Bundle: Contemporary Marketing, Loose-Leaf Version, 17th + LMS Integrated MindTapV2.0 Contemporary Marketing, 1 term (6 months) Printed Access Card
17th Edition
ISBN: 9781337493819
Author: BOONE, Louis E., Kurtz, David L.
Publisher: Cengage Learning
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Chapter 18, Problem 2CTE
Summary Introduction
To discuss: The two cases that are to be considered when a CD is marked down to sell fast.
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An entity sells goods with a warranty covering customers for the cost of repairs of any defects that are discovered within the first two months after purchase. Past experience suggests that 80% of the goods sold will have no defects, 15% will have minor defects and 5% will have major defects. If minor defects were detected in all products sold the cost of repairs would be €30,000; if major defects were detected in all products sold, the cost would be €150,000. What amount of provision should be made?
If a good is characterized by easy exclusion, but many people or entities may concurrently use it without reducing the amount available for others, the good is known as an example of which of the following terms?
True of false
Wherever a company does must always consider that they have products that compete with its products and services
Chapter 18 Solutions
Bundle: Contemporary Marketing, Loose-Leaf Version, 17th + LMS Integrated MindTapV2.0 Contemporary Marketing, 1 term (6 months) Printed Access Card
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- You buy a new pair of shoes on sale. The printed receipt states very clearly that the shoes are not returnable. After you get them home, you wear the shoes around the house for a day and decide that they just don’t fit you correctly. So you take the shoes back to the store. The clerk points to the message on the receipt, but you don’t let that deter you. You start to yell angrily about the store’s poor quality service so that the people in the store start to stare. The clerk calls the store manager; after some discussion, the manager agrees to give you your money back. Is this ethical? Would you be likely to do this if you were the customer?arrow_forwardAnne is a bargain-minded shopper. Normally, her favorite toothpaste costs the same at both of her local supermarkets, but the stores are having competing sales this week. At one store, there is a bonus offer: buy 2, get 1 free. At the other store, toothpaste is being sold at 40 percent off. Anne instantly opts for the first offer. Was that really the less-expensive choice? (Hint: Is “buy 2, get 1 free” the same as 50 percent off?)arrow_forwardA heavy truck parts maker is able to tender on a pre-production study contract of a new type of truck ventilator unit worth $25,000 net profit if it wins the contract. Tendering costs would be about $2,000. The chances of winning the contract are 50 percent. If the company wins the contract, it must decide on the level of marketing it should make to increase its chances of getting further production contract worth $55,000 net profit. Promotion at a high level costs $18,000 with a resulting probability of winning the contract of 0.8. At medium level promotion, it costs $12,000 with a probability of 75 percent and at a low level, it costs $8,000 with a probability of 60 percent. Should the initial study contract be lost, the company can still bid on the production contract at an additional tender cost of $6,000. The probability of winning the production contract from this stage is 30 percent. a) Draw a decision tree to show the relationship between the various options which arise as the…arrow_forward
- Recording artists earn only about 9 percent in royalties per CD,using a royalty base of retail price less 25 percent for packagingcosts. The rest goes to the producer and to cover recording costs,promotion, copies given away to radio stations and reviewers,and other costs such as videos. What do you think happens tothe artist’s royalties when a CD is marked down to sell faster?Consider two cases: (a) the marked-down CD sells more copies;and (b) it sells the same number of copies as before.arrow_forwardGenerally speaking, using market experiments and pilot testing, when possible, is good way for firms to accurately estimate the true impact that a price change will have on their sales? True Falsearrow_forwardImagine you run a small apparel shop in nual India and positive about sales of T-shirt this year (2021) due to good monsoon. You 'signed a contract' with manufacturer to buy 100 T-shirt of four different colors of equal numbers at Rs 200 cach and paid advance 5000 Rs for it. Manufacturer supplied all the T-shirt of same color. Discuss the remedy you have in your hand against the manufacturer.arrow_forward
- Buying a phone through a home credit and returning the same due to defects is considered as purchasing?arrow_forwardSuppose your company sells a packs of lenses attach to smart phones to improve the quality of picture people take.you pay 29.89for each 3pack 59.95what is goods sold percentage for this item?arrow_forwardWhat are the advantages of involving users in the release testing process from the beginning? Is it dangerous for consumers to take part in this activity?arrow_forward
- A problem with sales commission is its tendency to reward the quantity of goods sold without having regard to the quality of service provided by sales staff. In which circumstances might this have negative consequences? How could a commission based incentive scheme be adapted to incorporate measures of quality as well as quantity?arrow_forwardA firm wants to stop its sales agents from pricing too aggressively to make sales by requiring the agent to obtain a marketing manager’s permission to reduce price below a specific threshold. This solution would only work if a) The marketing manager has no information about the matter at hand b) The marketing manager can only get all the information on the case from the sales agent c) Enough unbiased information is transferred to the manager to prevent an unprofitable price reduction d) All of the above Please clearly explain your answerarrow_forwardRevise the following statements to make them more positive and courteous. Customers are ineligible for the 25 percent discount if they fail to provide the discount code at the time of purchase.arrow_forward
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