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Managerial Economics-
Required Readings:
Tomas, Christopher and Maurice, S. Charles, “Managerial Economics 10th ed. (2011), McGraw-Hill Irwin Publishing. ISBN 9780073375915? Chapters 3 and 4; Pages 86-158.
Essay –
1. Define constrained and unconstrained maximization and explain the advantages and disadvantages of each. Include key terms related to each in your discussion.
2. Define constrained and unconstrained optimization and explain the advantages and disadvantages of each. Include key terms related to each in your discussion.
3. In what ways are sunk, fixed and average costs considered irrelevant and whyt?
4. What are the advantages and disadvantages of regression models in comparison to using a computerized regression routine?
Points will be deducted for failure to follow APA formatting guidelines or repeated use of improper formatting.
Discussion Topic:
Two partners who own Progressive Business Solutions, which currently operates out of an office in a small town near Boston, just discovered a vacancy in an office building in downtown Boston. One of the partners favors moving downtown because she believes the additional business gained by moving downtown will exceed the higher rent at the downtown location plus the cost of making the move. The other partner at PBS opposes moving downtown. He argues, ?We have already paid for office stationery, business cards, and a large sign that cannot be moved or sold. We have spent so much on our current office that we can?t afford to waste this money by moving now.? Evaluate the second partner?s advice not to move downtown.
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Managerial Accounting-
Readings:
Braun, Tietz, Harrison. Managerial Accounting, 2nd edition. Prentice Hall, 2010. (chapters 3, 4 and 5)
Exercises:
1. Exercise E3-28A, page 144: Recording journal entries
2. Exercise S4-19, page 209: Quality Initiative Decision
3. Exercises S4-11, S4-12 and S4-13, pages 207-208: Mission, Inc. computations
4. Exercise P5-49A, page 285: Process costing in a single processing department
5. Exercise P5-57B, page 289: Prepare a production cost report and journal entries
Essay Question:
Write a 400 word minimum essay discussing how lean versus traditional production might affect a management accountant trying to calculate a company?s costs. How would the information a management accountant would use to determine company costs change depending on type of production?
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Marketing Management-
Reading:
Kotler, P. and Keller, K. (2012). Marketing Management, 14/E. Prentice Hall.
Chapter 3: Collecting Information and Forecasting Demand
Chapter 4: Conducting Marketing research
Check Your Understanding:
1.
A marketing intelligence system is a set of procedures and sources managers use to obtain _________.
2.
A trend is _________.
3.
_________ shapes the beliefs, values, and norms that largely define tastes and preferences.
4.
The last step in the marketing research process is _____.
5.
Research that is designed to capture cause-and-effect relationships by eliminating competing explanations of observed findings is called _____.
6.
_____ is a coordinated collection of data, systems, tools, and techniques with supporting software and hardware by which an organization gathers and interprets relevant information from business and environment and turns it into a basis for marketing action.
Exercises:
1.
What are the steps a company can take to improve the quality of its marketing intelligence?
2.
The text describes ten megatrends that help shape the consumer landscape. Name these trends.
3.
Online research interviewing is estimated to make up 33% of all survey-based research in 2006. Discuss the pros and cons of using this method of data collection.
Case Study:
How does a company known for being conservative attract a non-conservative target market?
As the company?s ad says, ?You?re in good hands with Allstate!? Allstate Insurance has used this famous phrase to attract customers for some time. This mainstream market approach has served the company well. But even though the company is one of the industry?s leaders, observers began to notice an erosion of market share in some non-traditional sectors. Lifestyle strategies had not received much attention at Allstate. Motorcycle riders, for example, chose competitors Progressive and Geico over Allstate and other conservatively oriented companies. Why would Allstate be interested in targeting motorcycle riders?
The motorcycle market is growing thanks to increased interest from baby boomers and Generation Y consumers. In 2006, 1.2 million motorcycles were sold according to the Motorcycle Industry Council, and sales have been steadily climbing for the last five years. Allstate decided it was time to conduct targeted marketing research or risk losing this growing market. In addition to learning some interesting facts about today?s motorcycle riders, the company?s market research also found that over 600 of its 14,800 agents were devout motorcycle riders themselves. This interesting fact led the company to completely revamp some of its advertising and marketing strategies.
To target motorcycle riders, Allstate has begun featuring some of their bike-riding agents in their ads. The ads indicate that Allstate knows the needs of motorcycle riders better than competitors because the ?good hands? are on handle bars. And who knows the needs of bikers better than other bikers? Acting on additional research information, the company has also begun sponsoring motorcycle rallies and music downloads via Rolling Stone magazine for those people who love the feel of the open road. Follow-up research will determine the success of Allstate?s attempt to bond with this market segment.
Adapted from ?Let?s Ride?The Wild Ones at Allstate,? by Burt Helm, Business Week,October 1, 2007, p. 16.
Case study developed by Dr. John R. Brooks, Jr., Houston Baptist University.
Questions:
What marketing research facts led Allstate to review its advertising and marketing strategies with respect to the motorcycle market?
DISCUSSION –
?A trend is a direction or sequence of events that has some momentum and durability. Trends are more predictable and durable than fads. A trend reveals the shape of the future and provides many opportunities”.What trends do you see developing in your specific industry?
NOTE:
The two(2) attached powerpoint files i uploaded is for this section of the order, that has the following description –
Marketing Management –
Reading:
Kotler, P. and Keller, K. (2012). Marketing Management, 14/E. Prentice Hall.
Chapter 3: Collecting Information and Forecasting Demand
Chapter 4: Conducting Marketing research
Check Your Understanding:
1.
A marketing intelligence system is a set of procedures and sources managers use to obtain _________.
2.
A trend is _________.
3.
_________ shapes the beliefs, values, and norms that largely define tastes and preferences.
4.
The last step in the marketing research process is _____.
5.
Research that is designed to capture cause-and-effect relationships by eliminating competing explanations of observed findings is called _____.
6.
_____ is a coordinated collection of data, systems, tools, and techniques with supporting software and hardware by which an organization gathers and interprets relevant information from business and environment and turns it into a basis for marketing action.
Exercises:
1.
What are the steps a company can take to improve the quality of its marketing intelligence?
2.
The text describes ten megatrends that help shape the consumer landscape. Name these trends.
3.
Online research interviewing is estimated to make up 33% of all survey-based research in 2006. Discuss the pros and cons of using this method of data collection.
Case Study:
How does a company known for being conservative attract a non-conservative target market?
As the company?s ad says, ?You?re in good hands with Allstate!? Allstate Insurance has used this famous phrase to attract customers for some time. This mainstream market approach has served the company well. But even though the company is one of the industry?s leaders, observers began to notice an erosion of market share in some non-traditional sectors. Lifestyle strategies had not received much attention at Allstate. Motorcycle riders, for example, chose competitors Progressive and Geico over Allstate and other conservatively oriented companies. Why would Allstate be interested in targeting motorcycle riders?
The motorcycle market is growing thanks to increased interest from baby boomers and Generation Y consumers. In 2006, 1.2 million motorcycles were sold according to the Motorcycle Industry Council, and sales have been steadily climbing for the last five years. Allstate decided it was time to conduct targeted marketing research or risk losing this growing market. In addition to learning some interesting facts about today?s motorcycle riders, the company?s market research also found that over 600 of its 14,800 agents were devout motorcycle riders themselves. This interesting fact led the company to completely revamp some of its advertising and marketing strategies.
To target motorcycle riders, Allstate has begun featuring some of their bike-riding agents in their ads. The ads indicate that Allstate knows the needs of motorcycle riders better than competitors because the ?good hands? are on handle bars. And who knows the needs of bikers better than other bikers? Acting on additional research information, the company has also begun sponsoring motorcycle rallies and music downloads via Rolling Stone magazine for those people who love the feel of the open road. Follow-up research will determine the success of Allstate?s attempt to bond with this market segment.
Adapted from ?Let?s Ride?The Wild Ones at Allstate,? by Burt Helm, Business Week,October 1, 2007, p. 16.
Case study developed by Dr. John R. Brooks, Jr., Houston Baptist University.
Questions:
What marketing research facts led Allstate to review its advertising and marketing strategies with respect to the motorcycle market?
DISCUSSION –
?A trend is a direction or sequence of events that has some momentum and durability. Trends are more predictable and durable than fads. A trend reveals the shape of the future and provides many opportunities”.What trends do you see developing in your specific industry?
————————–
NOTE:
The two(2) attached powerpoint files i uploaded is for this section of the order, that has the following description –
Marketing Management –
Reading:
Kotler, P. and Keller, K. (2012). Marketing Management, 14/E. Prentice Hall.
Chapter 3: Collecting Information and Forecasting Demand
Chapter 4: Conducting Marketing research
Check Your Understanding:
1.
A marketing intelligence system is a set of procedures and sources managers use to obtain _________.
2.
A trend is _________.
3.
_________ shapes the beliefs, values, and norms that largely define tastes and preferences.
4.
The last step in the marketing research process is _____.
5.
Research that is designed to capture cause-and-effect relationships by eliminating competing explanations of observed findings is called _____.
6.
_____ is a coordinated collection of data, systems, tools, and techniques with supporting software and hardware by which an organization gathers and interprets relevant information from business and environment and turns it into a basis for marketing action.
Exercises:
1.
What are the steps a company can take to improve the quality of its marketing intelligence?
2.
The text describes ten megatrends that help shape the consumer landscape. Name these trends.
3.
Online research interviewing is estimated to make up 33% of all survey-based research in 2006. Discuss the pros and cons of using this method of data collection.
Case Study:
How does a company known for being conservative attract a non-conservative target market?
As the company?s ad says, ?You?re in good hands with Allstate!? Allstate Insurance has used this famous phrase to attract customers for some time. This mainstream market approach has served the company well. But even though the company is one of the industry?s leaders, observers began to notice an erosion of market share in some non-traditional sectors. Lifestyle strategies had not received much attention at Allstate. Motorcycle riders, for example, chose competitors Progressive and Geico over Allstate and other conservatively oriented companies. Why would Allstate be interested in targeting motorcycle riders?
The motorcycle market is growing thanks to increased interest from baby boomers and Generation Y consumers. In 2006, 1.2 million motorcycles were sold according to the Motorcycle Industry Council, and sales have been steadily climbing for the last five years. Allstate decided it was time to conduct targeted marketing research or risk losing this growing market. In addition to learning some interesting facts about today?s motorcycle riders, the company?s market research also found that over 600 of its 14,800 agents were devout motorcycle riders themselves. This interesting fact led the company to completely revamp some of its advertising and marketing strategies.
To target motorcycle riders, Allstate has begun featuring some of their bike-riding agents in their ads. The ads indicate that Allstate knows the needs of motorcycle riders better than competitors because the ?good hands? are on handle bars. And who knows the needs of bikers better than other bikers? Acting on additional research information, the company has also begun sponsoring motorcycle rallies and music downloads via Rolling Stone magazine for those people who love the feel of the open road. Follow-up research will determine the success of Allstate?s attempt to bond with this market segment.
Adapted from ?Let?s Ride?The Wild Ones at Allstate,? by Burt Helm, Business Week,October 1, 2007, p. 16.
Case study developed by Dr. John R. Brooks, Jr., Houston Baptist University.
Questions:
What marketing research facts led Allstate to review its advertising and marketing strategies with respect to the motorcycle market?
DISCUSSION –
?A trend is a direction or sequence of events that has some momentum and durability. Trends are more predictable and durable than fads. A trend reveals the shape of the future and provides many opportunities”.What trends do you see developing in your specific industry?
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