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1. One word document for essays and similar type questions. One Excel spreadsheet with all exercises in separate labeled tabs. All FINAL exercise answers should be highlighted.
2. One word document with all exercises, essays, and similar type questions. All FINAL exercise answers should be highlighted.
Exercises
1. C9-72, page 541: Prepare cash budgets under two alternatives
2. (Choose 2 of 5 and submit for homework credit) E9-21A, E9-22A, E9-23A, E9-24A and E9-25A, pages 512-514: Preparing different types of budgets
3. C9-71, page 541: Suggest performance improvements
4. C10-76, page 611: Compute flexible budget and sales volume variances
Ethical Issue Exercise
1. C10-78, page 613: Ethical dilemmas relating to standards
Essay Questions:
1. What is an expansion path and in what situations are they needed. Discuss the pros and cons in your explanation.
2. What is the difference between economies of scale and iseconomies of scale and what are the reasons for using each? How do you purchase these types of economies?
3. What are economies of scope and how are they different from economies of scale?
How are economies of scope related to or affected by learning and experience economies?
4. Define each of the production functions presented in chapter ten and describe the situations in which they would most likely be used and why.
5. What types of problems may arise when measuring cost for short-run cost estimation? Why are they considered problems and what are possible resolutions?
Increasingly, employees are being allowed to choose benefit packages from a menu of items. For instance, workers may be given a package of benefits that includes basic and optional items. Basics might include modest medical coverage, life insurance equal to a year?s salary, vacation time based on length of service, and some retirement pay. But then employees can use credits to choose among such additional benefits as full medical coverage, dental and eye care, more vacation time, additional disability income, and higher company payments to the retirement fund.
How do you think flexible benefit packages would affect an employee?s choice between higher wages and more benefits?
Required Texts:
1. At the second level of the customer value hierarchy, the marketer has to turn
the _____ into a _____.
2. _____ is the totality of features that affect how a product looks and functions in terms of customer requirements.
3. Top firms audit service performance by collecting _____ measurements to probe
customer satisfiers and dissatisfiers.
4. Services are typically produced and consumed simultaneously. This is an example of the _____ characteristic of services.
5. In considering an observed price, consumers often compare it to an internal price called a _____ price.
6. When PepsiCo sells its cola syrup to Russia for rubles and agrees to buy Russian vodka at a certain rate for sale in the United States, this is called
Exercises:
1. Name and describe the three groups products can be classified into according to durability and tangibility.
2. Identify and explain the six levels of the product hierarchy.
3. What are the five categories of offerings in the product-service mix?
4. What are the five determinants of service quality in order of importance?
5. What is the six-step procedure most firms use to set their pricing policy?
Case Study:
Marketing channels hold risks and opportunities for the toy industry. How have United States toy makers used marketing channel backlash to augment sagging sales?
Toy distributors have suffered in recent years as pricing and marketing-channel costs have risen. This is especially true in the United States toy industry. Over 80 percent of all toys sold in the United States come from foreign manufacturers.
Recent massive toy recalls could change this percentage. With scares generated by the lead in the paint used on the toys and by the danger of infants choking from
small parts, United States toy distributors are re-evaluating the cost benefits of foreign sources of supply and, instead, are re-focusing on more traditional domestic marketing channels to supply toy products.
United States distributors have found that outsourcing has come at a high cost.
The toy distributor that puts its name on a toy is ultimately responsible for the safety of that toy even if the toy is made elsewhere. Consumer confidence in the safety of toys on the shelves of retailers is at an all-time low. What?s the solution to the problem? A growing number of major toy distributors are finding the answer in their own backyard.
An increasing number of major toy distributors are turning to the ?once dead? small United States toy manufacturer as a ?new source? of supply. United States manufacturer Vermont Wooden Toys has found that its wooden toy inventory is in very high demand. Why? Boutique toy manufacturers are known for producing safe, high-quality toys. Their problems have been their relatively high cost, an inability to produce in high volume, and difficulty in managing expanding marketing channels. These disadvantages are quickly disappearing, as United States toy consumers are once again falling in love with simple, low-tech toys. As the toy industry continues to change, United States toy distributors are betting that
?Made in America? will once again be a toy label worth noticing.
Adapted from ?U.S. toy makers are on a roll? by Rachel Konrad (Associated Press), Houston Chronicle, October 10, 2007, pp. D1 and D5.
Case study developed by Dr. John R. Brooks, Jr., Houston Baptist University.
Questions:
1.What percentage of U.S. toys are produced by foreign manufacturers? Why might this be a problem?
2.What two consumer concerns drove several massive toy recalls?
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