for new products. Before launching products based on any of these ideas, what are the stages that the company has to go through?
Q15. What is qualitative research? Why might it be useful to marketers? What are its major drawbacks?
Q16: Kansas City-based Hallmark Cards, Inc., is the "personal expressions" industry leader, selling nearly half of all greeting cards purchased in America. Joyce C. Hall founded the company in 1910. Since that time, the company's creative staff has grown to more than 740 in-house artists, designers, stylists, photographers, writers and editors who design nearly 30,000 products each year. It also has a very large marketing department which relies heavily on in-house marketing research as well as independent marketing research companies to develop and evaluate, not only ideas for its cards, but various segmentation bases.
A. Discuss two possible segments for Hallmark (based on two different segmentation variables). One segment must be based on a behavioral variable.
B. You have identified two segments in (1). Explain how you would evaluate the two segments. Discuss whether using the two segments would be profitable.
Q17: 'Consumer Reports' publishes the results of a study on shampoos that provides strong evidence that all shampoos are basically the same as far as the ability of cleaning the hair and scalp is concerned. After reading the report, what actions might you take if you are a high price shampoo marketer?
Q18. Read the following article "Takata Files for Bankruptcy" (attached in this set) and information included at the second website ("Massive Takata Airbag Recall"), and answer these questions: Analyze Takata Corporation's major actions based on updates from November 2014 to February 2018 provided at the second website. According to your analysis, what were the root causes for this "most complex consumer-safety recall in U.S. history" and "the largest automotive recall in U.S. history"?
Attachment:- Assignment File.rar