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- is used to calculate the minimum level of output a business will need to produce and sell to cover its costs and to examine the impact that changes in costs, prices and sales could have on profits. O Total revenue 8 9 O Total cost Loss Break-even analysis-Lovely Apparel must decide how many sets of assorted summer wear to order for its three stores. Information on pricing, sales, and inventory costs has led to the following payoff table, in thousands. Demand Order Size Low Medium High 1 set 12 15 15 2 sets 9 25 35 3 sets 6 35 60 What decision should be made by the optimist? What decision should be made by the conservative? What decision should be made using minimax regret?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
- I love being a Dad and I intend to capture my daughter’s life on some sort of permanent media. Specifically, I have chosen to use aPanasonic camera and have its film developed at Bryan Photo Studio. My choices to use the Panasonic camera and Picture Perfect PhotoStudio represent choices based on:a. Wantb. Affordabilityc. Needd. DemandKeisha has been inundated with product-of-the-month offers from various marketing companies. She is consider-ing joining a club that allows DVDs to be downloaded from a members-only Web site, but can’t decide which membership offers the best deal. Given the cost informa-tion below, which club would you recommend for Keisha? Club Membership fee Cost per DVDAlmost Free Flicks $ 40 $5Best Movies $ 65 $4Choice Cinema $100 $31. Illustrate how to calculate a breakeven point in terms of units and dollars using total fixed costs and variable costs in your calculation. 2. Which introductory pricing strategies have you noticed when you shop? 3. Illustrate two different pricing approaches that businesses use. 4. Which forecasting method would be most accurate for forecasting sales of hair-care products in the next year? How would your answer change if you were forecasting for the next month? For home appliances? 5. What is the most important part of a marketing audit? Why? What is the least important part? Why?
- 1. Explain how functional strategies can support an organization's corporate strategy. 2. Explain the new real-options approach used in conditions of high environmental uncertainty. 3. What are the reasons for strategic planners to pay more attention to the importance of planning and implementing an effective pricing strategy in a competitive market?TABLE 3 Cost Per Value ($) Percent Percent Medium Percent Small Supplier Large 5 40 40 20 4 30 35 35 3 20 20 60 1 sells for $7 per pound, and each pound contains 3 units of vitamin A and 1 unit of vitamin C. Food 2 sells for $1 per pound, and each pound contains 1 unit of each vitamin. Each day, the family needs at least 12 units of vitamin A and 6 units of vitamin C. a Verify that Peg should purchase 12 units of food 2 each day and thus oversatisfy the vitamin C requirement by 6 units. b Al has put his foot down and demanded that Peg ful- fill the family's daily nutritional requirement exactly by obtaining precisely 12 units of vitamin A and 6 units of vitamin C. The optimal solution to the new problem will involve ingesting less vitamin C, but it will be more ex- pensive. Why?When product demand fluctuates and yet you maintain aconstant level of employment, some of your cost savingsmight include:a) reduction in hiring costs.b) reduction in layoff costs and unemployment insurancecosts.c) lack of need to pay a premium wage to get workers toaccept unstable employment.d) having a trained workforce rather than having toretrain new employees each time you hire for anupswing in demand.e) all of the above.
- Describe what you are selling (1 item only): What is the price you will sell at to sustomer: How will you explain to potential customers WHY they should buy your product? If your total costs to run the company is $5,000 per month, how many do you have to sell each month to cover your costs? Show your calculation! Do you think this is a realistic number to achieve each month? Explain your answer. In case sales go slower than expected, come up with a volume discount offer for customers and describe how it will work in the box below: (for example if you buy 5 items instead of 1, you will give customer a 10% discount).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?1) Grand Styles Furniture Store is overstocked in (has excess inventory of) one type of chair. Based on the Price-Demand Relationship, what advice would you provide to the store manager to deal with this problem? Please use no more than 2 bullet points for your answer. 2) Fancy Fashions sells jeans for $59 and sweaters for $39, To increase sales of jeans and sweaters, Fancy Fashions promotes this Product Price Bundle: "Buy a pair of jeans and a sweater for $98'. Will this Product Price Bundle will work well to increase the sales of jeans and sweaters? Explain your answer In no more than 2 bullet points. 3) What Is the man (most Important) way that Cost-Based Pricing is different from Customer Value-Based Pricing? Please use no more than 2 bullet points for your answer. 4) Would the cost of coffee beans purchased by McDonald's be a Fixed Cost or a Variable Cost? Please use no more than 2 bullet points for your answer.