Answer questions #2 & #3 ill be attaching the two cases that are needed to answer these questions
Answer any two (2) questions. Questions are of equal value (50 points each). . The exam is to be submitted by 11:00 AM, Tuesday, December 1, 2015. You may submit electronically via Blackboard or in a hard copy. The exam is open book, open note and may be attempted on an individual basis or in cooperation with one other fellow student. In the latter circumstance equal contribution is assumed. While you may consult written materials, you are not too discuss your answers with anyone other than your collaborator, if there is one. If you quote substantially from a source it should be cited! Submission of your exam attests to your acceptance of these conditions. Please submit your exam in a unified file, i.e. not a single question in a file. You may submit a scanned copy but .JPEG is not acceptable. MSWord is also welcomed! Include your name on the file itself. Best of luck!
Q#1:MARKETPLACE
a) Discuss how the Principles of Causation have aided you to successfully compete in the Marketplace simulation. Use the framework reproduced below. You need to show that you understand the principles and how such knowledge assisted your competitive effort. Illustrate your answer with at least two specific examples. Also include a brief discussion of productivity.
Causation (Goal Oriented Activity)
Basic requirements
1.Association between cause (C) and effect (E);
2.Time order of occurrence (C precedes E);
3.a)Elimination of alternative explanations
b)Model the causal process.
Complicating issues:
i) Uncontrollable factors
-natural variation
-competitive response
ii) Interaction effects (e.g. nature of a sale)
iii) Lagged (delayed) effects
iv) Non-linear response patterns
v) Multiple effects
vi) Impact of nature of target market or context
b) Compare and contrast the roles of the following objectives (effects) in the MARKETPLACE simulation:
i) market share;
ii) contribution margin;
iii) balanced score card;
iv) creation of wealth.
Q#2 In the Dermavescent case assume the following payoff table (note that it differs from that given in class)
Payoff Table
Low Estimate* High Estimate*
P = .3 P = .7
Aerosol Container
5 Ounce Package$50,000 $95,000
10- Ounce Package-$30,000 $160,000
*Represents the economic condition at the time of the product introduction
a) Calculate
i) EMV 5 oz package= $
ii) EMV 10 oz package= $
iii) EMVPI= $
In each case show your working.
b) Explain the concept of EMVPI. Given the facts of the case, is the proposed research (test market) economically justified? Would you expect the test market to provide perfect information? Briefly explain.
c)Assume that you are risk averse.Use the data above to address each of the circumstances below:
i)if you had to make a one time decision, which package size would you introduce to the market?
ii)if you had to make a routine decision (i.e., a decision to be made many times in sequence), which package size would you choose?
In each of the above situations carefully explain and defend your logic.
d)Now assume that you are a risk taker. Use the data above to address each of the circumstances below:
i)if you had to make a one time decision, which package size would you introduce to the market?
ii)if you had to make a routine decision (i.e., a decision to be made many times in sequence), which package size would you choose?
In each of the above situations carefully explain and defend your logic.
Q#3 a) This question is based on the Janmar Coatings, Inc. case.
The Vice President of Advertising cites Case Exhibit 4 as evidence of the relationship between brand awareness and last brand bought in the Paint market in the DFW market area. Critically evaluate the validity of this research as evidence supporting consumer (brand) advertising. Use the case facts to develop your response.
Note#1: I have calculated a correlation coefficient of 0.99 between brand awareness and last brand bought from the graphical data of Exhibit 4. This is a significant relationship.
Note#2: you are NOT required to evaluate the overall wisdom of consumer (brand) advertising, merely whether the data of Exhibit 4 supports consumer (brand) advertising.
b): Marketing Ethics
i)Discuss the distinctions between Deontological and Consequential ethical reasoning processes. Which philosophy do you find more compelling? Discuss! Include a marketing example.
ii)The exchange reproduced below is from an interview of then Senator (now President) Obama by then Anchorman Charles Gibson of ABC News. Mr. Gibson is pointing to data that indicates that the US Government has collected more tax revenue at lower rates while Mr. Obama wants higher rates as capital gains are an income source primarily accruing to high income (rich) taxpayers and he cites fairness as his criterion.
GIBSON: And in each instance, when the (capital gains tax) rate dropped, revenues from the tax increased; the government took in more money. And in the 1980s, when the tax was increased to 28 percent, the revenues went down. So why raise it at all, especially given the fact that 100 million people in this country own stock and would be affected?
OBAMA: Well, Charlie, what I’ve said is that I would look at raising the capital gains tax for purposes of fairness.
i)Evaluate these 2 positions (high capital gains tax rates versus low capital gains tax rates) from both deontological and consequential ethical perspectives.
ii)Which perspective do you find more persuasive? Explain your reasoning.
iii)Why do you think that lowering the capital gains tax rate results in higher tax collections? Explain
dermavescent_laboratories_inc..pdf(9,16 MiB) janmar_coating_inc_case.pdf(9,93 MiB)
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