### Case Study: Business Policy Ltd. - Marketing Students' Magazine at University of Ghana**Background:**Business Policy Ltd., a limited liability company registered and set up by the Level 400 Policy Class of the 2015/2016 Academic Year, is beginning a project to market a students' magazine on the University of Ghana campus. The company estimates to sell each magazine for GHC10.00, generating a profit of GHC2.50 per magazine.To achieve their targets, the company needs to identify realistic objectives to fulfill all their goals. As part of their strategy, they plan to analyze advertising rates in local newspapers on campus and obtain population data from the Academic Office at the University of Ghana. Additionally, they intend to align their promotional budget with expected sales and profit and establish a timescale for achieving their objectives.**Required:**a) **State and explain the six (6) elements of the framework for setting objectives.**b) **Using the framework in (a), discuss how Business Policy Ltd. can set realistic objectives for its proposed project on the Legon Campus as explained in the case.**---**Guide for Educators:**This text provides an example-oriented approach to understanding how Business Policy Ltd. applies business objectives and planning in a real-world context. Educators can use this case study to illustrate the principles of setting and achieving business objectives, engaging students in practical applications of theoretical concepts.

Business Policy Ltd., a limited liability company formed by the Level 400 Policy Class of the…

Answered: University of Ghana campus. It is…

Principles Of Marketing

17th Edition

ISBN:9780134492513

Author:Kotler, Philip, Armstrong, Gary (gary M.)

Publisher:Kotler, Philip, Armstrong, Gary (gary M.)

Chapter1: Marketing: Creating Customer Value And Engagement

Section: Chapter Questions

Problem 1.1DQ

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Specialty Toys, Inc., sells a variety of new and innovative children's toys. Management learned that the preholiday season is the best time to introduce a new toy, because many families use this time to look for new ideas for December holiday gifts. When Specialty discovers a new toy with good market potential, it chooses an October market entry date. In order to get toys in its stores by October, Specialty places one-time orders with its manufacturers in June or July of cach year. Demand for children's toys can be highly volatile. If a new toy catches on, a sense of shortage in the marketplace often increases the demand to high levels and large profits can be realized. However, new toys can also flop, leaving Specialty stuck with high levels of inventory that must be sold at reduced prices. The most important question the company faces is deciding how many units of a new toy should be purchased to meet anticipated sales demand. If too few are purchased, sales will be lost; if too many…
The purpose of this assignment is to give you an opportunity to create a forecast based on data and interpret the results. You will also gain more practice with Minitab. Forecasting future commodity prices can be important for many production operations. One such commodity is the price of aluminum ($US per metric ton). For this assignment, you are asked to use Minitab to create two forecasts based upon the data provided below. First, create a one period forecast based upon a three month moving average. Second, create a one period forecast based upon exponential smoothing (using a smoothing weight of 0.95). Compare the two forecasts based upon the Mean Absolute Deviation (MAD) measure of accuracy. Interpret your results. The Data: Month Price Jan-18 2,209.73 Feb-18 2,181.79 Mar-18 2,069.24 Apr-18 2,254.69 May-18 2,299.67 Jun-18 2,237.62 Jul-18 2,082.24 Aug-18 2,051.51 Sep-18 2,026.46 Oct-18 2,029.86 Nov-18 1,938.51 Dec-18 1,920.38 Jan-19 1,853.72 Feb-19…
The Westchester Chamber of Commerce periodically sponsors public service seminars and programs. Currently, promotional plans are under way for this year's program. Advertising alternatives include television, radio, and online. Audience estimates, costs, and maximum media usage limitations are as shown: Constraint Television Radio Online Audience per advertisement 140,000 18,000 30,000 Cost per advertisement $1,500 $200 $550 Maximum media usage 15 19 12 To ensure a balanced use of advertising media, radio advertisements must not exceed 45% of the total number of advertisements authorized. In addition, television should account for at least 15% of the total number of advertisements authorized. (a) If the promotional budget is limited to $24,100, how many commercial messages should be run on each medium to maximize total audience contact? If your answer is zero enter "0". No of commercial Advertisement Alternatives messages Television Radio Online What is the allocation of the budget…
Phylis Ltd has the following transactions in respect of its goods during Dec 2015. Opening stock 78 units @ GH¢25 Dec 5 bought 250 units @ GH¢24 Dec 10 sold 175 units @ GH¢95 Dec 11 bought 140 units @ GH¢26 Dec 12 sold 200 units @ GH¢48 Dec 15 paid for printing GH¢7,200 Dec 16 bought 400 units @ GH¢20 Dec 22 sold 140 units @ GH¢85 Dec 22 commission to sales Executives GH¢ 20,000 Dec 23 sold 155 units @ GH¢40 Additional information; 1. The cost of carrying a unit material inwards was agreed at GH¢1.5 2. Out of the general administrative expenses of GH¢15,200 only GH¢3,700 had been paid during December. 3. The goods sold on December 23rd only 20% has been collected by the company as at close of the year-month 4. The outstanding balance of GH¢7,100 was paid on the 20th January 2021 You are required to: a. Write up the stores ledger card using the weighted average method of stock valuation. b. Prepare trading, profit and loss…
Priceline.com is an online travel agency for finding discount rates for travel-related purchases such as airline tickets and hotel stays. The company facilitates the provision of travel services from its suppliers to its clients. Priceline's profit from the proceeds is the difference between the price suggested by a customer and the one charged by the service provider. It has also added a more traditional model, called Express Deals, where travelers have presented prices and a geographical perimeter within which the hotel will be located but are not told the name of the establishment. Determine in the above case how priceline.com will benefit most from different social networking platforms and tools?
LPM Corp. produces and sells two types of frozen burgers, Turkey Burgers and Veggie Burgers. In the most recent month, the firm sold 12,000 Turkey Burgers and 8,000 Veggie Burgers. Turkey Burgers sold for $14.00 per box and variable costs were $7.40 per box. The Veggie Burgers sold for $16.00 per box and variable costs were $8.25 per box. The fixed expenses of the entire company were $41,160. If the sales mix were to shift toward the Turkey Burgers product line with total sales volume remaining constant at 20,000, the overall break-even point for the entire company:
The actual number of patients at Providence Emergency Medical Clinic for the first six weeks of this year follows: Week Actual No. of Patients 1 65 68 77 59 66 75 23456 2 5 6 Clinic administrator Dana Schniederjans wants you to forecast patient numbers at the clinic for week 7 by using this data. You decide to use a weighted moving average method to find this forecast. Your method uses four actual demand levels, with weights of 0.500 on the present period, 0.250 one period ago, 0.125 two periods ago, and 0.125 three periods ago. a) What is the value of your forecast? The value of the forecast is patients (round your response to two decimal places). b) If instead the weights were 40, 20, 10, and 10, respectively, how would the forecast change? OA. The value of the forecast will decrease. B. The value of the forecast will remain the same. C. The value of the forecast will increase. c) What if the weights were 0.40, 0.30, 0.20, and 0.10, respectively? Now what is the forecast for week 7?…
A company that produces protein bars used differentforecasting techniques to predict demand for its proteinbars. The actual demand and the forecasted demand forcases of protein bats using the two different forecasting methods are presented in the following table:Month F1 F2 Actual Demand At1 97 95 992 80 77 863 82 89 904 54 62 685 81 84 796 88 93 827 89 89 968 86 84 889 80 74 76a Compute MAD for the results of each forecastingmethod. Which one is more accurate?b Compute MSE for the results of each forecastingmethod. Which one is more accurate?c Compute MAPE for the results of each forecastingmethod. Which one is more accurate?
The Westchester Chamber of Commerce periodically sponsors public service seminars and programs. Currently, promotional plans are under way for this year's program. Advertising alternatives include television, radio, and online. Audience estimates, costs, and maximum media usage limitations are as shown: Constraint Television Radio Online 100,000 16,000 35,000 Audience per advertisement Cost per advertisement $1,500 $250 $650 Maximum media usage 10 24 14 To ensure a balanced use of advertising media, radio advertisements must not exceed 50% of the total number of advertisements authorized. In addition, television should account for at least 10% of the total number of advertisements authorized. (a) If the promotional budget is limited…
Week Demand of beef 1 500 2 550 3 600 4 720 5 780 6 800 Corresponding weights are W1=0.6, W2=0.4 and W3=0.3 The 3-week weighted moving average to forecast- Week Demand of beef 3- weeks weighted moving average forecast 1 500 2 550 3 600 4 720 (500×0.6+550×0.4+600×0.3) / (0.6+0.4+0.3) = 538.46 5 780 (550×0.6+600×0.4+720×0.3) / (0.6+0.4+0.3) = 604.61 (600×0.6+720×0.4+780×0.3) / (0.6+0.4+0.3) = 678.46 Forecast for week 4,5 and 6 = 538.46, 604.61 and 678.46 4-week weighted moving average to forecast- Corresponding weights are W1=0.6, W2=0.4, W3=0.3, and W4=0.2 Week Demand of beef 4-weeks weighted moving average forecast 1 500 2 550 3 600 4 720 5 780 (500×0.6+550×0.4+600×0.3+720×0.2) / (0.6+0.4+0.3+0.2) = 562.66 (550×0.6+600×0.4+720×0.3+780×0.2) / (0.6+0.4+0.3+0.2) = 628 Forecast for week 6 and 7 = 562.66, 628…

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