1. Name the function of management being discussed above and give any one of its characteristics. 2. Also briefly discuss any five limitations the function discussed in the case
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Yamini a home science graduate from a reputed college has recently done a cookery course. She wished to start her own venture with the goal to provide ‘health food’ at a reasonable price. She discussed her idea with her teacher (|mentor) who encouraged her. After analyzing various options for starting her business venture, they shortlisted the option to sell ready-made and ‘ready-to-make’ vegetable shakes and sattu milkshakes. Then they both weighed the pros and cons of both the shortlisted options.
1. Name the function of management being discussed above and give any one of its characteristics.
2. Also briefly discuss any five limitations the function discussed in the case
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- AYC Shoes just started to develop their own line of custom sneakers. The company has asked you, as a consultant, to prepare a financial plan that includes the following: 1. Variable and fixed expenses for the shoe manufacturing (you can find this information by researching other shoe companies, such as Nike, Adidas, Puma, etc.) 2. Based on the expenses that the organization will have, determine the price that they should sell the shoes for. 3. After deciding on the pricing scale and using the expenses you determined in Question #1, determine the break-even point for the organization. As a consultant, help this start-up company determine their costs and the break-even point.Somerset Inc. has finished a new video game, Snowboard Challenge. Management is now considering its marketing strategies. The following information is available: Two managers, James Hamilton and Thomas Seymour, had the following discussion of ways to increase the profitability of this new offering: James: I think we need to think of some way to increase our profitability. Do you have any ideas? Thomas: Well, I think the best strategy would be to become aggressive on price. James: How aggressive? Thomas: If we drop the price to $60 per unit and maintain our advertising budget at $15,000,000, I think we will generate total sales of 2,000,000 units. James: I think that's the wrong way to go. You're giving up too much on price. Instead, I think we need to follow an aggressive advertising strategy. Thomas: How aggressive? James: If we increase our advertising to a total of $25,000,000, we should be able to increase sales volume to 1,400,000 units without any change…Pricing Q: What are different factors that should be considered by marketers before deciding price of the product? Q: How the total cost is determined/calculated by company for deciding price of the product? Q: What is breakeven point? How is it calculated? Q: How the net profit is calculated? Q: write the following procedures and formulas for calculating price? a. Cost Plus pricing b. Breakeven pricing c. Return on investment pricing d. Value based pricing Q: Write the methods for determining pricing of new products?
- Black is a brand dedicated to the manufacture of guitars, basses and musical accessories. They have physical stores in the main cities of USA and a new online sales platform with which they hope to reach much more public. Currently, they want to carry out an advertising campaign to boost the sales of their flagship product: the electric guitar. Black always uses good qualities in its products and sells at a very competitive price, but has not yet achieved the necessary recognition and hopes that this campaign will help it to consolidate and position itself properly among its public. Define the media strategy that you consider appropriate and the advertising formats you would use.Black is a brand dedicated to the manufacture of guitars, basses and musical accessories. They have physical stores in the main cities of USA and a new online sales platform with which they hope to reach much more public. Currently, they want to carry out an advertising campaign to boost the sales of their flagship product: the electric guitar. Black always uses good qualities in its products and sells at a very competitive price, but has not yet achieved the necessary recognition and hopes that this campaign will help it to consolidate and position itself properly among its public. Conduct a market research of the situation, perform a SWOT analysis and determine the target audience for the campaign.A small chain of bagel shops currently prices its bagels at $0.99 apiece. The manager of the chain recognizes the value of price segmentation and is considering how he might charge lower prices to his high-volume customers. A. Design an order-discount pricing structure that could accomplish this price segmentation. B. Design a cumulative-purchase discount structure to accomplish this price segmentation. C. Design a two-part pricing structure to accomplish this price segmentation. D. Would the manager have to choose among the three discount structures described in Parts (a) through (c), or would he be able to do all three? Justify your view on this.
- What factors are most likely to affect the demandfor the lines of Washburn guitars (a) bought by afirst-time guitar buyer and (b) bought by a sophisticated musician who wants a signature model?5- Airlines are known to jack up fares when peak travel season approaches, and they typically run their fare sales around slow seasons. This is an example of a ________ pricing strategy Group of answer choices everyday low pricing (EDLP) uniform premium high/low 6- Which of the following is NOT a goal of informative advertising? Group of answer choices inform customers about upcoming sales increase awareness explain how the product works build company image 7- A pricing strategy is Group of answer choices using one-time seasonal discounts to reduce inventory. a short-term approach to setting prices a long-term approach to setting prices in a companywide integrated effort using slotting allowances to gain access to distribution channels 8- I mentioned that the main tasks of advertising are to inform, remind, and persuade. At which stage of the product life cycle should the advertising focus on informing? Group of answer choices decline maturity…SARAH SPORTS AND RECREATION In 2003 Sarah established a company providing family focused sports and recreational facilities. It covers an area of 1700msq and offers a football pitch, two swimming pools, room hire and a kitchen. The initiative resulted from the combined passions of Sarah and her husband, who supported her from the beginning. Sarah’s husband was a keen lover of football and she herself was fond of swimming. Motivated by her education in health management and realizing the absence of any recreation facility for families in the rural area, Sarah identified an opportunity to generate an additional source of income. The venture had two phases of development. The first created a football pitch on land previously owned by the government. It took six months to develop the pitch as problems, including a lack of available workers and a delay in the import of grass from China hindered progress. The pitch started generating income in the form of hourly rental and later local…
- SARAH SPORTS AND RECREATION In 2003 Sarah established a company providing family focused sports and recreational facilities. It covers an area of 1700msq and offers a football pitch, two swimming pools, room hire and a kitchen. The initiative resulted from the combined passions of Sarah and her husband, who supported her from the beginning. Sarah’s husband was a keen lover of football and she herself was fond of swimming. Motivated by her education in health management and realizing the absence of any recreation facility for families in the rural area, Sarah identified an opportunity to generate an additional source of income. The venture had two phases of development. The first created a football pitch on land previously owned by the government. It took six months to develop the pitch as problems, including a lack of available workers and a delay in the import of grass from China hindered progress. The pitch started generating income in the form of hourly rental and later local…SARAH SPORTS AND RECREATION In 2003 Sarah established a company providing family focused sports and recreational facilities. It covers an area of 1700msq and offers a football pitch, two swimming pools, room hire and a kitchen. The initiative resulted from the combined passions of Sarah and her husband, who supported her from the beginning. Sarah’s husband was a keen lover of football and she herself was fond of swimming. Motivated by her education in health management and realizing the absence of any recreation facility for families in the rural area, Sarah identified an opportunity to generate an additional source of income. The venture had two phases of development. The first created a football pitch on land previously owned by the government. It took six months to develop the pitch as problems, including a lack of available workers and a delay in the import of grass from China hindered progress. The pitch started generating income in the form of hourly rental and later local…The airline industry alters the price of its seats based on the type of seat, the number of seats remaining, and the amount of time before the flight departs. This is example of: Select one: a. Basing-point pricing b. Zone pricing c. Dynamic pricing d. FOB-origin pricing Which of the following statements is correct? Select one: a. If the prices of the product are below its costs, profits will boost. b. The pricing strategy suggesting value to the customer and profit to company should be followed. c. If customers perceive that the product is over-priced, they are keener to buy it. d. If customers perceive that a product’s price is lower than its value, they will not buy it.