Johnson Jensen is a 57-year-old male admitted to the ICU for acute pancreatitis. His mother died 4 months ago, and shortly after that he lost his job. Recently, he has been drinking a gallon of vodka a day. In addition, he has a history of diabetes mellitus. He was brought to the ED by ambulance when his brother found him unresponsive at home. He was intubated in the ambulance on the way to the ED and remains intubated and ventilated due to hypoxia. In the ED, his serum hematocrit was 45%, his WBC 21,000 µL (mm3), BUN 35 mg/dL, creatinine 1.4 mg/dL, blood glucose 425, and serum amylase 1,250 SI units. If he awakens, he writhes in pain. He is currently receiving 5 mg of midazolam an hour,….
Daily Archives: October 1, 2021
Critical Thinking In recent years, for packaged products the FDA has proposed that companies include the percentage daily value for added sugar on the nutrition label. The primary reasoning behind this proposal is that it would provide information on added sugars comparable to what consumers have been exposed to for nutrients such as saturated fat and sodium that the FDA advises should be limited in consumption. Do you think that this update to include added sugar is necessary? Do you believe that this update will alter how people consume and make consumption decisions on products containing added sugars? explain the reasoning behind your answers.
For Further Research (Groups) Select one of the product categories below. Identify two different firms that offer consumers a line of product offerings in the category. For example, Dell, HP, and Apple each market a line of laptop computers, whereas Hoover, Dyson, and Bissell offer lines of vacuum cleaners. Using the Internet or by visiting a retailer who sells your selected product, research the product lines and pricing of the two firms. Based on your research, develop a presentation on the price lining strategies of the two firms. Your presentation should discuss (1) the specific price points of the product offerings of each firm and how the price lining strategy maximizes revenue, (2) your ideas for why the specific price points were selected, (3) how the price lining….
Critical Thinking Penetration pricing is one approach to pricing for a new product launch. It is a helpful tactic to gain initial trials, build market share, discourage competitors, and pursue economies of scale. However, the initial price may set an expectation of value among consumers and essentially position the brand as a low-quality offering. This may result in some consumer resistance to purchasing the new product in the future if prices increase.
In light of this trade-off between benefits and potential risks, to what extent do you think penetration pricing is a suitable approach to helping a new product become successful in the marketplace? Would it be more appropriate to have some form of sales promotion or other incentive to encourage initial sales instead of some form of….
Assume that you are in charge of pricing for a firm that produces pickles. You have fixed costs of $2,000,000. Variable costs are $0.75 per jar of pickles. You are selling your product to retailers for $0.89. You sell the pickles in cases of 24 jars per case.
a. How many jars of pickles must you sell to break even?
b. How much must you sell in dollars to break even?
c. How many jars of pickles must you sell to break even plus make a profit of $300,000?
d. Assume a retailer buys your product for $0.89. His business requires that he prices products with a 35 percent markup on cost. Calculate his selling price.
e. Assume you have an MSRP of $1.39 for the pickles. If a….
n Class, 15–20 Minutes for Teams one of the steps in gauging the marketing communication budget is to determine whether the firm should adopt a push or pull strategy. let’s consider two products that are to be sold through a typical convenience store. the first is a well-known brand of chocolate and the second is an unknown brand of peanuts.
As you can see, both products fall into the snack food category for consumers and are typically bought on an impulse or convenience basis. When it comes to snacks, many consumers like variety and choice.
If you were a marketer responsible for promoting these products, to what extent would you focus on a push or pull strategy for each of them? how would your decision to pursue either….
Critical Thinking sales promotions are designed to generate short-term sales and, as a result, are often associated with some sort of discount or special offer. the end goal is to increase market share through increased volume of purchases and drawing business from consumers switching from competing brands.
However, is there a downside for the brand in using a sales promotion or launching them too frequently? Generally, strong brands like to achieve a price premium in the market to increase their long-term level of profitability. therefore, if a brand frequently uses various price-based sales promotions, how would it impact the brand equity? Would it influence consumers to “rethink” the true value of the brand?
Are there any brands that you are aware of that may have damaged their brand….
You learned that media planners use a variety of metrics to help in making decisions on what tv show or which magazines to include in their media plans. two of these are gross rating points (GRPs) and cost per thousand (CPM). assume you are developing a media plan for a new brand of gourmet frozen meals. Your target market includes females ages 25 to 64. the table that follows lists six possible media buys you are considering for the media plan, along with some relevant information about each (note that the numbers are fictitious, created for example purposes only). the plan is based on a four-week period:
a. Calculate the GRPs for each media buy based on the information given.
b. Calculate the CPM for each media buy.
The hierarchy of effects model (refer to Figure 13.5) highlights the need for different communication goals that will utilize different forms of promotion and tools in order to advance the target market through various awareness, attitudinal, and behavior stages.
For this mini project, you need to design a longterm communications plan for a new business that is planning to provide educational international travel tours for older and retired people. educational travel is becoming more common and is attracting new competitors to the marketplace. therefore, you need to design a long-term communications plan showing how a firm could approach its promotional mix.
Work through the hierarchy of effects model and list some promotional tools that could be used at each stage of the model to achieve success for this….
Creative Homework/Short Project Many firms today are using a variety of buzz-building activities to encourage word-of-mouth communication about their products. Think about a business or place that you and your classmates might visit. You might, for example, think about (1) a specialty coffee shop, (2) a night spot where you and your friends might hang out on the weekends, or (3) a local theme or amusement park. For your selected product, develop ideas for at least three different buzz-building activities. outline the details as to exactly how these activities would be carried out and integrated with more traditional marketing communications. Next, rank order the activities as to which you feel would be the best and tell why you feel that way. Develop a report for your class on….