Homework 2_RFM Analysis hw Spring 2024
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Prof. Andrew Gershoff Marketing Management: WP MBA SPRING 2024 page 1 M
ARKETING M
ANAGEMENT
S
PRING 2024 HOMEWORK EXERCISE 2 This exercise is to be submitted to Canvas by 11:59 p.m. on Monday, April 8
th
2024. Please submit your answers in an Excel file with the following naming convention: “last_first_c#_rfm” (for example, Andrew_gershoff_c1_rfm) Your submission file should be neatly formatted and contain four tabs, one for each question. This is an individual homework assignment. That means you should complete it on your own. You should not consult with others nor compare answers. In addition to this document there is an Excel workbook (ATX_Outerwear_Market_Rollout_Data.xlsx) containing the data necessary to complete the excercise posted on Canvas. BEHAVIORAL SEGMENTATION AND TARGETING AT ATX OUTERWEAR The marketing director at ATX Outerwear, a small outdoor apparel retailer, is considering reaching out to existing customers in the company’s database to offer customers the opportunity to purchase item
s from the company’s Spring 202
4 catalog. The database contains purchase history data for 96,551 customers
, including how long since the customer’s last transaction, how frequent the customer purchases (in a window of the last 24 months), and the monetary value of purchases (in a window of the last 24 months). The director is considering mailing the catalog to either the entire database or a subset of customers from the database. The cost of reaching a customer via a catalog mailing is $0.80. She decides to run an experiment to help choose which strategy to pursue. First, she has a database programmer conduct an RFM segmentation based on quintiles of the recency, frequency, and monetary
Prof. Andrew Gershoff Marketing Management: Spring 2024 spend data. This results in each of the 96,551 customers being assigned a 3-digit RFM code between 111 and 555 (see the class notes for more on this approach). She then takes a random sample of about 10% of the database resulting in a sample of 9,565 customers and mails each customer in this sample a catalog. After 4 weeks she observes which customers have made a purchase. The average spend on purchases made is $104. ATX Outerwear earns a 50% profit margin on purchases. The Excel dataset ATX_Outerwear_Market_Rollout_Data.xlsx
contains the data for the market test customers (9,565 customers) and the rollout customers (86,947 customers). The market test data contains the customer ID, a binary indicator (labelled “buy”) of whether or not the customer in the test market placed an order, and the RFM code. The rollout data contains the customer ID and the RFM code. Using these data please answer the following questions. 1) What is the overall average buy rate among the market test sample? Provide a neatly formatted bar chart of the average response rate by 3-digit RFM codes for the market test data. 2) Assuming the director decides to mail to all 86,947 customers in the rollout sample. What is a. Total mailing costs? b. Number of customers expected to purchase? c. Total expected profit or loss from this plan? 3) What is the response rate required to break even on the mailing costs? 4) Now consider using the RFM information. If you use the breakeven rate as a guide for sending out catalogs, h
ow many of the 86,947 customers ought to be targeted to receive a catalog?
5) If you use the breakeven rate to target a subset of rollout customers, what is
a. Total mailing costs? b. Number of customers expected to purchase? c. Total expected profit or loss from this plan? 6) Provide some explanation for why your targeted approach differs from the approach of mailing to all customers.
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Related Questions
2. Which of the following is not an example of a constraint resource in decision making?
a. Limitations of raw materials
b. Limitations of advertising expenditures
c. Limitations of skilled labor
d. Limited demand for each product
2. Joint products have
a. common processes and costs of production up to a split off point
b. a starting point for joint costs at split-off point
c. distinguishable costs before split-off point
d. all of the above
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3. Provide formulas using Equation Editor and diagrems using Drawing Tool.
4. Use the Solver to obiain computer solutions in an Excel workbook.
5. Submit the Word and Excel workbook(s) separately as attachments.
2.
Problern 1
The following network describes a transportation scenario in which there are four sources A, B, C, and D, and three
destinations P, Q, and R. (The numbers next to each arrow represent the cost of transporting one unit from that
particular source to the destination located at the other end of that arrow}.
Sources (Supplies)
Destinations (Demands)
2500
2900
4
A000
3800
8.
3800
....
**.**
9.
R.
at
2700
12
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There are ______ stages in the process of developing a sales and operations planning (S&OP) plan.
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ble X
Lorio.com/secured#lockdown
habled: Chapter 4 The Art of Model...
Saved
Help
Save & Exit
Submit
An analyst built the following spreadsheet, complete with named ranges (for example, cell B2 is named "Unit_Price" based on the
heading in cell A2).
A
B
2
Unit Price
15
3.
Unit Cost
5.18
Unit Gross Profit
Unit_Price
Unit Cost
6.
Quantity Sold
6,100
= Quantity_Sold x Unit_Price
= Quantity_Sold x Unit Cost
3,700
= Gross_Revenue - Variable_Costs - Fixed_Costs
= Net Profit/Quantity_Sold
8
Gross Revenue
9
Variable Costs
10
Fixed Costs
11
Net Profit
12
Profit per Unit
After entering the data shown below in cells B2, B3, B6, and B10, what values should appear in the following cells? (Round your "Unit
Gross Profit and Profit per Unit" answers to 2 decimal places.)
Cell
Value
B4 (Unit_Gross_Profit)
B8 (Gross Revenue)
B9 (Variable_Costs)
B11 (Net_Profit)
B12 (Profit_per Unit)
5 of 5
...
< Prev
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Mc
Graw
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8
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2
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è Ü
U
Q
H.
K
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é ö
à ä
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F
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/mod/quiz/attempt.php?attempt=D18493758&cmid%3D845634&page%3D15
G SYSTEM (ACADEMIC)
Time left 0:53:48
A local toy manufacturer is using a production line that runs 8 hours per day and produces a toy that
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any predecessors; task B requires task A to be completed. To start task C and task D, each require task B
Task C must be completed prior to stating task E. Task F needs both task D and task E to
to be cor
be completed. Finally, task G can start only once task F is completed.
What should be the calculated cycle time in minutes?
a.
6.40
O b. 4.80
Oc.
None is correct
O d. 6.00
O e. 5.30
om/mod/quiz/summary.php?attempt3D18493758&cmid%3845634
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F3
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eBook
Given the linear program
Max 3A +48
s.t.
Y
-1A+
1A +
2A +
s.t.
28 ≤ 8
2B ≤ 12
18 ≤ 16
Α, Β 2 0
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Al+
A+
A+C
A+
B+
B
B+
B
B
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S1
+
+
S₂ +
S2
+
S3
53
A, B, S1, S2,
S3
A Q☆
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https://docdro.id/KV8USNQ
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$2.4.
Ignore
taxes. What is the impact of this transaction on:
a. Revenues, b. Earnings, c. Receivables, d. Inventory, e. Cash
Question content area bottom
Part 1
a. Revenues change by
$negative 3.3−3.3
billion. (Round to one decimal place. Use a negative sign for a decrease in value.)
b. Earnings change by
$enter your response here
billion. (Round to one decimal place. Use a negative sign for a decrease in value.)
c. Receivables change by
$enter your response here
billion. (Round to one decimal place. Use a negative sign for a decrease in value.)
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billion. (Round to one decimal place. Use a negative sign for a decrease in value.)
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Nutri-Jenny is a weight-management center. It produces a wide variety of frozen entrées for consumption by its clients. The entrées
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tips dinner. It will consist of beef tips and gravy, plus some combination of peas, carrots, and a dinner roll. Nutri-Jenny would like to
determine what quantity of each item to include in the entrée to meet the nutritional requirements, while costing as little as possible.
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Unit Cost (per ounce)
Calories
Fat Calories
Vitamin A (IU)
Vitamin C (mg)
Protein (g)
Beef Gravy Peas Carrots Roll
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Beef
Nutritional Data (per ounce)
20
8
15
15
0
0
0
15
3
1
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54
19
0
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20-
Mr. Ibrahim completed his school studies. He wants new dresses as he take admission in the college. Which of the following option is related to this?
a.
Want
b.
Need
c.
Demand
d.
Need and want
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building. He hires an appraiser to help determine
the market value of the property. Why would the
appraiser most likely value the property using
the cost approach?
O A church is a specialty building that will most
likely not have any comparable properties. It is
also not an income producing property, so the
best method would be the cost approach.
O The income capitalization approach should be
used rather than the cost approach.
O A church building will have at least three
comparable properties to use to help determine
the market value.
O The church building will most likely have
income, which when a capitalization rate is
applied will help determine the market value
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Marketing: An Introduction (13th Edition)
Marketing
ISBN:9780134149530
Author:Gary Armstrong, Philip Kotler
Publisher:PEARSON
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Contemporary Marketing
Marketing
ISBN:9780357033777
Author:Louis E. Boone, David L. Kurtz
Publisher:Cengage Learning