Q: why hospitality industry is prone to cycbey-security theats? how can it be avoided?
A: The entire concept of hospitality is around customers and the ability to know and target them; this…
Q: What happens to equilibrium price if the price of cocoa drops, and people become more health…
A: In marketing, price determination process gives flexibility to business that would help it in…
Q: When you see damage to the packaging of a mobile phone you should damage the item out and place it…
A: Product shipping requires special care and attention. There are different regulations for packing…
Q: Is a personal computer sold at a retail store a consumerproduct or a business product? Defend your…
A: Consumers are part of the business and are said to its external stakeholders. It is because they are…
Q: What are the things that you need to consider in making instructional design? Explain.
A: The basis throughout your whole e - learning course is provided by instructional design models. They…
Q: ✓ Saved Question 11 (4 points) Before sales of its iPad 1 reached its peak, Apple launched the iPad…
A: 11. Apple is using international speed to market strategy to compete effectively on the…
Q: Explain Food and Drug Administration (FDA)?
A: In any society, the health and hygiene of the people is the chief concern for development activities…
Q: Why can the process of commercialization take a considerable amount of time?
A: Commercialization is the last stage in the process of NDP. It is at this phase that full-scale…
Q: What is consumer decision-making process?
A: The consumer decision-making process consists of five steps: need identification, information…
Q: What is a market segment profile? Why is it an important step in the target market selection…
A: Market segmentation is the first and very important activity in marketing process. We divide the…
Q: separated from her husband, whom she describes as frighteningly controlling, emotionally abusive,…
A: Since you have posted a question with multiple sub-parts, we will solve the first three subparts for…
Q: Compare and contrast the difference between high and low involvement in the decision making process
A: Decision-making is defined as the cognitive process that leads to the choice of a belief or a course…
Q: Discuss and Understand the reasons behind success or failure of a new product?
A: When a new company enters the market as startup, they first thing they do is create a product or…
Q: Explore how the Internet facilitates business buying and marketing.
A: The Internet has changed the manner in which organizations direct their tasks. The global…
Q: Could you please explain the brand portfolio by using the Coca-Cola company as an example?
A: The Brand Portfolio is an umbrella term that describes how all of a company's brands or brand lines…
Q: What is meant by the term scrutinize?
A: In business there are various activities to be carried out to create the final value. This final…
Q: Why is Internal Environmental Analysis critical?
A: External and internal variables combine to make up the organizational environment. To determine the…
Q: Advise the Board about the possible future trends in the retail industry.
A: The retail Industry refers to the enterprises that sell products to the final consumers. It is a…
Q: Describe the following pricing strategies and give an example each: a) Two-part pricing b) Peak-Load…
A: Every company needs to study their pricing policies so that the customers feel comfortable in paying…
Q: “Marketing perspective lie at the heart of strategic decision making, whether at the corporate,…
A: Marketing is an integral part of the business and this is the unit that helps in generating the…
Q: In what ways can packaging be used as astrategic tool?
A: Packaging is involved as a marketing mix strategy that focuses on designing creative packets for the…
Q: How important are services in the U.S. economy?
A: An economy includes exchange of products and services between companies and customers. This gives us…
Q: How does international marketing differ from domesticmarketing?
A: Marketing is defined as the set of activities undertaken by businesses to provide satisfaction to…
Q: What should marketers consider as they decidewhether to license or enter into a joint venture in…
A: In licensing, one company can give license to other company to produce and sell it's product or…
Q: When and how can information and communication technology benefit or hinder the community?
A: Information and communication technology (ICT) has made significant contributions to social and…
Q: What is consumer behavior?
A: Researching consumer buying behaviour is most important for marketers because they can understand…
Q: How can marketers exploit the characteristics of theInternet to improve the product element of their…
A: The Internet has proved to be a great platform for numerous companies and marketers to improve their…
Q: Differences in customs, governmental regulations, and the cost of living are examples of (A) Global…
A: Integrated business strategies - These are the key business tactics that play a critical role in the…
Q: Think about the effects that using the cloud will have not only on your wallet but also on your…
A: Advantages of moving to Cloud: 1) Make a backup of your data and restore it if necessary.Once data…
Q: Identify the five steps of the target market selection process.
A: A target market is commonly a segmented collection of people who are most likely to purchase an…
Q: Discuss the product adoption process.
A: Product Adoption- Product adoption is also called the user adoption process. It is the moment when…
Q: All the following behaviours are possible obstacles to supply chain coordination, except _____ a)…
A: An effective supply chain management process acts as an competitive advantage for the organization.…
Q: What is the function of the World Trade Organization (WTO)?
A: The world trade organization provides a platform to negotiate trade agreements and resolve trade…
Q: Discuss the growth and importance of services.
A: Services are intangible components of our economy which cannot be seen or felt. Services are…
Q: How do e- and m-commerce affect the way payments are made?
A: E-commerce & M-commerce - It is a business transaction or buying or selling of goods via online…
Q: Critically discuss the following methods and or instruments of data collection. For each method,…
A: A questionnaire is a commonly used data collection method that is used for collecting both…
Q: What are the major functions of labeling?
A: Labeling: It illustrates the procedure of providing recognition to goods by binding a label to the…
Q: What is a joint venture?
A: The concept of global marketing explain about activities of marketing that is performed in different…
Q: Why do you think a good business relationship must be maintained through effective communication?…
A: Good communication is without a doubt one of the most important ingredients in a successful…
Q: Consumer landscape is changing but they can be understood. a) Describe the approach that you will…
A: Every company will create value for its customers and shareholders. Value for customer is created in…
Q: QUESTION: Identify the idea generation tool used by Netflix in this example.
A: In world-class organizations, you often see excellent coordination between marketing and product…
Q: Explain the eight major steps in developing an advertising campaign.
A: Advertising campaign is a process in which, product is made known to consumers, through promotional…
Q: How do the characteristics of digital marketing affectthe promotion element of the marketing mix?
A: Long stretches of readiness go into an effective item send-off. The first step is product…
Q: What is the relevance of public markets in the philippines?
A: Each shop or booth in a public market is owned and operated by a small independent enterprise. In…
Q: Which is not necessary when using bar codes in supermarkets? (A) Price on the shelf (B) Price on…
A: Barcode or barcode is a way to represent data in a visual, machine-readable way. Initially, barcodes…
Q: A data strategy can be defensive or offensive. If an organization positioned itself to be defensive,…
A: Offensive strategy is a kind of market approach in which the companies try to destabilize the market…
Q: ty includes racial, gender, neurodiversity and sexual preference as well as fundamentally different…
A: A diversified workplace comprises of all genders, races, and cultural backgrounds, apart from…
Q: Do small companies that manufacture just a few products need to be concerned about developing and…
A: Manufacturing management can be explained as the various manufacturing processes and activities.…
Q: What are the commonly used methods of businessbuying?
A: The business happens with the goods and services. It is a marketplace where all the goods and…
Q: Why SWOT analysis is applied?
A: SWOT stands for strengths, weaknesses, opportunities and threats. SWOT analysis is used by firms all…
Step by step
Solved in 2 steps
- The Baker Company wants to develop a budget to predict how overhead costs vary with activity levels. Management is trying to decide whether direct labor hours (DLH) or units produced is the better measure of activity for the firm. Monthly data for the preceding 24 months appear in the file P13_40.xlsx. Use regression analysis to determine which measure, DLH or Units (or both), should be used for the budget. How would the regression equation be used to obtain the budget for the firms overhead costs?Under what conditions might a firm use multiple forecasting methods?The file P13_22.xlsx contains total monthly U.S. retail sales data. While holding out the final six months of observations for validation purposes, use the method of moving averages with a carefully chosen span to forecast U.S. retail sales in the next year. Comment on the performance of your model. What makes this time series more challenging to forecast?
- The file P13_42.xlsx contains monthly data on consumer revolving credit (in millions of dollars) through credit unions. a. Use these data to forecast consumer revolving credit through credit unions for the next 12 months. Do it in two ways. First, fit an exponential trend to the series. Second, use Holts method with optimized smoothing constants. b. Which of these two methods appears to provide the best forecasts? Answer by comparing their MAPE values.The file P13_29.xlsx contains monthly time series data for total U.S. retail sales of building materials (which includes retail sales of building materials, hardware and garden supply stores, and mobile home dealers). a. Is seasonality present in these data? If so, characterize the seasonality pattern. b. Use Winters method to forecast this series with smoothing constants = = 0.1 and = 0.3. Does the forecast series seem to track the seasonal pattern well? What are your forecasts for the next 12 months?The file P13_02.xlsx contains five years of monthly data on sales (number of units sold) for a particular company. The company suspects that except for random noise, its sales are growing by a constant percentage each month and will continue to do so for at least the near future. a. Explain briefly whether the plot of the series visually supports the companys suspicion. b. By what percentage are sales increasing each month? c. What is the MAPE for the forecast model in part b? In words, what does it measure? Considering its magnitude, does the model seem to be doing a good job? d. In words, how does the model make forecasts for future months? Specifically, given the forecast value for the last month in the data set, what simple arithmetic could you use to obtain forecasts for the next few months?
- The owner of a restaurant in Bloomington, Indiana, has recorded sales data for the past 19 years. He has also recorded data on potentially relevant variables. The data are listed in the file P13_17.xlsx. a. Estimate a simple regression equation involving annual sales (the dependent variable) and the size of the population residing within 10 miles of the restaurant (the explanatory variable). Interpret R-square for this regression. b. Add another explanatory variableannual advertising expendituresto the regression equation in part a. Estimate and interpret this expanded equation. How does the R-square value for this multiple regression equation compare to that of the simple regression equation estimated in part a? Explain any difference between the two R-square values. How can you use the adjusted R-squares for a comparison of the two equations? c. Add one more explanatory variable to the multiple regression equation estimated in part b. In particular, estimate and interpret the coefficients of a multiple regression equation that includes the previous years advertising expenditure. How does the inclusion of this third explanatory variable affect the R-square, compared to the corresponding values for the equation of part b? Explain any changes in this value. What does the adjusted R-square for the new equation tell you?Do the sales prices of houses in a given community vary systematically with their sizes (as measured in square feet)? Answer this question by estimating a simple regression equation where the sales price of the house is the dependent variable, and the size of the house is the explanatory variable. Use the sample data given in P13_06.xlsx. Interpret your estimated equation, the associated R-square value, and the associated standard error of estimate.Management of a home appliance store wants to understand the growth pattern of the monthly sales of a new technology device over the past two years. The managers have recorded the relevant data in the file P13_05.xlsx. Have the sales of this device been growing linearly over the past 24 months? By examining the results of a linear trend line, explain why or why not.
- The file P13_25.xlsx contains the quarterly numbers of applications for home mortgage loans at a branch office of Northern Central Bank. a. Create a time series chart of the data. Based on what you see, which of the exponential smoothing models do you think will provide the best forecasting model? Why? b. Use simple exponential smoothing to forecast these data, using a smoothing constant of 0.1. c. Repeat part b, but search for the smoothing constant that makes RMSE as small as possible. Does it make much of an improvement over the model in part b? Is it guaranteed to produce better forecasts for the future?Suppose that a regional express delivery service company wants to estimate the cost of shipping a package (Y) as a function of cargo type, where cargo type includes the following possibilities: fragile, semifragile, and durable. Costs for 15 randomly chosen packages of approximately the same weight and same distance shipped, but of different cargo types, are provided in the file P13_16.xlsx. a. Estimate a regression equation using the given sample data, and interpret the estimated regression coefficients. b. According to the estimated regression equation, which cargo type is the most costly to ship? Which cargo type is the least costly to ship? c. How well does the estimated equation fit the given sample data? How might the fit be improved? d. Given the estimated regression equation, predict the cost of shipping a package with semifragile cargo.A small computer chip manufacturer wants to forecast monthly ozperating costs as a function of the number of units produced during a month. The company has collected the 16 months of data in the file P13_34.xlsx. a. Determine an equation that can be used to predict monthly production costs from units produced. Are there any outliers? b. How could the regression line obtained in part a be used to determine whether the company was efficient or inefficient during any particular month?
