Exercise 1 – Market Research and Promotion
Exercise 1 – Market Research and Promotion
This exercise is designed to help you develop the skills required to complete the Term Report and other similar work in your other courses. It is an individual exercise because you all need to develop these skills. However, you can work on it in your groups because it is part of the hybrid part of the course; that is, you do it in the hour of outside class work that is part of your course time per week.
To assess whether you are developing these skills, I will mark this exercise and it amounts to 5% of your course mark as stated in the Outline. Give examples from the interenet to support to your answers.
1. Exporting companies must deal with a number of issues when researching new markets whether that market is a country or a region within a country. (20 marks)
a. Develop a list of 5 typical market research activities that could be self-managed by an exporting company looking at a new initiative in another country.
b. Then, identify a list of 5 activities that would typically be very difficult for them to undertake themselves (i.e., given the cultural, geographic and language barriers that are often present in distant markets).
c. For the activities that the firm cannot undertake themselves, what strategy should they employ to ensure that the proper marketing research has been done before any substantial money has been spent on the development of a marketing mix for that market?
d. What challenges would this present for the firm?
2. Your management team is currently reviewing your global business strategy and will soon decide whether to pursue a strategy of “market creation” vs. “market penetration”. Discuss how your approach to promotion and company messaging would be different for each of these strategies. (20marks)
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- It is late June, and Sandra Huchim, head of operations at Mintendo, and Bill Smith, head of salesof We “R” Toys, are about to get together to discuss production and marketing plans for the next6 months. Mintendo is the manufacturer of the popular Game Girl handheld electronic game that is sold exclusively through We “R” Toys retail stores. The second half of the year is critical toGame Girl’s success, because a majority of its sales occur during the holiday shopping period.Sandra is worried about the impact that the upcoming holiday surge in demand will have on herproduction line. Costs to subcontract assembly of the Game Girls are expected to increase, andshe has been trying to keep costs down, given that her bonus depends on the level of productioncosts.Bill is worried about competing toy stores gaining share in the handheld electronic game marketduring the Christmas buying season. He has seen many companies lose their share by failing tokeep prices in line with the performance of their products. He would like to maximize the GameGirl market share in the handheld electronic game market.Both Sandra’s and Bill’s teams produce a joint forecast of demand over the next six months, asshown in Table 9-7.We “R” Toys sells Game Girls for $50 apiece. At the end of June, the company has an inventoryof 50,000 Game Girls. Capacity of the production facility is set purely by the number of workersassembling the Game Girls. At the end of June, the company has a workforce of 300 employees,each of whom works 8 hours of regular time at $15/hour for 20 days each month. Work rulesrequire that no employee work more than 40 hours of overtime per month. The various costs areshown in Table 9-8.Sandra, concerned about controlling costs during the periods of surging demand over theholidays, proposes to Bill that the price be lowered by $5 for the month of September. Thiswould likely increase September’s demand by 50 percent due to new customers being attractedto Game Girl. In addition, 30 percent of each of the following two months of demand wouldoccur in September as forward buys. She believes strongly that this leveling of demand will helpthe company.Bill counters with the idea of offering the same promotion in November, during the heart of thebuying season. In this case, the promotion increases November’s demand by 50 percent, owingto new customers being attracted to Game Girl. Additionally, 30 percent of December’s demandwould occur in November as forward buying. Bill wants to increase revenue and sees no betterway to do this than to offer a promotion during the peak season.a. Which option delivers the maximum profit for the supply chain: Sandra’s plan, Bill’splan, or no promotion plan at all?b. How does the answer change if a discount of $10 must be given to reach the samelevel of impact that the $5 discount received?c. Suppose Sandra’s fears about increasing outsourcing costs come to fruition and thecost rises to $22/unit for subcontracting. Does this change the decision when thediscount is $5? need to be able to explain how i got the answer not necessary to show all work but this one is giving me fits.
- Write at least two paragraphs for 1, 2 and 3 and use a reference. For number 4, simply construct a reply to the other students' post. 1. With DHL promising increased competition in the US express package (integrated carrier) industry, various stakeholders would greet this prospect quite differently. In this discussion forum, address the following: Choose one of these stakeholder groups and explain from their perspective why you oppose or support the entry of DHL in the US domestic market: Federal, state and/or local government FedEx and UPS management and employees DHL management and employees Labor unions and package shippers Use the theories of various market structures to support your postings. 2. Describe at least one example of a firm that is using dynamic pricing to increase revenue. Be as specific as possible. 3. Supply chain-related electronic auctions have been increasing in sophistication and popularity over the years. Using the Internet, briefly describe at least one firm that offers electronic supply chain-related auctions and summarize the services they offer. Also, please share their Internet address with your classmates. 4. REPLY TO: Based on your own experience or research, briefly describe at least one example of a public or private enterprise that has outsourced the management of one or more of its supply chain related activities. Include in your answer the name of the firm, the name of the third party, and a brief statement regarding the benefits claimed. In your opinion, what are the downside risks? An example from my experience where a public or private enterprise that has outscored the management of one or more of its supply chain related activities is the Department of Defense. In order to meet mission requirements the agency moves hundreds of thousands of service members annually. While the government maintains oversight of the program, it has outsourced transportation management to private industry. The government works with hundreds of transportation vendors to provide traffic services/management on a shipment by shipment basis. Industry then takes those shipments, combines them with several others, and delivers economy/competitive pricing. It would be too expensive for the government to maintain the fleet necessary to provide these services cost effectively. The benefits are that the government can work with private enterprise to achieve cost savings, while helping the economy through working with business. The downside risk of working with private enterprises is that the government is exposing itself to supply chain risk. These risks can be as simple as one vendor who has cash flow/debt issues, to port congestion problems delaying shipments from arriving on time. A good example of these risks was when the government changed the contractor for moving privately owned vehicles of service members. Many vehicles were lost and delayed sue to inexperience and poor time of contractor change (seasonal business) related to peak demand (link to article below). Chapter 15: Sourcing Decisions in a Supply Chain 1. After reviewing the last three lines of Table 15-4 in your text, as the buy-back price for each disc increases from $0 to $6 while the wholesale price is held constant at $7, what happens to profits for the music store (the retailer) and the supplier (the manufacturer)? What about overall supply chain profitability? What is the lesson to be learned from this exercise? The information presented in Table 15-4 assumes that there are no costs associated with returning the “buy-back” products to the supplier. As the transportation costs to return the goods being bought back increases, what happens to the profitability of the supply chain? Chapter 16: Pricing and Revenue Management in a Supply Chain 2. Right click and download the Pricing to Multiple Segments data to your hard drive. What happens to prices and profitability when the sensitivity for customers that are willing to wait (i.e., segment 2) increases from 40p1 to 80p1? What did you learn from this exercise? Note: Use the “Solver” capability under the ”Tools” menu (but you must set sensitivity in cell C6 to desired level before you run “Solver”). 3. Right click and download the Dynamic Pricing DataPreview the documentView in a new window to your hard drive. What happens to the quantity purchased and profitability if the price sensitivity increases to from 1.8p3 to 1.9p3 in the third period? What did you learn from this exercise? Note: Use the “Solver” capability under the ”Tools” menu (but you must set sensitivity in cell C8 to desired level before you run “Solver”).
- Assume the role of Marketing Manager. Select a product (good or service) that is sold in the United States and has sales opportunities in a foreign market. Apply your critical thinking skills and the knowledge you have acquired throughout this course and address the following in your Final Paper: Describe the product you selected in terms of the four utilities of customer value. Identify the product’s target market at home and in your stated foreign market. Indicate the competition of the product category in both home and foreign markets. Explain how you would apply the segmentation, targeting, and positioning (STP) approach to market the product in the foreign market. Discuss the major environmental facts and trends in the foreign markets that might affect sales of the product. Explain how you would develop, execute and measure a campaign for this product considering the four p’s (product, price, promotion, and place). Discuss the U.S. and international ethical marketing considerations.
- Question: Q: Chapter Chapter 11 of Mertler and Vannata; answer exercises on pages 306 and 307: This exercise utilizes the SPSS data setprofile-e.sav, which can be downloaded from this Web site: www.Pvrczak.com/data Conduct a Forward: LR logistic regression analysis with the following variables: IV—age, educ, hrsl, sibs, rincom91, life2 (categorical) DV—satjob2 Note: The variable Iife2 is categorical such that dull = 1, routine/exciting = 2, and all other values are system missing. Develop a research question for the following scenario. Conduct a preliminary Linear Regression to identify outliers and evaluate multicollinearity among the five continuous variables . Complete the following: a. Using the Chi-Square table in Appendix B, identify the critical value atp< .001 for identifying outliers. Use Explore to determine if there are outliers. Which cases should be eliminated? b. Is multicollinearity a problem among the five continuous variables? Conduct Binary Logistic Regression using the Forward: LR method. IV—age, educ, hrsl, sibs, rincom91, life2 (categorical; last is the reference category) DV—satjob2 Note: Make sure that any outliers identified in Exercise 2a are removed from data before running the logistic regression. Also, designating life2 as a categorical covariate with the last category as the reference, essentially makes "routine/exciting" = 0 and "dull" = 1, so interpret the results accordingly. a. Which variables were entered into the model? b. To what degree does the model fit the data? Explain. c. Is the generated model significantly different from the constant-only model? d. How accurate is the model in predicting job satisfaction? e. What are the odds ratios for the model variables? Explain. Module 14 – Multi-level linear analyses: When do you use multi-level linear analyzes? Chapter 8 of Cronk (chapter below I wasn’t sure what was being asked) and answer all practice exercises; post your results here:
- Article Review Order Description For this assignment, you will select a research study and write a review/critique. You should provide an overview of the research study, including how the research was conducted and a summary of the findings. Then, you should provide your thoughts on article. What were the strengths of the study? What were the limitations of the study? Attached, you will find a research study/article tracking sheet. You may find this helpful as a way to outline your ideas before writing your review/critique. Also, these are several article review/critique samples: https://www.westga.edu/~kielborn/studentexample.html https://www.sagepub.com/eic/14/Chapter14_Critique2.pdf Article 5 The Nuts and Dolts of Teacher Images in Children’s Picture Storybooks: A Content Analysis References Sandefur, S.J., Moore, L. (2004). The nuts and dolts of teacher images in children’s picture storybooks: A content analysis. Education, 125, 41-55. Sample/ Population 62 children’s books and 96 images of teachers (Titles provided) Purpose How are teachers portrayed in the narratives and images found in children’s storybooks? Hypothesis – a propensity of images painting teachers in an unflattering light may have broader consequences on cultural perceptions of teachers and schooling. Children’s storybooks are not benign. Procedure/ Methodology/Study Type Qualitative – Ethnographic content analysis Variables/Instrumentation/ Definitions Findings Research Parameters – Teacher representation based upon: appearance, language, subject, approach, and effectiveness. Absence of data also noted. Inter-rater used to validate findings. Ethnographic Content Analysis – requires a reflexive and highly interactive relationship between researcher and data with the objective of interpreting and verifying the communication of meaning (34). Apprenticeship-of Observation – images and stereotypes acquired from a person’s experience with literature and media (33). Inter-rater – Professional who works independently of other researchers to validate findings (35). • Teacher in children’s picture storybooks is overwhelmingly portrayed as a white, non-Hispanic woman. • The teacher who is sensitive, competent, and able to manage a classroom effectively is a minority. • The teacher is static, unchanging, and flat. • Teacher is polarized. • Teacher does not inspire the pursuit of critical inquiry (32 – 36). “If those images children and parents see of ‘teacher’ are generally negative, then they will create a ‘world view’ of ‘teacher’ based upon stereotype” (33). “Teachers cannot effectuate positive change in their profession unless and until they are aware of the internal and external influences that define and shape the educational institution” (37). Children’s book list is provided. Detailed report on findings with specific titles used as examples. Limitations Further Research Abstract and purpose was multifold and at times disjointed. Appeared to be strong predisposition toward finding negative stereotypes before research is completed. How are educators portrayed in more advanced literature or in other cultural media genres? Do teachers in other countries face the same stereotyping? What has been the progression over time of teacher images? Promising related references:
