Managing during recession
The following post has three assignments namely;
Imagine that you are part of the marketing team of the product X at company ABC, which aims at selling this product in the domestic as well as global markets. You are preparing a marketing strategy
for this product in the second half of 2016. Define the properties of your product and the target markets by using the micro and macroeconomic concepts that we learned in lectures, which will be
used as an input for your marketing strategy. In particular, address the following issues:
a. What are the alternative scenarios with regards to the costs of production (marginal costs like labour costs, raw materials, energy)? Consider the macroeconomic expectations for the second half
of 2016 and different scenarios about the macroeconomic developments and the course of the recession.
b. What type of a good or service is X? What is the price and income elasticity of your product? What is the cross price elasticity with respect to complementary and substitute products?
c. What is the market structure? What are the possible strategies of your competitors? What will be your strategy with respect to your competitors?
e. Think of the developments in demand in different markets domestically and globally. How will demand develop in these markets? What is the effect of the recession on the demand for your product?
How could government policies in different markets affect the demand for your product?
f. Prepare different scenarios about the developments in the currency markets and their effect on the price competitiveness of your company.
Imagine you are a manager at a major bottling company. Customers have begun to complain that the bottles of the brand of soda produced in your company contain less than the advertised sixteen (16)
ounces of product. Your boss wants to solve the problem at hand and has asked you to investigate. You have your employees pull thirty (30) bottles off the line at random from all the shifts at the
bottling plant. You ask your employees to measure the amount of soda there is in each bottle. Note: Use the data set provided by your instructor to complete this assignment. Bottle Number Ounces
Bottle Number Ounces Bottle Number Ounces 1 14.23 11 15.77 21 16.23 2 14.32 12 15.80 22 16.25 3 14.98 13 15.82 23 16.31 4 15.00 14 15.87 24 16.32 5 15.11 15 15.98 25 16.34 6 15.21 16 16.00 26 16.46
7 15.42 17 16.02 27 16.47 8 15.47 18 16.05 28 16.51 9 15.65 19 16.21 29 16.91 10 15.74 20 16.21 30 16.96 Write a two to three (2-3) page report in which you: Calculate the mean, median, and
standard deviation for ounces in the bottles. Construct a 95% Confidence Interval for the ounces in the bottles. Conduct a hypothesis test to verify if the claim that a bottle contains less than
sixteen (16) ounces is supported. Clearly state the logic of your test, the calculations, and the conclusion of your test. Provide the following discussion based on the conclusion of your test: a.
If you conclude that there are less than sixteen (16) ounces in a bottle of soda, speculate on three (3) possible causes. Next, suggest the strategies to avoid the deficit in the future. Or b. If
you conclude that the claim of less soda per bottle is not supported or justified, provide a detailed explanation to your boss about the situation. Include your speculation on the reason(s) behind
the claim, and recommend one (1) strategy geared toward mitigating this issue in the future.
Imagine you are spending the weekend with your family in a location with ZERO technology- no phones, TV, computers, video, radio, etc. How will you spend your weekend? Describe some of the
activities you will do to pass and enjoy the time