Principles Of Marketing
Principles Of Marketing
17th Edition
ISBN: 9780134492513
Author: Kotler, Philip, Armstrong, Gary (gary M.)
Publisher: Pearson Higher Education,
Bartleby Related Questions Icon

Related questions

Q: Briefly describe the disadvantages of Word of mouth promotion.
A: Word-of-mouth advertising is an approach to spreading the news a little about your entrepreneur.…
Q: Write a Personals Advertisement for yourself(yes, I am old...just pretend it is for a dating app!).…
A: I'm someone who loves the simple things in life, and I find joy in the little moments that make up…
Q: Panasonic the high-definition TV ads in the United States are different from the ones broadcasted in…
A: In the business sector, international marketing is similar to being a versatile representative who…
Q: . Chapter 17 discusses how mobile apps are often used in omni-channel shopping. Brainstorm some…
A: Omni channel shopping is one of the multiple channel sales in which customers can shop…
Q: 7 Which of the following is a way advertising targets consumers based on gender? Advertisements…
A: The advertisement always have certain target customers on whom they want to focus and from which…
Q: The product name: Al Doll Sarah Company name: Sarah Al's Purpose of product: to help shy kids who…
A: Al Doll Sarah is a humorous artificial intelligence companion developed to assist shy youngsters…
Q: 6 To understand which items were most likely to sell from mall kiosks, a company distributed surveys…
A: Research methodology is a systematic approach for gathering, observing, and evaluating data or…
Q: Can you answer the following questions please – (1)What is promotion and what role it plays within…
A: A marketing mix is a strategic instrument that benefits the advertising of the products of the…
Q: What does Vans do to ensure that its print ads fit the publications in which they appear?
A: Marketing strategy is the aspect of marketing that deals with strategies or the organization…
Q: what is the structure to write a Maketing Campaign ?
A: The marketing campaign plan is considered a temporary communication system as a way to use different…
Q: Mercedes has launched a new advertising campaign using …………. Component that consists of the…
A: Attitudes: Attitudes represent our assessment, choices, or rejections based on the knowledge we…
Q: And based on the information learned, try to decide and identify the following: - a) Your…
A: Assignment-
Q: 1. What is actually tthe thread promotion and what is the relationship with Marketing Mix? 2. How…
A: Thread promotion has evolved as a powerful tool for businesses to engage with their target audience,…
Q: Explain working of following e-Marketing techniques – adopted in e-Business promotion. (a)…
A: The dynamic combination of both disciplines in the field of online marketing is known as…
Q: Comparison of Competitve Advertisements: Samsung vs Apple What is the “big idea” behind each…
A: Introduction :- Before diving deep and understanding the big Idea behind each advertisement. let us…
Q: Explain what “bait and switch” is.
A: Ans. 1.) Introduction  Bait and switch is an ethically suspect deals strategy that draws clients in…
Q: e ultimate goal for the Atlanta Hawks public relations professionals is to cultivate the most…
A: A marketing strategy is a blue print designed by the organization to identify and plan its…
Q: Please simply answer this easy question
A: Sales promotion is one component of a company's promotion strategy for increasing brand recognition…
Q: Comparison of Competitve Advertisements: Samsung vs Apple What is the purpose /objective of each…
A: Marketing is the primary activity for any company along with production because they will help to…
Q: 1. What is the product being advertised? 2. What does the advertisement say about the produc 2 What…
A: Advertising has a strong power to change the thinking and actions of customers. When used for…
Q: what is the purpose of the following advertisenment? MEXICAN CHILI SAUCE EXTRA HOT! to sell chili…
A: Advertising is the part of marketing communication. It is done so as to make customer aware about…
Question
Please ans these 2 paragraph Since meena hasent advertised very heavily..... Keon is also thinking of expanding from Google to social media....
52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100 101 102 103 104 105 106 107 108 4G B 21:33 Is с D E F After Keon mentions that he has a mechanic friend, Bill, who would be looking at the cars before any deal was finalized, Meena admits that one of the limos needs a $3,000 repair. She has been considering selling the vehicle as is and upgrading to an oversized luxury limousine. When Keon asked if she had an idea how high the as-is price may be, Meena hesitated and said she wasn't sure. Keon described the issue to Bill and he advised that a $30,000 price was a reasonable in the current market. Revenue per weeknight, January through December Revenue per weekend night, January through May Revenue per weekend night, June through August Revenue per weekend night, September through December Operating expense per weeknight Operating expense per weekend night Maintenance expense, quarterly Cleaning expense, weekly 81669 Keon has searched around for oversized limos and he thinks the best approach would be to buy a used one for $70,000. Keon believes he can generate revenues 33% higher than a regular limo. However, the cleaning, maintenance, and operating costs of the larger limo would be 25% higher than the smaller vehicles are currently incurring. Keon wants a detailed cost-volume-profit analysis on the oversized limo, as he believes there is more opportunity with pricing and business strategy here compared to the regular limos. Keon has asked Meena about pricing and costing of the limo services and has made his own plans, should he acquire the business. In terms of budgeting resources, Keon is planning to use two limos for regular customers and the other two for non-regulars. Here is a detailed breakdown of non-regular customer averages for a single limo (weeknights are Monday through Thursday): G $190 236 259 241 104 132 320 100 H Keon can currently borrow up to $150,000 at a 5.50% rate. In addition to the $70,000 in a trading account, Keon has a $10,000 balance in his checking account. He feels that this money could comfortably last him three months as his living expenses are quite low. Since Meena hasn't advertised very heavily (she currently pays $300 a month for advertising on Google and $150 a month for a small spot in the local paper), Keon is thinking of adding some more aggressive marketing. He believes that paying for a trio of large billboards around the city could boost annual sales by 25% (with proportional increases in vehicle costs). Each billboard would have an initial cost of $1,000, followed by $500 monthly. Keon is also thinking of expanding from Google to social media. He estimates that if he spends $1,000 a month on social media, he would be able to increase limo rental prices by 10% and not suffer any drop in sales volume. However, Keon wants to make sure that his advertising strategy is ethical and tasteful. He is looking for advice on the best marketing strategy given his industry and his limited budget. Keon hasn't made a budget yet, but wants help with this as well as advice on performing budgetary analysis in a small business. Keon has discussed this business idea with Sheri, a dear friend of his. Sheri has been employed as a limo driver in the past but is currently working as a Lyft and DoorDash driver. In discussion with Keon, she grew excited and mentioned she would love to work with him. Since one of the current drivers is retiring, Keon believes he can hire her on a part-time basis for $20,000 a year. Based on current numbers (with no driver on salary), this would be a 8% reduction in operating cost for one limo. However, Keon wants more advice on hiring Sheri on salary versus paying her hourly.
expand button
Transcribed Image Text:52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100 101 102 103 104 105 106 107 108 4G B 21:33 Is с D E F After Keon mentions that he has a mechanic friend, Bill, who would be looking at the cars before any deal was finalized, Meena admits that one of the limos needs a $3,000 repair. She has been considering selling the vehicle as is and upgrading to an oversized luxury limousine. When Keon asked if she had an idea how high the as-is price may be, Meena hesitated and said she wasn't sure. Keon described the issue to Bill and he advised that a $30,000 price was a reasonable in the current market. Revenue per weeknight, January through December Revenue per weekend night, January through May Revenue per weekend night, June through August Revenue per weekend night, September through December Operating expense per weeknight Operating expense per weekend night Maintenance expense, quarterly Cleaning expense, weekly 81669 Keon has searched around for oversized limos and he thinks the best approach would be to buy a used one for $70,000. Keon believes he can generate revenues 33% higher than a regular limo. However, the cleaning, maintenance, and operating costs of the larger limo would be 25% higher than the smaller vehicles are currently incurring. Keon wants a detailed cost-volume-profit analysis on the oversized limo, as he believes there is more opportunity with pricing and business strategy here compared to the regular limos. Keon has asked Meena about pricing and costing of the limo services and has made his own plans, should he acquire the business. In terms of budgeting resources, Keon is planning to use two limos for regular customers and the other two for non-regulars. Here is a detailed breakdown of non-regular customer averages for a single limo (weeknights are Monday through Thursday): G $190 236 259 241 104 132 320 100 H Keon can currently borrow up to $150,000 at a 5.50% rate. In addition to the $70,000 in a trading account, Keon has a $10,000 balance in his checking account. He feels that this money could comfortably last him three months as his living expenses are quite low. Since Meena hasn't advertised very heavily (she currently pays $300 a month for advertising on Google and $150 a month for a small spot in the local paper), Keon is thinking of adding some more aggressive marketing. He believes that paying for a trio of large billboards around the city could boost annual sales by 25% (with proportional increases in vehicle costs). Each billboard would have an initial cost of $1,000, followed by $500 monthly. Keon is also thinking of expanding from Google to social media. He estimates that if he spends $1,000 a month on social media, he would be able to increase limo rental prices by 10% and not suffer any drop in sales volume. However, Keon wants to make sure that his advertising strategy is ethical and tasteful. He is looking for advice on the best marketing strategy given his industry and his limited budget. Keon hasn't made a budget yet, but wants help with this as well as advice on performing budgetary analysis in a small business. Keon has discussed this business idea with Sheri, a dear friend of his. Sheri has been employed as a limo driver in the past but is currently working as a Lyft and DoorDash driver. In discussion with Keon, she grew excited and mentioned she would love to work with him. Since one of the current drivers is retiring, Keon believes he can hire her on a part-time basis for $20,000 a year. Based on current numbers (with no driver on salary), this would be a 8% reduction in operating cost for one limo. However, Keon wants more advice on hiring Sheri on salary versus paying her hourly.
2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 4G B 21:33 Is F 8169 G D Group Case: Keon's Limousines Keon has just graduated from college with a business management degree. Through part-time work and trading stocks, he has amassed significant savings which he is considering investing in a small business venture. Historically, Keon has earned a 9% annual return on his investments, but he realizes that he can't expect the same results with full-time employment or entrepreneurship. He hopes to earn 5.50% a year going forward, should he decide to leave $70,000 invested in a relatively safe investment portfolio. As a result of his trading success, Keon has been offered a job as a junior analyst at a major investment management firm. The job would pay $60,000 to start, with a promotion expected in a year. At that point, the salary would increase to $72,000, followed by steady $2,000 increases annually. Keon, who has always been interested in limousines, has heard about a unique opportunity to purchase an existing business from a retiring founder. Meena is seeking $200,000 for her business. She owns four limousines, originally purchased for $80,000 each six years ago. In addition to the vehicles, Keon would get a list of regular customers from Meena. Keon has some experience with valuing goodwill (a common accounting term) and he believes that 60 customers spending an average of $250 per month should be valued at the net present value of the next three years of cashflows. Keon also believes he can increase the rates of these steady customers by 4% a year (first increase immediately) without losing any of their business. In a brief conversation with Keon, Meena mentioned that she is using the straight-line depreciation method with an estimated life of twenty years and salvage value of $2,000, so $200,000 is really a bargain. Keon is skeptical about this and wants more details on depreciating luxury cars. He wants advice on best depreciation practices and the impact different methods can have. After Keon mentions that he has a mechanic friend, Bill, who would be looking at the cars before any deal was finalized, Meena admits that one of the limos needs a $3,000 repair. She has been considering selling the vehicle as is and upgrading to an oversized luxury limousine. When Keon asked if she had an idea how high the as-is price may be, Meena hesitated and said she wasn't sure. Keon described the issue to Bill and he advised that a $30,000 price was a reasonable in the current market. After Keon mentions that he has a mechanic friend, Bill, who would be looking at the cars before any deal was finalized, Meena admits that one of the limos needs a $3,000 repair. She has been considering selling the vehicle as is and upgrading to an oversized luxury limousine. When Keon asked if she had an idea how high the as-is price may be, Meena hesitated and said she wasn't sure. Keon described the issue to Bill and he advised that a $30.000 price was a reasonable in the current market H
expand button
Transcribed Image Text:2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 4G B 21:33 Is F 8169 G D Group Case: Keon's Limousines Keon has just graduated from college with a business management degree. Through part-time work and trading stocks, he has amassed significant savings which he is considering investing in a small business venture. Historically, Keon has earned a 9% annual return on his investments, but he realizes that he can't expect the same results with full-time employment or entrepreneurship. He hopes to earn 5.50% a year going forward, should he decide to leave $70,000 invested in a relatively safe investment portfolio. As a result of his trading success, Keon has been offered a job as a junior analyst at a major investment management firm. The job would pay $60,000 to start, with a promotion expected in a year. At that point, the salary would increase to $72,000, followed by steady $2,000 increases annually. Keon, who has always been interested in limousines, has heard about a unique opportunity to purchase an existing business from a retiring founder. Meena is seeking $200,000 for her business. She owns four limousines, originally purchased for $80,000 each six years ago. In addition to the vehicles, Keon would get a list of regular customers from Meena. Keon has some experience with valuing goodwill (a common accounting term) and he believes that 60 customers spending an average of $250 per month should be valued at the net present value of the next three years of cashflows. Keon also believes he can increase the rates of these steady customers by 4% a year (first increase immediately) without losing any of their business. In a brief conversation with Keon, Meena mentioned that she is using the straight-line depreciation method with an estimated life of twenty years and salvage value of $2,000, so $200,000 is really a bargain. Keon is skeptical about this and wants more details on depreciating luxury cars. He wants advice on best depreciation practices and the impact different methods can have. After Keon mentions that he has a mechanic friend, Bill, who would be looking at the cars before any deal was finalized, Meena admits that one of the limos needs a $3,000 repair. She has been considering selling the vehicle as is and upgrading to an oversized luxury limousine. When Keon asked if she had an idea how high the as-is price may be, Meena hesitated and said she wasn't sure. Keon described the issue to Bill and he advised that a $30,000 price was a reasonable in the current market. After Keon mentions that he has a mechanic friend, Bill, who would be looking at the cars before any deal was finalized, Meena admits that one of the limos needs a $3,000 repair. She has been considering selling the vehicle as is and upgrading to an oversized luxury limousine. When Keon asked if she had an idea how high the as-is price may be, Meena hesitated and said she wasn't sure. Keon described the issue to Bill and he advised that a $30.000 price was a reasonable in the current market H
Expert Solution
Check Mark
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
See solutionCheck out a sample Q&A here
Step 1
VIEW
Step 2
VIEW
Step 3
VIEW
bartleby

Step by stepSolved in 3 steps

See solution
Check out a sample Q&A here
Blurred answer
Knowledge Booster
Background pattern image
Similar questions
Recommended textbooks for you
Text book image
Principles Of Marketing
Marketing
ISBN:9780134492513
Author:Kotler, Philip, Armstrong, Gary (gary M.)
Publisher:Pearson Higher Education,
Text book image
Marketing
Marketing
ISBN:9781259924040
Author:Roger A. Kerin, Steven W. Hartley
Publisher:McGraw-Hill Education
Text book image
Foundations of Business (MindTap Course List)
Marketing
ISBN:9781337386920
Author:William M. Pride, Robert J. Hughes, Jack R. Kapoor
Publisher:Cengage Learning
Text book image
Marketing: An Introduction (13th Edition)
Marketing
ISBN:9780134149530
Author:Gary Armstrong, Philip Kotler
Publisher:PEARSON
Text book image
MKTG 12:STUDENT ED.-TEXT
Marketing
ISBN:9781337407595
Author:Lamb
Publisher:Cengage
Text book image
Contemporary Marketing
Marketing
ISBN:9780357033777
Author:Louis E. Boone, David L. Kurtz
Publisher:Cengage Learning
SEE MORE TEXTBOOKS