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- Exercise 3.5. Pablo, Dirk and Franz run the only bar in town. Pablo wants to sell as many drinks as possible without losing money. Dirk wants the bar to bring in as much revenue as possible. Franz wants to make the largest possible profits. Using a single diagram of the bar's demand curve and its cost curves, show the price and quantity combinations favoured by each of the three partners. Explain.The following table contains different consumers' values for three software titles: PowerPoint, Excel, and Word. Suppose there are 100 consumers of each type. It costs Microsoft $0 to produce each piece of software. Consumer Types Administrative Assistants Marketing/Sales Accountants Price per each Profit on just that software PowerPoint Total profit on all software $76 $200 $25 A la carte pricing If Microsoft were to sell each of the software individually, what price should it set for each and what would its profits on each be? PowerPoint Excel $100 $100 $250 $ Word $200 $125 $25 Excel Word Bundled Pricing If Microsoft were to only sell the three products as a bundle, what price should they set for bundle and what would profits be? Bundled Price $ Total Profit S Mixed Pricing Suppose that Microsoft offered a bundle of all three for $375, but it also offers a price of $200 for each software separately. What is the new profit level for this pricing scheme?$ Is this mixed-pricing scheme…The setting is a Ralph Lauren outlet store, and the product line is Polo golf shirts. A product manager and the General Manager for Outlet Sales are analyzing the discounted price to be offered at the outlet stores. Let’s work through the decision at the level of one color of golf shirts sold per outlet store per day. The decision being made is how low a price to select at the start of any given day to generate sales at that price throughout the day. The demand, revenue, and variable cost information is collected on the following spreadsheet:Questions1. Identify the change in total revenue (the marginal revenue) from the fourth shirt per day. What price reduction was necessary to sell four rather than three shirts?2. Does this fourth shirt earn an operating profit or impose an operating loss? How large is it?3. What is the change in total revenue from lowering the price to sell seven rather than six shirts in each color each day? In what sense is the decision to sell this seventh shirt…
- A brand that has experienced an ethical crisis is Victoria's Secret. They have sweatshops in Sri Lanka and use child labor. People are made to work 14 hours a day unpaid. Victoria's Secret has taken a massive blow to the brand in the past couple of years from the horrible information that has come out about the company. The forced labor in sweatshops is what is causing the company to go down in popularity. Not only do they have unethical practices they are also known for their discrimination of their models and pushing unrealistic body standards on young impressionable girls. Everyone knows the Victoria's Secret angels and how they are known for their perfect bodies but behind-the-scenes models faced racism and were forced to go on deadly diets. Their sizing was never inclusive of plus size until this year. They have also faced scrutiny over their "rebranding" with more diverse models but that does not cover the forced child labor they are using to make their garments. It seems it's…Larry, Curly, and Moe run the only saloon in town.Larry wants to sell as many drinks as possible without losing money. Curly wants the saloon to bring in as much revenue as possible. Moe wants to make the largest possible profits. Using a single diagram of the saloon’s demand curve and its cost curves, show the price and quantity combinations favored by each of the three partners. ExplainAs you review the Facebook site, you note that packagingfor your company’s bread uses the words “heart-healthy.”Would you bring this to the attention of the marketing groupresponsible for product packaging? Or would you look fora way to obscure the package design online? Defend youranswer.
- Suppose there are two types of cable TV viewers. The first type places a high value on sports channels (e.g., ESPN, Fox Sports, and the Golf Channel) and a low value on all other channels. The second type places a high value on music channels (e.g., VH1, MTV3, and CMT) and a low value on all other channels. In this case, we would expect cable operators to: use fixed-cost pricing. use "à la carte" pricing. sell sports and music channels in one bundle to both types of viewers. sell only sports channels to the first type of viewers and sell only music channels to the second type of viewers.Outline the economic factors that affect marketing decisions and consumer buying power.Based on Zangwill (1992). Murray Manufacturing runs a day shift and a night shift. Regardless of the number of units produced, the only production cost during a shift is a setup cost. It costs $8000 to run the day shift and $4500 to run the night shift. Demand for the next two days is as follows: day 1, 2000; night 1, 3000; day 2, 2000; night 2, 3000. It costs $1 per unit to hold a unit in inventory for a shift. a. Determine a production schedule that minimizes the sum of setup and inventory costs. All demand must be met on time. (Note: Not all shifts have to be run.) b. After listening to a seminar on the virtues of the Japanese theory of production, Murray has cut the setup cost of its day shift to $1000 per shift and the setup cost of its night shift to $3500 per shift. Now determine a production schedule that minimizes the sum of setup and inventory costs. All demand must be met on time. Show that the decrease in setup costs has actually raised the average inventory level. Is this…
- Explain it all three subpartsHow will you recall price? List five other words that mean the same thing as price. Compare and contrast fixed and variable costs and give an example of each. Explain market-skimming and market-penetration pricing strategies. Why marketers of innovative high-tech products choose market-skimming pricing rather than market-penetration pricing when launching a new product? Justify your answer.A hair salon offers three services: haircuts, color treatment, and styling. The salon charges $40 for a cut, $65 for color, and $35 for styling. Last month, the salon sold 68 haircuts, 34 color treatments, and 22 styling sessions. If the salon's costs for the month totaled $2850, what was its profit? Instructions: Round your answer to the nearest dollar. $
