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Klamath Company, a manufacturer of ballet shoes, is experiencing a period Answer

Klamath Company, a manufacturer of ballet shoes, is experiencing a period Answer

Klamath Company, a manufacturer of ballet shoes, is experiencing a period Answer

Klamath Company, a manufacturer of ballet shoes, is experiencing a period of sustained growth. In an effort to expand its production capacity to meet the increased demand for its product, the company recently made several acquisitions of plant and equipment. Rob Joffrey, newly hired in the position of fixed-asset accountant, requested that Danny Nolte, Klamath’s controller, review the following transactions. Transaction 1 On June 1, 2010, Klamath Company purchased equipment from Wyandot Corporation. Klamath issued a $28,000, 4-year, zero-interest-bearing note to Wyandot for the new equipment. Klamath will pay off the note in four equal installments due at the end of each of the next 4 years. At the date of the transaction, the prevailing market rate of interest for obligations of this nature was 10%. Freight costs of $425 and installation costs of $500 were incurred in completing this transaction. The appropriate factors for the time value of money at a 10% rate of interest are given below. Future value of $1 for 4 periods 1.46 Future value of an ordinary annuity for 4 periods 4.64 Present value of $1 for 4 periods 0.68 Present value of an ordinary annuity for 4 periods 3.17 Transaction 2 On December 1, 2010, Klamath Company purchased several assets of Yakima Shoes Inc., a small shoe manufacturer whose owner was retiring. The purchase amounted to $220,000 and included the assets listed below. Klamath Company engaged the services of Tennyson Appraisal Inc., an independent appraiser, to determine the fair values of the assets which are also presented below. Yakima Book Value Fair Value Inventory $ 60,000 $ 50,000 Land 40,000 80,000 Building 70,000 120,000 $170,000 $250,000 During its fiscal year ended May 31, 2011, Klamath incurred $8,000 for interest expense in connection with the financing of these assets. Transaction 3 On March 1, 2011, Klamath Company exchanged a number of used trucks plus cash for vacant land adjacent to its plant site. (The exchange has commercial substance.) Klamath intends to use the land for a parking lot. The trucks had a combined book value of $35,000, as Klamath had recorded $20,000 of accumulated depreciation against these assets. Klamath’s purchasing agent, who has had previous dealings in the secondhand market, indicated that the trucks had a fair value of $46,000 at the time of the transaction. In addition to the trucks, Klamath Company paid $19,000 cash for the land. Instructions (a) Plant assets such as land, buildings, and equipment receive special accounting treatment. Describe the major characteristics of these assets that differentiate them from other types of assets. (b) For each of the three transactions described above, determine the value at which Klamath Company should record the acquired assets. Support your calculations with an explanation of the underlying rationale. (c) The books of Klamath Company show the following additional transactions for the fiscal year ended May 31, 2011. 1. Acquisition of a building for speculative purposes. 2. Purchase of a 2-year insurance policy covering plant equipment. 3. Purchase of the rights for the exclusive use of a process used in the manufacture of ballet shoes. For each of these transactions, indicate whether the asset should be classified as a plant asset. If it is a plant asset, explain why it is. If it is not a plant asset, explain why not, and identify the proper classification.

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Klamath Company, a manufacturer of ballet shoes, is experiencing a period Answer

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MIS 535 Managerial Appls of Info Tech Week 8 Final Exam answer

MIS 535 Managerial Appls of Info Tech Week 8 Final Exam answer

MIS 535 Managerial Appls of Info Tech_Week 8 _Final Exam_ 100% correct answer

MIS 535 Managerial Appls of Info Tech_Week 8 _Final Exam_ 100% correct answer

Week 8 : Wk8 – Final Exam

1. (TCO A) Based on the examples in the chapter, if you were asked to formulate a plan for a regional drive-in restaurant chain’s efforts to use information technology to develop a loyal customer base, what would be the best use of information technology from the list below? (Points : 10)
Use IT to increase supplier loyalty.
Use IT to increase operational efficiency.
Use IT to create new products and business models.
Use IT to achieve customer intimacy.

2. (TCO B) ________ are visual tools for presenting performance data in a BI system. (Points : 10)
Dashboards and scorecards
Parameterized reports
Reports and the drill-down feature
Scenarios and models

3. (TCO C) A DBMS makes the (Points : 10)
physical database available for different logical views.
logical database available for different analytical views.
physical database available for different analytical views.
logical database available for different physical views.

4. (TCO D) Cloud computing requires (Points : 10)
less energy consumption
additional servers and thus additional energy to communicate through the Internet to the cloud
IT organizations to increase staffing levels
Employees to have fewer applications and databases

5. (TCO E) Enterprise applications have become easier to install because: (Points : 10)
they have been reduced in function
vendors have modularized the applications so they can be rolled out a module at a time
vendors have changed their design to make the application more adaptable to diverse business processes
Users have become more familiar with how to use the applications

6. (TCO F) In the traditional systems development lifecycle, end users (Points : 10)
are important and ongoing members of the team from the original analysis phase through maintenance.
are important only in the testing phases.
have no input.
are limited to providing information requirements and reviewing the technical staff’s work.

7. (TCO G) Electronic data are more susceptible to destruction, fraud, error, and misuse because information systems concentrate data in computer files that (Points : 10)
are usually bound up in legacy systems that are difficult to access and difficult to correct in case of error.
are not secure because the technology to secure them did not exist at the time the files were created.
have the potential to be accessed by large numbers of people and by groups outside of the organization.
are frequently available on the Internet.

Page 2

1. (TCO G) Discuss the issue of security challenges on the Internet as that issue applies to a global enterprise. List at least 5 Internet security challenges. (Points : 40)

2. (TCO F) What qualities of object-oriented development make this method especially suitable for Internet applications? (Points : 40)

3. (TCO E) Explain why standards are so important in information technology? What standards have been important for the growth of Internet technologies? (Points : 40)

4. (TCO D) What is cloud computing and how do you think its developments could impact businesses? (Points : 40)

5. (TCO C) IF you were to design the new contracts database for a publishing house what fields do you anticipate needing? Which of these fields might be in use in other databases used by the company? (Points : 40)

6. (TCO B) You are advising the owner of Small town Computer, a new, local computer repair store that also builds custom computers to order. What competitive strategies could Small town Computer exert? Which ones will it have difficulty exercising? (Points : 40)

7. TCO (A) You work for an auto manufacturer and distributor. How could you use information systems to achieve greater customer intimacy? (Points : 40)

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MGT 340 Business Systems Analysis week 8 Final Exam Complete Answer

MGT 340 Business Systems Analysis week 8 Final Exam Complete Answer

MGT 340 Business Systems Analysis week 8 Final Exam Complete Answer

Week 8 : Final Exam – Final Exam – Final Exam

Question 1. 1. (TCO 1) The process of developing and maintaining an information system best describes: (Points : 5)
joint application design.
prototyping.
information systems analysis and design.
information technology infrastructure development.
systems implementation.

Question 2. 2. (TCO 1) When developing information systems, an organization could use: (Points : 5)
an information technology services firm.
open-source software.
cloud computing.
in-house development.
all of the above.

Question 3. 3. (TCO 2) A planned undertaking of related activities to reach an objective that has a beginning and an end best defines: (Points : 5)
task development.
activity plan.
project.
task schedule.
project mission.

Question 4. 4. (TCO 2) Which of the following would be classified as an intangible cost? (Points : 5)
Hardware costs
Labor costs
Employee morale
Operational costs
Internet service setup fee

Question 5. 5. (TCO 2) Which of the following is one of the three primary activities associated with identifying and selecting IS development projects? (Points : 5)
Preliminary investigation of the system problem or opportunity
Identification of potential development projects
Requirements determination
Generate alternative initial designs
Requirements structuring

Question 6. 6. (TCO 2) The Baseline Project Plan: (Points : 5)
contains all information collected and analyzed during project initiation and planning.
specifies detailed project activities for the next life cycle phase, analysis, and less detail for subsequent project phases.
is used by the project selection committee to help decide if the project should be accepted, redirected, or canceled.
reflects the best estimate of the project’s scope, benefits, costs, risks, and resource requirements given the current understanding of the project.
does all of the above.

Question 7. 7. (TCO 3) The reframing characteristic of a good systems analyst is represented by which of the following statements? (Points : 5)
You must challenge yourself to look at the organization in new ways.
Every fact must fit with every other fact.
Assume anything is possible, and eliminate the infeasible.
You should question everything.
Your role is to find the best solution to a business problem.

Question 8. 8. (TCO 3) Drawbacks to prototyping include: (Points : 5)
a tendency to avoid creating formal documentation of systems requirements which can then make the system more difficult to develop into a fully working system.
prototypes becoming very idiosyncratic to the initial user and difficult to diffuse or adapt to other potential users.
prototypes are often built as stand-alone systems.
checks in the SDLC are bypassed so that some more subtle, but still important, system requirements might be forgotten.
all of the above.

Question 9. 9. (TCO 3) Good interview guidelines consist of: (Points : 5)
phrasing the question to illicit the correct response.
typing your notes within two weeks of the interview.
establishing expectation levels about the new system.
seeking a variety of perspectives from the interviews.
using as much time as you need.

Question 10. 10. (TCO 3) Which of the following is a traditional method of collecting systems requirements? (Points : 5)
Business process reengineering
Observations
Joint application design
Rapid application development
Prototyping

Question 11. 11. (TCO 4) The diagram that shows the scope of the system, indicating what elements are inside and outside the system, is called a: (Points : 5)
context diagram.
level-2 diagram.
referencing diagram.
representative diagram.
decomposition diagram.

Question 12. 12. (TCO 5) A person, place, object, event, or concept in the user environment about which the organization wishes to maintain data refers to a(n): (Points : 5)
attribute.
data element.
relationship.
entity.
process.

Question 13. 13. (TCO 6) Shaping alternative system design strategies involves: (Points : 5)
enumerating different potential implementation environments.
proposing different ways to source or acquire the various sets of capabilities for the different implementation environments.
dividing requirements into different sets of capabilities.
all of the above.
none of the above.

Question 14. 14. (TCO 7) Which of the following are general guidelines for displaying tables and lists? (Points : 5)
All columns and rows should have meaningful labels.
Place a blank line between every five rows in long columns.
Use the same family of typefaces within and across displays and reports.
Allow white space on printed reports for the user to write notes.
All of the above are guidelines for displaying tables and lists.

Question 15. 15. (TCO 7) Which of the following is a guideline for displaying text? (Points : 5)
Use double spacing if space permits.
Do not hyphenate words between lines.
Left-justify text and leave a ragged right margin.
Display text in mixed upper and lowercase and use conventional punctuation.
All of the above are guidelines for displaying text.

Question 16. 16. (TCO 7) All of the following are types of file organizations EXCEPT: (Points : 5)
indexed.
sequential.
hashed.
logical.

Question 17. 17. (TCO 8) Benefits of the object-oriented modeling approach include: (Points : 5)
the ability to tackle more challenging problem domains.
improved communication among users, analysts, designers, and programmers.
reusability of analysis, design, and programming results.
increased consistency among the models developed during object-oriented analysis, design, and programming.
all of the above.

Question 18. 18. (TCO 8) The Agile Software Development anarchists value: (Points : 5)
contract negotiation over customer collaboration.
processes and tools over individuals and interactions.
following a plan over responding to change.
working software over comprehensive documentation.
joint application development over rapid application design.

Question 19. 19. (TCO 9) System documentation that is part of the program source code or is generated at compile time best defines: (Points : 5)
system documentation.
user documentation.
internal documentation.
external documentation.
embedded documentation.

Question 20. 20. (TCO 9) Changing over from the old information system to a new one by turning off the old system as the new one is turned on best describes: (Points : 5)
phased installation.
single location installation.
parallel installation.
direct installation.
rotation installation.

Page: 1 2

Page:

Essay Questions

Question 1. 1. (TCO 1) Describe the role of a systems analyst. (Points : 10)

Question 2. 2. (TCO 2) Discuss the six major categories of feasibility. (Points : 10)

Question 3. 3. (TCO 3) Identify and describe the traditional methods for determining requirements. (Points : 10)

Question 4. 4. (TCO 4) What is gap analysis? Why is gap analysis useful? (Points : 10)

Question 5. 5. (TCO 5) Discuss unary, binary, and ternary relationships. (Points : 10)

Question 6. 6. (TCO 6) Judge and select the best source of software for the following scenario: The owner of two pizza parlors located in adjacent towns wants to computerize and integrate sales transactions and inventory management within and between both stores. The point-of-sale component must be very easy to use and flexible enough to accommodate a variety of pricing strategies and coupons. The inventory management, which will be linked to the point-of-sale component, must also be easy to use and fast. The systems at each store need to be linked so that sales and inventory levels can be determined instantly for each store and for both stores combined. The owner can allocate $40,000 for hardware and $20,000 for software and must have the new system operational in three months. Training must be very short and easy. (Points : 10)

Question 7. 7. (TCO 7) Identify and describe validation tests and techniques used to enhance the validity of data input. (Points : 10)

Question 8. 8. (TCO 8) What is meant by Agile Methodologies? Identify the three key principles that the Agile Methodologies share. (Points : 10)

Question 9. 9. (TCO 9) Define system documentation, user documentation, internal documentation, and external documentation. (Points : 10)

Question 10. 10. (TCO 9) Describe four types of maintenance. (Points : 10)

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PROJ 584 Managing SW Devel Projects Week 8 Final Exam Complete A+ Answer

PROJ 584 Managing SW Devel Projects Week 8 Final Exam Complete A+ Answer

PROJ 584 Managing SW Devel Projects Week 8 Final Exam Complete Answer

Week 8 : Final Exam – Final Exam

Question 1. 1. (TCO A) Software projects are typically organized in one of four ways. Name and briefly describe each one of these organizational structures. (Points : 25)

Question 2. 2. (TCO B) What are some techniques for identifying risk factors? Describe five such techniques in detail. (Points : 25)

Question 3. 3. (TCO C) What is requirements development? List and briefly describe the seven kinds of activities that requirements development encompasses. (Points : 25)

Question 4. 4. (TCO D) What is the difference between managing versus leading? Describe some attributes of effective leaders. What are the factors that contribute to efficient and effective software engineering teams? (Points : 25)

Question 5. 5. (TCO E) What is rolling-wave planning? List the 15 guidelines for designing work breakdown structures (WBSs). (Points : 25)

Question 6. 6. (TCO F) List and briefly describe five pragmatic estimation techniques. Which would use choose as the top two? (Points : 25)

Question 7. 7. (TCO G) What is the difference between verification and validation? As a project manager, would you choose one over the other? (Points : 25)

Question 8. 8. (TCO E) What is the work breakdown structure and why is the process of preparing it so important? What baseline does the WBS define? (Points : 25)

Question 9. 9. (TCO D) Briefly summarize the three models of personality. What are the dimensions of social styles? In a five-layer behavioral model, how does the size and structure of a project determine how much influence each layer has on the software development process? (Points : 25)

Question 10. 10. (TCO C) Over the last 7 weeks of this course we’ve briefly discussed the CMMI-DEV project planning process area. According to the CMMI-DEV-v1.2 process framework [CMMI06], what are the specific goals and practices of project planning? What are the four related process areas? (Points : 25)

 

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MGMT 530 Managerial Decision-Making Final Exam Complete A+ Correct Answer

MGMT 530 Managerial Decision-Making Final Exam Complete Answer

(TCOs A, B, C, D, E, F, G and H) Tidewater Services recently celebrated its 10th anniversary as a professional services firm that handles investigations for law firms offering amenities, such as background checks, surveillance, interviewing of witnesses, crash scene investigation, and other related services.
The company was founded by Lee Herbert who had extensive experience working for companies that handle investigative work. Herbert is more of a people person and is always looking for the next new client to take on. Admittedly, Herbert had no experience in running a business when he decided to go out on his own and enlisted the help of his long time friend, Bradley Simmons.
Simmons has spent his career working for larger corporations in finance and had no experience in investigative services, but was looking for a change.
Over the 10 years since the company’s founding, Tidewater Services struggled at first but slowly grew over the last five years. The more law firms the company works with, the more cases they receive. The more cases they receive, the more hours they can bill. Tidewater currently has six investigators and two clerks in addition to Herbert and Simmons. Over the years, they have expanded and contracted based on the volume of business and the local economy.
Based in Norfolk, Virginia, Herbert is really interested in expanding the business to other major cities in the region, believing that “there are only so many law firms here in Norfolk.” He feels that if they’ve survived 10 years, then they should continue to focus on growing the business. Simmons, on the other hand, feels that expansion will put the company at risk as it takes time to develop a decent client base. They had opened a second office several years back across town but eventually closed it when it didn’t generate enough revenue to cover expenses. He’s worried the expansion may bankrupt the company.
Even though the two are business partners, Herbert is the president and Simmons the vice president. Herbert asked Simmons to evaluate several options to further expand the business. From Herbert’s perspective, he has concluded that three objectives are important in this decision. First, is to find a city with a large number of Fortune 500 companies, a cost of living comparable to Norfolk, and a city that is in a reasonable distance from Norfolk as he and Simmons would be spending a lot of time in the new office at first. Because both have families with young children, Herbert feels that the distance is twice as important as the other criteria.
Here is the summary of Simmons’ research.
I. Richmond, Virginia: Number of Fortune 500 Companies: 5; Cost of Living Comparison: 0.934 (less than Norfolk); Driving Distance: 81 miles

II. Charlotte, North Carolina: Number of Fortune 500 Companies: 7; Cost of Living Comparison: 0.834 (less than Norfolk); Driving Distance: 283 miles
III. Atlanta, Georgia: Number of Fortune 500 Companies: 10; Cost of Living Comparison: 0.854 (less than Norfolk); Driving Distance: 503 miles
Question 1. Define the decision problem and the general nature of the problem. (20 Points)
Question 2. What event triggered
Question 3. Are we imposing any implied constraints on the situation
Question 4. Define the objectives
Question 5. Identify the alternatives
Question 6. Compare and contrast the consequences for all three alternatives by the fundamental objectives. Rank each alternative using proportional scoring, include weights on the objectives. Are there any dominated alternatives that can be eliminated? Are there any even swaps.
Question 7. What decision-making styles are at work here? What is their attitude towards risk?
Question 8. Are there any biases in play here that may impact the effectiveness of the decision?
Question 9. What are the uncertainties for this decision situation? What are their consequences?
Question 10. Evaluate this decision situation using tradeoffs. What location should they select? Are there any linked decisions? Discuss any assumptions as needed.

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MKTG 522 Marketing Management Week 8 Final Exam Complete Set 1, set 2 and set 3 Complete Answer

MKTG 522 Marketing Management Week 8 Final Exam Complete Set 1, set 2 and set 3 A+ Answer

Set 1

Week 8 : Final Exam – Final Exam

Question 1. 1. (TCO B) What are the advantages of using secondary data over primary data when doing Market Research? Disadvantages? How might Primary Data be obtained? Benefits? Disadvantages?

Question 2. 2. (TCO C) Choose a specific brand (i.e., Coke, Nike, McDonalds, etc.). Using this brand as an example, describe what makes this a unique brand that is easily recognizable by consumers. What do you, as a consumer, think of when you see this brand logo? How would you describe a Brand? What roles do Brands play in the market and what signals success?

Question 3. 3. (TCO H) Marketers recognize that the marketing of services is different than the marketing of a product because of the different characteristics that distinguish them from physical products. What are these distinguishing characteristics? How do marketers communicate the value of services to consumers? How do they make these intangible services appear tangible to the consumer?

What are some marketing strategies that might be employed with services to ensure positive results with these distinguishing characteristics (choose at least two)? In your answer, provide an example of a service to which your strategies would be utilized.

Question 4. 4. (TCO D) An increasing number of companies are basing their prices on the customer’s perceived value of the product or service. Explain the concept of perceived value pricing. What is the “key” to pricing in this manner? How might the marketer determine the price that the consumer might pay in exchange for that value that they receive?

Question 5. 5. (TCO F) You are the Sales Manager for your company. Your sales team is one that, once they gain the initial sale, enjoys considerable repeat business. Sales reps are paid a base of $35K and their commission package can add as much as $49K a year (average). Top producers make as much as $65K a year in commission–along with their base pay, they make $100K.
Sales reps have not been aggressive in pursuing new business. They have become comfortable in making repeated sales calls on their existing customers “to be visible” and to handle any issues.
Your VP of Sales wants to see a 12% increase in NEW business next year. How might you structure the compensation plan to drive selling behaviors that would result in more effort being made to gain new business?

Page 2

Question 1. 1. (TCO E) Designing a marketing channel system requires analyzing customer needs, establishing channel objectives, and identifying and evaluating major channel alternatives. It is important to understand what the customer expects channels of distribution or channel members will provide them. Consumers desire certain key service outputs: lot size, waiting and delivery time, spatial convenience, product variety, and service backup. How does each of these affect the design of the marketing channel?

Question 2. 2. (TCO I) When a company chooses their distribution channels, they must keep in mind that each channel member must be given the opportunity to be profitable. The main elements in the “trade-relations mix” are Price policy, Conditions of sale, Distributors’ territorial rights, and Mutual services and responsibilities. Explain how these terms of doing business can affect the profitability of all channel members.

Question 3. 3. (TCO J) Direct marketing can involve many different types of media. What are some of the potential ethical issues that marketers much address when transmitting their marketing message to consumers?

Question 4. 4. (TCO A)Now that you have completed your Final Draft of your Marketing Plan, were you to begin anew, what would you have done differently insofar as your RESEARCH effort? What would have been your Definition of the Problem? What information would you have liked to have obtained? As you answer the question, assume reasonable monies for market research have NOW been made available to you to do market research… that were unavailable to you previously. Please be sure to provide a graduate level response based on the marketing principals learned in class.

Be sure to refresh your instructor’s mind by providing one sentence that communicates what your Marketing Plan brought to market.

Question 5. 5. (TCO G) What is integrated marketing communications? To whom is it targeted? Why is it key to a company’s success in the 21st century? (Use your own words.)

Set 2

1. (TCO B) What are the advantages of qualitative measurements when doing marketing research? What are the disadvantages? Do qualitative measurements negate the need for quantitative measurements? Please justify your answer. Be sure to answer all questions..

2. (TCO C) Choose a specific brand (i.e., Coke, Nike, McDonalds, etc.). Using this brand as an example, describe what makes this a unique brand that is easily recognizable by consumers. What do you, as a consumer, think of when you see this brand logo? How would you describe a Brand? What roles do Brands play in the market and what signals success?

2. (TCO C) Choose a specific brand (i.e., Coke, Nike, McDonalds, etc.). Using this brand as an example, describe what makes this a unique brand that is easily recognizable by consumers. What do you, as a consumer, think of when you see this brand logo? How would you describe a Brand? What roles do Brands play in the market and what signals success?

3. TCO H) New products fail at a very high rate, often greater than 75%. Demonstrate a graduate-level response that communicates your in depth rationale for why so many products fail upon their introduction. Based on this, to what should marketers be sensitive when introducing a product that is new to the market?

4. (TCO D) An increasing number of companies is basing their prices on the customer’s perceived value of the product or service. Explain the concept of perceived value pricing. What is the “key” to pricing in this manner? How might the marketer determine the price that the consumer might pay in exchange for that value that they receive?

5. (TCO F) Edward Adams is the new sales manager for Wolfe Corporation. He has just come aboard to head up a sales force of seventy sales professionals, all of whom possess at least a Bachelors degree, many of whom have Masters Degrees. Mr. Adams’ sales reps sell highly complex instrumentation systems that are used to analyze a variety of different materials in laboratory environments. The instruments, sixteen in total, are used to analyze gases, liquids, and blood. Each product is very technical and customers expect their Wolfe sales rep to be very knowledgeable about the technical applications and analysis requirements of their laboratories. Each sales professional covers an assigned territory, which usually comprises one to two states depending upon the geographic area and amount of industry. The sales team has been divided into twelve teams around the country, with each team having its own sales manager and five to nine sales reps, all of whom call on a variety of customers. Sales teams operate out of the same office, located in a major metropolitan area (e.g., Boston, Dallas, San Francisco, Atlanta, etc). Sales rep turnover has been about 15% annually the past few years, and Mr. Adams sees it as imperative that he do something about this. Annual sales have been averaging a 3-5% increase each year over the past five years, but the corporate president wants more. Your competition has been averaging 6-8% sales growth increases in revenue each year. Analyze the sales force structure. What is the current sales force strategy that is being used? What might be the limitations of the current sales force structure? What changes, if any, would you suggest that Mr. Adams consider making to the sales force structure to affect increased sales?

.
6. (TCO E) Designing a marketing channel system requires analyzing customer needs, establishing channel objectives, and identifying and evaluating major channel alternatives. It is important to understand what the customer expects channels of distribution or channel members will provide them. Consumers desire certain key service outputs: lot size, waiting and delivery time, spatial convenience, product variety, and service backup. How does each of these affect the design of the marketing channel?

7. (TCO I) Many companies state their market logistics objective as “getting the right goods to the right places at the right time for the least cost.” Looking at these market logistics objectives, what are the different cost factors that need to be taken into consideration when looking at the total cost for effectively delivering a target level of customer service?

8. (TCO J) Direct marketing can involve many different types of media. What are some of the potential ethical issues that marketers much address when transmitting their marketing message to consumers?

9. (TCO A) Now that you have completed the Final Draft of your Marketing Plan, were you to begin anew, what would you have done differently insofar as your efforts to segment your TARGET MARKET and your efforts to reach that TARGET MARKET via your promotional mix? What would you have done differently? Please be sure to provide a graduate level response based on the marketing principals learned in class. Be sure to refresh your instructor’s mind by providing one sentence that communicates what your Marketing Plan brought to market.

10. (TCO G) You are the media planner for an advertising agency, responsible for the placement of your client’s ads in various media. Your client’s product is a “smart” robotic lawnmower (Robo-mower) that one can easily “program” to cut a home lawn. Robo-mower will only cut grass within its programmed area and it will avoid flower beds, rocks, sidewalks, etc., while you sit in the hammock, enjoying the summer! An emergency “cut-off” switch brings it to a full stop in one-quarter of a second. Select four (4) advertising media that you would consider for an ad placement and indicate THREE (3) advantages and THREE (3) disadvantages of those that you select for advertising the Robo-mower. Failure to provide all of the requested information will result in a loss of points.

Set 3

Question 1. 1. (TCO B) Your company has developed a new educational electronic game. Your target market is 4-6 year old children. What research methods would you use to test this product concept? Choose at least three methods that you believe will provide valuable information, and describe your research strategy. (Points : 25)

Question 2. 2. (TCO C) Choose a specific brand (i.e., Coke, Nike, McDonalds, etc.). Using this brand as an example, describe what makes this a unique brand that is easily recognizable by consumers. What do you, as a consumer, think of when you see this brand logo? How would you describe a Brand? What roles do Brands play in the market and what signals success? (Points : 25)

Question 3. 3. (TCO H) Marketers recognize that the marketing of services is different than the marketing of a product because of the different characteristics that distinguish them from physical products. What are these distinguishing characteristics? How do marketers communicate the value of services to consumers? How do they make these intangible services appear tangible to the consumer?

What are some marketing strategies that might be employed with services to ensure positive results with these distinguishing characteristics (choose at least two)? In your answer, provide an example of a service to which your strategies would be utilized.
(Points : 25)

Question 4. 4. (TCO D) Your company manufactures a quality line of home kitchen appliances, refrigerators, stoves, dishwashers, and so forth, and you are highly competitive with companies such GE, Frigidaire, KitchenAid, Whirlpool, LG, and others. The market is quite price sensitive.
You’ve just learned that your primary competitor has cut their prices to the consumer by 7%. What might be some reasons that would support their decision to make a price reduction? What should be your thoughtful reaction?
(Points : 25)

Question 5. 5. (TCO F) You are the Sales Manager for your company. Your sales team is one that, once they gain the initial sale, enjoys considerable repeat business. Sales reps are paid a base of $35K and their commission package can add as much as $49K a year (average). Top producers make as much as $65K a year in commission–along with their base pay, they make $100K.
Sales reps have not been aggressive in pursuing new business. They have become comfortable in making repeated sales calls on their existing customers “to be visible” and to handle any issues.
Your VP of Sales wants to see a 12% increase in NEW business next year. How might you structure the compensation plan to drive selling behaviors that would result in more effort being made to gain new business?
(Points : 25)

Page 2

Question 1. 1. (TCO E) Designing a marketing channel system requires analyzing customer needs, establishing channel objectives, and identifying and evaluating major channel alternatives. It is important to understand what the customer expects channels of distribution or channel members will provide them. Consumers desire certain key service outputs: lot size, waiting and delivery time, spatial convenience, product variety, and service backup. How does each of these affect the design of the marketing channel? (Points : 25)

Question 2. 2. (TCO I) When a company chooses their distribution channels, they must keep in mind that each channel member must be given the opportunity to be profitable. The main elements in the “trade-relations mix” are Price policy, Conditions of sale, Distributors’ territorial rights, and Mutual services and responsibilities. Explain how these terms of doing business can affect the profitability of all channel members.

Question 3. 3. (TCO J) With the memory of the many companies showing poor judgment and poor ethics, such as B&P, Toyota, Enron, WorldCom, Arthur Andersen, and others fresh in your mind, you have been asked to advise your company’s CEO on to how to minimize the risk of a similar event occurring at your company.
Specifically, what recommendations would you make to your CEO that would minimize unethical business and marketing practices by your employees, such as those alleged to have occurred at these and other companies?

Question 4. 4. (TCO A)Now that you have completed your Final Draft of your Marketing Plan, were you to begin anew, what would you have done differently insofar as your RESEARCH effort? What would have been your Definition of the Problem? What information would you have liked to have obtained? As you answer the question, assume reasonable monies for market research have NOW been made available to you to do market research… that were unavailable to you previously. Please be sure to provide a graduate level response based on the marketing principals learned in class.

Be sure to refresh your instructor’s mind by providing one sentence that communicates what your Marketing Plan brought to market.

Question 5. 5. (TCO G) You are the media planner for an advertising agency, responsible for the placement of your client’s ads in various media. Your client’s product is a “smart” robotic lawnmower (Robo-mower) that one can easily “program” to cut a home lawn. Robo-mower will only cut grass within its programmed area and it will avoid flower beds, rocks, sidewalks, etc., while you sit in the hammock, enjoying the summer! An emergency “cut-off” switch brings it to a full stop in one-quarter of a second.
Select four (4) advertising media that you would consider for an ad placement and indicate THREE (3) advantages and THREE (3) disadvantages of those that you select for advertising the Robo-mower.
Failure to provide all of the requested information will result in a loss of points.

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GM 533 Applied Managerial Statistics Final Exam Answer

GM 533 Applied Managerial Statistics Final Exam Complete A+ Answer


1. (TCO D) PuttingPeople2Work has a growing business placing out-of-work MBAs. They claim they can place a client in a job in their field in less than 36 weeks. You are given the following data from a sample.
Sample size: 100
Population standard deviation: 5
Sample mean: 34.2
Formulate a hypothesis test to evaluate the claim. (Points : 10)
Ho: µ = 36; Ha: µ ≠ 36
Ho: µ ≥ 36; Ha: µ < 36 Ho: µ ≤ 34.2; Ha: µ > 34.2
Ho: µ > 36; Ha: µ ≤ 36

2. (TCO B) The Republican party is interested in studying the number of republicans that might vote in a particular congressional district. Assume that the number of voters is binomially distributed by party affiliation (either republican or not republican). If 10 people show up at the polls, determine the following:

Binomial distribution

10 n
0.5 p

X P(X) cumulative
probability
0 0.00098 0.00098
1 0.00977 0.01074
2 0.04395 0.05469
3 0.11719 0.17188
4 0.20508 0.37695
5 0.24609 0.62305
6 0.20508 0.82813
7 0.11719 0.94531
8 0.04395 0.98926
9 0.00977 0.99902
10 0.00098 1.00000

What is the probability that no more than four will be republicans? (Points : 10)
38%
12%
21%
62%

3. (TCO A) Company ABC had sales per month as listed below. Using the Minitab output given, determine:
(A) Range (5 points);
(B) Median (5 points); and
(C) The range of the data that would contain 68% of the results. (5 points).
Raw data: sales/month (Millions of $)
23
45
34
34
56
67
54
34
45
56
23
19

Descriptive Statistics: Sales
Variable Total Count Mean StDev Variance Minimum Maximum Range
Sales 12 40.83 15.39 236.88 19.00 67.00 48.00

Stem-and-Leaf Display: Sales
Stem-and-leaf of Sales N = 12
Leaf Unit = 1.0
1 1 9
3 2 33
3 2
6 3 444
6 3
6 4
6 4 55
4 5 4
3 5 66
1 6
1 6 7

Reference:
(TCO A) Company ABC had sales per month as listed below. Using the MegaStat output given, determine:
(A) Range (5 points)
(B) Median (5 points)
(C) The range of the data that would contain 68% of the results. (5 points)

Raw data: sales/month (Millions of $)
19
34
23
34
56
45
35
36
46
47
19
23

4. (TCO C, D) Tesla Motors needs to buy axles for their new car. They are considering using Chris Cross Manufacturing as a vendor. Tesla’s requirement is that 95% of the axles are 100 cm ± 2 cm. The following data is from a test run from Chris Cross Manufacturing. Should Tesla select them as a vendor? Explain your answer.

Descriptive statistics

count 16
mean 99.850
sample variance 4.627
sample standard deviation 2.151
minimum 96.9
maximum 104
range 7.1
population variance 4.338
population standard deviation 2.083
standard error of the mean 0.538
tolerance interval 95.45% lower 95.548
tolerance interval 95.45% upper 104.152
margin of error 4.302
1st quartile 98.850
median 99.200
3rd quartile 100.550
interquartile range 1.700
mode 103.000
(Points : 25)

5. (TCO D) A PC manufacturer claims that no more than 2% of their machines are defective. In a random sample of 100 machines, it is found that 4.5% are defective. The manufacturer claims this is a fluke of the sample. At a .02 level of significance, test the manufacturer’s claim, and explain your answer.

Test and CI for One Proportion
Test of p = 0.02 vs p > 0.02

Sample X N Sample p 98% Lower Bound Z-Value P-Value
1 4 100 0.040000 0.000000 1.43 0.077

Finals page 2
1. (TCO B) The following table gives the number of visits to recreational facilities by kind and geographical region.
(Points : 30)

finals 2 -2
2. (TCO B, F) The length of time Americans exercise each week is normally distributed with a mean of 15.8 minutes and a standard deviation of 2.2 minutes

X P(X≤x) P(X≥x) Mean Std dev
11 .0146 .9854 15.8 2.2
15 .3581 .6419 15.8 2.2
21 .9910 .0090 15.8 2.2
24 .9999 .0001 15.8 2.2
p(lower) p(upper)

(A) Analyze the output above to determine what percentage of Americans will exercise between 11 and 21 minutes per week. (15 points)
(B) What percentage of Americans will exercise less than 15 minutes? If 1000 Americans were evaluated, how many would you expect to have exercised less than 15 minutes? (15 points) (Points : 30)

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MGMT 550 Managerial Communication Week 8 Final Exam A+ Answer

MGMT 550 Managerial Communication Week 8 Final Exam A+ Answer

MGMT 550 Managerial Communication Week 8 Final Exam A+ Answer

Question 1. 1. (TCO D) How would you respond to a claim by a customer for something that is clearly not your company’s fault? Customer Joe Samuel forgot to cancel his hotel reservation. When he received his credit card bill, he saw that he was charged for a night that he did not spend in the hotel. He was clearly upset. Instead of contacting customer service or the hotel, he went to the Internet and started blogging his complaints on the travel websites and Twitter. How would you handle this situation? How would you resolve the issue and respond to the customer’s concerns both personally and online? What would you say?

Question 2. 2. (TCO E) Should email be used to deliver bad news or should bad news be handled person to person or over the phone? What are some of the advantages when delivering the bad news by email?

Question 3. 3. (TCO F) What type of information should be included on your resume?

Question 4. 4. (TCO G) Now that you have completed your group project powerpoint presentation, put yourself into the shoes of the CEOs sitting in the audience. Do you believe that they would agree to your social media plan proposal? In hindsight, what would you have done differently?

Question 5. 5. (TCO C) Should you use humor in a presentation? How could inappropriate humor in a presentation damage your credibility? Should you eliminate all humor?

Page 2

Question 1. 1. Describe at least four guidelines to remember when asking questions in a routine request.

Question 2. 2. What are the four main criteria for evaluating the quality of Internet resources? What are the basic concepts for each criterion?

Question 3. 3. List five of the top ten “pet peeves” that recruiters listed as issues when reading résumés.

Question 4. 4. What are the five general guidelines for writing goodwill messages?

Question 5. 5. List the three directions of communication and describe the types of communication that occur in each. Explain one problem that can occur in each direction.

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ACCT 553 Fed Taxes Mgmt Decisions Final Exam all correct Answer

ACCT 553 Fed Taxes Mgmt Decisions Final Exam Complete A+ Answer

ACCT 553 Fed Taxes Mgmt Decisions Final Exam Complete A+ Answer

ACCT 553 Fed Taxes Mgmt Decisions Final Exam Complete A+ Answer

1. (TCO E) For federal tax purposes, income attributable to the direct efforts of the tax payer, such as salary, is classified as: (Points : 5)
portfolio income.
active income.
passive income.
None of the above

2. (TCO D) Which of the following is an example of a nontaxable like-kind exchange? (Points : 5)
An ice cream making machine for inventory of Rocky Road ice cream
Land for an office building
Office equipment for a computer
All of the above

3. (TCO H) Alex and Amy file a joint return for the 2012 tax year. Their adjusted gross income is $90,000. They had net investment income of $8,000. In 2012, they had the following interest expenses:
• Personal credit card interest: $5,000
• Home mortgage interest: $10,000
• Interest paid on qualified education loans: $2,000
• Investment interest (on loans used to buy stocks): $10,000
What is the interest deduction for Alex and Amy for the 2012 tax year? (Points : 5)
$8,000
$12,000
$20,000
$18,000

4. (TCO B) Unreimbursed expenses of employees are considered to be deductions: (Points : 5)
for AGI.
from AGI.
for or from AGI, depending on the type of expense.
None of the above

5. (TCO A) Which of the following expenditures is always an itemized deduction for individual taxpayers? (Points : 5)
Charitable contributions
State and local income taxes
Moving expenses
All of the above

6. (TCO E) Adam sold a piece of business equipment that had an adjusted basis to him of $50,000. In return for the equipment, Adam received $80,000 cash and a painting with a fair market value of $20,000 from the buyer. The buyer also assumed Adam’s $25,000 loan on the equipment. Adam paid $5,000 in selling expenses. What is the amount of Adam’s gain on the sale? (Points : 5)
$90,000
$125,000
$80,000
$70,000

7. (TCO I) Gary and Gerdy Gray purchased a home for $125,000 on September 15, 2010. On October 7, 2011 they were divorced, and as part of the divorce agreement, the home was transferred to Gerda, who sold the home on October 18, 2012 for $350,000. How much can Gerda exclude? (Points : 5)
$350,000
$250,000
$225,000
$0

8. (TCO I) Under the accrual method of accounting, expenses are generally accrued when: (Points : 5)
the expenses are actually incurred.
the taxpayer elects to take the deduction.
payment is made.
None of the above

9. (TCO D) Sean, a calendar year taxpayer, purchased stock on June 18, 2011 for $8,000. The stock became worthless on June 4, 2012. What is Sean’s loss in 2012? (Points : 5)
$8,000 short-term capital loss
No loss
$8,000 long-term capital loss
$8,000 itemized deduction for investments

10. (TCO A) Which of the following is a primary source of tax authority? (Points : 5)
Revenue ruling
Tax Court case
Temporary regulation
All of the above

11. (TCO F) A nonbusiness bad debt is deductible for tax purposes as a(n): (Points : 5)
short-term capital loss.
itemized deduction.
long-term capital loss.
ordinary business deduction.

12. (TCO A) The art of using existing tax laws to pay the least amount of tax legally possible is known as: (Points : 5)
tax evasion.
tax avoidance.
tax elusion.
None of the above

13. (TCO C) Which of the following items is not taxable? (Points : 5)
Interest on U.S. Treasury bills, notes, and bonds issued by an agency of the United States
Interest on federal income tax refund
Interest on New York State bonds
Discount income in installment payments received on notes bought at a discount

14. (TCO B) Under the terms of their divorce agreement executed in October 2011, Keith transferred Corporation M stock to his former wife, Karen, as a property settlement. At the time of the transfer, the stock had a basis to Keith of $20,000 and a fair market value of $50,000. What is the tax consequence of this transaction to Keith, and what is Karen’s basis in the Corporation M stock? (Points : 5)
Keith has a gain of $30,000; Karen’s basis is $20,000.
Keith has a gain of $30,000; Karen’s basis is $50,000.
Keith has no gain or loss; Karen’s basis is $20,000.
Keith has no gain or loss; Karen’s basis is $50,000.

15. (TCO G) During 2012, Edward East had wages of $10,000 and received unemployment compensation of $6,200 from the state. Edward is single and 45 years old. What is the amount of unemployment compensation to be included in his gross income? (Points : 5)
$0
$2,100
$4,200
$6,200

16. (TCO F) Hobby expenditures are deductible to the extent of: (Points : 5)
total individual gross income.
hobby gross income.
trade or business gross income.
nonbusiness gross income.

Page: 1 2

Essays

1. (TCO E) In 2012, Uriah Stone received the following payments:
• Interest on refund of federal income tax for 2011: $400
• Interest on award for personal injuries in 2009 automobile accident: $300
• Interest on municipal bonds: $1,500
• United States savings bonds interest (Series H): $1,000
What amount, if any, should Mr. Stone report as interest income on his 2012 tax return?

2. (TCO G) Would any of the following items be deductible on an individual’s income tax return? If so, would the item be deductible for or from AGI? Explain each item.
(a) Hobby expenditures of $2,000 in excess of hobby gross income
(b) $3,000 loss on the sale of a personal sailboat
(c) Interest of $8,000 on money borrowed to purchase tax-exempt securities (Points : 17)

3. (TCO F) Michael and Mary Mason sold for $380,000 in November of 2012 their residence that they had purchased in 2002 for $75,000. They made major capital improvements during their 10-year ownership totaling $25,000.
(a) What is their excluded gain? How much must they recognize?
(b) Suppose, instead, that the Masons sold their home for $720,000. They moved into a smaller house costing $220,000. What is their excluded gain? How much must they recognize? (Points : 17)

4. (TCO G) John Baron, a professional baseball player, raises Black Angus cattle under circumstances that would indicate that the activity is a hobby. His adjusted gross income for the year is $50,000, and he has $500 of other miscellaneous itemized deductions, all of which are subject to the two-percent floor. During the taxable year, the feed for the cattle cost $1,500. The income from the sale of cattle was $1,400.

(a) Under the hobby loss rule, to what extent is the expense of $1,500 deductible?
(b) Under the two-percent-of-adjusted-gross-income limitation, how much is the overall deductible amount of his itemized deductions?

5. (TCO I) Rick, a single individual with a salary of $45,000, incurred and paid the following expenses during the year:
Student loan interest: $800
Medical expenses: $5,000
Alimony: $11,000
Mortgage interest on personal residence: $3,000
State income taxes: $4,000
Moving expenses: $1,500
Contribution to a traditional IRA: $2,000
Analyze the above expenses, and determine which ones are deductible for AGI. Please support your position.

6. (TCO I) Kim had the following transactions for 2012:
Salary: $48,000
Damage award (compensatory) for city bus accident: $18,000
Loss on sale of stock investment: $5,600
Loan from father to purchase auto: $14,000
Alimony paid to ex-wife: $8,000
What is Kim’s AGI for 2012?

7. (TCO F) Sara owns a sole proprietorship, and Phil is the sole shareholder of a C (regular) corporation. Each business sustained a $9,000 operating loss and a $2,000 capital loss for the year. Evaluate how these losses will affect the taxable income of the two owners? (Points : 17)

8. (TCO B) Dave forms a corporation and transfers property having a basis to him of $22,000 and a fair market value of $29,000 to the corporation for 1,000 shares of $11 par stock. One year later, Hank transfers property having a basis to him of $3,500 and a fair market value of $4,500 for 100 shares of the stock. Hank is not related to Dave. The corporation issued no other stock.
(a) How much gain does Dave recognize on his exchange? What is the basis to Dave of his 1,000 shares?
(b) What gain or loss is recognized by the corporation when it issues its shares to Dave? What is the basis to the corporation of the property it received from Dave?
(c) What is the gain or loss that Hank recognizes on this transaction, and what is his basis in his 100 shares?

9. (TCO F) In 2012, OK Company had a net loss of $82,000 from operations. Jane owns OK Company and works 20 hours a week in the business. She has a large amount of income from other sources and is in the 35% marginal tax bracket. Would Jane’s tax situation be better if OK Company were a proprietorship or a C corporation? Explain why.

10. (TCO H) On May 18, 2012, Sara purchased 30 shares of ABC stock for $210, and on October 29, 2012, she purchased 90 additional shares for $900. On November 28, 2012, she sold 48 shares, which could not be specifically identified, for $576, and on December 8, 2012, she sold another 25 shares for $150. What is her recognized gain or loss?

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BUSN 319 Marketing Final Exam Complete Set 1 and 2 Answer

BUSN 319 Marketing Final Exam Complete A+ Set 1 and 2 Answer

SET 1
Week 8 : Final Exam – Final Exam

1. (TCO 4) Three commonly used methods of evaluating marketing programs are marketing metrics, marketing dashboards and (Points : 5)
marginal analysis.
marketing audits.
marketing ROI.
marginal analysis.
marketing control boards.

2. (TCO 1) Ideally, in effective marketing planning, goals should be __________ in terms of what is to be accomplished and when. (Points : 5)
loose and vague
as general as possible
flexible or elastic
quantified and measurable
none of the above

3. (TCO 3) Which marketing strategy focuses its efforts on a single product line and market segment? (Points : 5)
full coverage
market specialization
product specialization
selective specialization
market-product concentration

4. (TCO 1) Based on relative competitive scope (broad target to narrow target) and source of competitive advantage (lower cost to differentiation), Porter’s four generic business strategies are differentiation, cost focus, differentiation focus, and (Points : 5)
exclusivity
electronic-focus.
quality focus.
cost leadership.
service leadership.

5. (TCO 2) Which of the following pieces of information is used in the implementation phase of the strategic marketing process? (Points : 5)
corporate return on investment
marketing research reports
revenues associated with each point of market share
trends in past and current revenues for industry and competitors in total and by segment
possible cannibalization effects on other products in the line

6. (TCO 6) Which of the following pieces of information is used in a SWOT analysis, the first step of the planning phase of the strategic marketing process? (Points : 5)
corporate return on investment
market share for the product
revenues associated with each point of market share
projection of future sales, expenses, and profits
possible cannibalization effects on other products in the line

7. (TCO 3) When developing the advertising program, which step helps advertisers with other choices in the process such as selecting media and evaluating a campaign? (Points : 5)
identify the target audience
specify the advertising objectives
design the advertising
pretest the advertising
schedule the advertising program

8. (TCO 2) The proper blend of elements in the promotional mix depends on the type of product. The three specific characteristics to be considered are __________, risk, and ancillary services. (Points : 5)
Complexity
Size
Durability
Accessibility
Acceptability

9. (TCO 4) The promotional objective of the decline stage of the product life cycle is to (Points : 5)
inform
persuade
compare
remind
do none of the above.

10. (TCO 2) The __________ can be used to inform prospective buyers about the benefits of the product. (Points : 5)
promotion channel
communication chain
marketing matrix
promotional mix
media mix

11. (TCO 8) Which of the following statements about the terms used for marketing intermediaries is true? (Points : 5)
The least precise terms used to describe marketing intermediaries are dealer and distributor.
A retailer sells to business markets.
An agent has no legal authority to act on behalf of a manufacturer.
A wholesaler is an intermediary who sells to consumers.
A broker is a synonym for a dealer.

12. (TCO 7) Price fixing is (Points : 5)
an arrangement a manufacturer makes with a reseller to handle only its products and not those of a competitor.
the practice of charging a very low price for a product with the intent of driving competitors out of business.
the practice of charging different prices to different buyers for goods of like grade and quality.
a conspiracy among firms to set prices for a product.
a seller’s requirement that the purchaser of one product also buy another product in the line.

13. (TCO 2) Pricing objectives may change depending on (Points : 5)
the financial position of the company as a whole.
the success of company products.
the segments in which the company is doing business.
where the company is doing business by country.
all of the above.

14. (TCO 3) The ratio of perceived benefits to price is called (Points : 5)
the price-quality relationship.
prestige pricing.
value-added pricing.
value
value analysis.

15. (TCO 6) Market segmentation involves aggregating prospective buyers into groups that have common needs and will (Points : 5)
pay attention to marketing messages.
respond similarly to a marketing action.
be responsive to marketing research.
use the same payment methods.
go shopping on a regular basis.

16. (TCO 5) Which of the following statements about environmental scanning is true? (Points : 5)
Environmental scanning changes the marketing environment.
Environmental scanning identifies and interprets potential trends.
Environmental scanning is an annual event.
Environmental scanning focuses primarily on geographical factors.
All of the above statements about environmental scanning are true.

17. (TCO 1) A key role of the marketing department is to (Points : 5)
allocate financial resources across business units.
set the overall mission of the company.
provide talent management services.
look outward.
assess global political situations.

18. (TCO 1) Which of the following acts as a barrier to the development of relationship marketing? (Points : 5)
the large number of one-to-one relationships customers are asked to sustain
the large number of products on the market
the increasing number of retail stores that are closing
the changing regulatory environment
diluted cultural diversity

Page: 1 2 3

Time Remaining:

Week 8 : Final Exam – Final Exam

Time Remaining:

Page: 1 2 3

Analysis and Application of Marketing Concepts

There are 15 multiple choice questions worth 8 points each designed to test your ability to analyze and apply the marketing concepts you have learned in this couse. Take your time and consider your answers carefully.

1. (TCO 1) Your neighbor is tired of conventional soft drinks and wants something different. Coincidentally, Cadbury Beverages, Inc. has begun distributing Country Time lemonade through the supermarket at a price comparable to that of soft drinks. Which of the conditions needed for marketing to occur is described in this situation? (Points : 8)
The creation of unrealized needs
Two parties with unsatisfied needs
One-way communication
A physical location for an exchange to take place
Time and place utility

2. (TCO 6) Kraft produces Lunchables, a prepackaged meal usually consisting of several crackers, small slices of meat and, small slices of cheese. Some versions contain Capri Sun drinks. Others are called Cracker Stackers and Fun Fuel. The box is bright yellow and the quantity of food contained within is small. The target market for Kraft Lunchables is most likely

(Points : 8)
Moms of school-age children
Business people looking for a quick snack
Business travelers
Teenagers
Seniors

3. (TCO 3) The owners of Old School Brand Authentic Antique Foods researched Civil War records to come up with recipes used in the old-fashioned cookies the company produces and markets. This statement deals with which part of the marketing mix?

(Points : 8)
Product
Process
Price
Place
Promotion

4. (TCO 5) Google’s myspace.com is a social network that is targeted primarily to people under the age of 25. Increasing use of myspace.com as a networking tool for this target market is an example of how __________ forces impact the marketing (Points : 8)
Economic
Competitive
Social
Regulatory

5. (TCO 7) A car collector, Mr. F. Hansen, who said his 1975 Chevrolet Corvette was certified as the last Corvette convertible to be produced, sued General Motors to stop it from manufacturing any more of the convertible sports cars. The suit also requested $1.5 million in damages. Hansen claimed he bought the car for its collector’s value. It came with a letter from GM dated August 25, 1975, that said the car was “the last Corvette convertible that General Motors Corp. would ever manufacture”. Hansen said the value of his car has been decreasing ever since GM resumed manufacturing Corvette convertibles in 1985. If the court ruled in favor of Mr. Hansen, what general type of regulation would such a ruling represent?

(Points : 8)
Protecting companies from one another
Protecting consumers from unfair trade practices
Protecting the future interests of society from dangerous business practices
Protecting consumers from one another
Protecting businesses from unfair consumer practices

6. (TCO 6) Graham-Field Health Products makes hospital beds and wheelchairs from component parts and materials it buys. It sells its products to hospitals, nursing homes and retailers of health care products. Graham-Field Health Products operates in a(n) __________ market.

(Points : 8)
Consumer
Government
Industrial
Reseller
Demographic

7. (TCO 1) The Book Promoters Association of Canada members recently questioned what could be done to rejuvenate the Canadian book publishing industry. Some members claimed the problem was Canadian retailers had been replaced by Wal-Marts. Others said the problem was with stodgy promotions. Still others said the problem was caused by too little money being budgeted to fund marketing programs. It was time that Canadian book publishers used __________ to save the industry. (Points : 8)
Advertising
Sales promotion
Publicity
Marketing research
Tactical support

8. (TCO 3) The Belsen interview is a means of pretesting media surveys. It gathers facts and figures by asking people about their attitudes, beliefs and awareness of various media. With this technique, the respondent is interviewed twice—first by an interviewer using the proposed survey and then by a different interviewer, who asks questions about the survey itself. The Belsen interview uses __________ data.

(Points : 8)
Observational
Secondary
Intercept
Questionnaire
Synergistic

9. (TCO 4) A 3M researcher worked with university students to develop the Post-it Flag Highlighter. His team evaluated the technical feasibility of the proposed design and whether the idea met the new-product objectives. In which stage of the new-product process was this product? (Points : 8)
Idea generation
Screening and evaluation
Business analysis
New-product strategy development
Concept testing

10. (TCO 4) A few years ago Who Wants to Be a Millionaire premiered as the first nighttime game show in several decades. The marketing for the show was intent on making television viewers aware of its existence and excited enough about the show that we would watch the first episode. Based on this description, in which stage of the product life cycle would this show be?

(Points : 8)
Introduction
Growth
Maturity
Decline
Harvest

11. (TCO 8) In an episode of the Andy Griffith television series, two local farmers were selling the produce they grew on their farms from the back of their pickup trucks to local people that drove by on the road. The farmers selling their products without wholesalers or retailers were an example of a

(Points : 8)
Roadside channel of distribution
Traveling channel of distribution
Intermediate channel of distribution
Informal channel of distribution
Direct channel of distribution

12. (TCO 2) Disney is using an integrated marketing communications program (IMC) to promote group travel to its theme parks because (Points : 8)
Its strategy includes using all types of promotional activities that deliver a consistent message
It does not want to reach any member of its target audience more than once

IMC is less expensive than other forms of promotion such as public service announcements
If it didn’t, Disney would have to use indirect personal selling
It is more concerned about frequency than reach

13. (TCO 2) When a news story covers a terrible disaster and viewers are asked to send donations to the American Red Cross, the American Red Cross is receiving (Points : 8)
Publicity
Advertising
Direct marketing
Personal selling
A public service announcement

14. (TCO 8) Recently American Express, Visa and MasterCard have been pushing hard into the small-ticket end of the credit card market. The purchase of items such as fast food meals, movie popcorn and candy have been targeted as growth areas for credit card usage. This is an example of a __________ strategy on the part of the credit card companies.

(Points : 8)
Market penetration
Market development
Product development
Diversification
Product dissemination

15. (TCO 5) In a survey conducted immediately after the World Trade Center attack, 47 percent of the women who responded to the survey said they would not treat themselves to small luxuries like manicures and 54 percent said they would not buy any expensive clothes. The results of this survey most directly relate to __________ forces within the environmental scan. (Points : 8)
Economic
Regulatory
Cost
Competitive
Legal

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Week 8 : Final Exam – Final Exam

Evaluation and Synthesis
In this section of the exam, you will answer 3 essay questions worth 30 points each. Take time to think through your answer and organize your response. Remember to save your work before preceeding to the next question.

1. (TCO 3)
Imagine you are creating a marketing plan for a company that will sell bikes. As you consider the marketing program, what types of strategy should you consider including in the plan? Propose one specific example of each type of strategy that you are considering and present your rationale (reasoning) for your strategy selections.
(Points : 30)

2. (TCO 1) Imagine you are the marketing manager responsible for developing marketing strategy for a bicycle company. Propose the strategic marketing process you will use being sure the name the stages, the activities included in the stages and stage specific examples related to marketing bicycles. (Points : 30)

3. (TCO 4) Imagine you are the product manager for a new electric car similar to the Chevrolet Volt. Using all your knowledge of the new product life cycle, speculate on the stages of the life cycle your electric car will pass through being sure to discuss the marketing objectives in each stage giving specific examples of the objectives along with your reasoning for creating the objective. (Points : 30)

4. In China, many people are removing their money from the state banks and lending it out themselves. The interest rate earned in a state bank account is about one-half the rate of inflation. On the other hand, loaning money to friends, relatives and, even unrelated entrepreneurs can often earn the investor double or more over the inflation rate. The gray market, an underground network of investors and private businesses, moves the cash from lenders to businesses. Judge whether marketing occurred in this situation and justify your conclusions. Appraise the effectiveness of government regulation in controlling markets.

5. Managing the product through successive stages of the product life cycle is an important role for a product manager. Assess the three ways to manage a product through its life cycle including examples to help clarify your assessment. Indicate the reasoning why you would prefer one method over another in a given situation. You can use any product in your examples.

SET 2

1. (TCO 4) Three commonly used methods of evaluating marketing programs are (Points : 5)
sales analysis, marginal analysis, and cost analysis.
sales analysis, profitability analysis, and marketing audits.
marketing ROI, metrics, and dashboards.
sales audits, cost audits, and marketing audits.
internal audits, external audits, and marketing control boards.

Question 2. 2. (TCO 1) Ideally in effective marketing planning, goals should be _____ in terms of what is to be accomplished and when. (Points : 5)
loose and vague
as general as possible
flexible or elastic
quantified and measurable
None of the above

Question 3. 3. (TCO 3) Which marketing strategy focuses on a single market segment but adds additional product lines? (Points : 5)
Full coverage
Market specialization
Product specialization
Selective specialization
Market-product concentration

Question 4. 4. (TCO 1) Based on relative competitive scope (broad target to narrow target) and source of competitive advantage (lower cost to differentiation), Porter’s four generic business strategies are differentiation, cost focus, cost leadership, and (Points : 5)
exclusivity.
electronic-focus.
quality focus.
differentiation focus.
service leadership.

Question 5. 5. (TCO 2) Which of the following pieces of information is used in the implementation phase of the strategic marketing process? (Points : 5)
Corporate return on investment
Marketing research reports
Revenues associated with each point of market share
Trends in past and current revenues for industry and competitors in total and by segment
Possible cannibalization effects on other products in the line

Question 6. 6. (TCO 6) Which of the following pieces of information is used in a SWOT analysis, the first step of the planning phase of the strategic marketing process? (Points : 5)
Corporate return on investment
Market share for the product
Revenues associated with each point of market share
Projection of future sales, expenses, and profits
Possible cannibalization effects on other products in the line

Question 7. 7. (TCO 3) The first decision in developing an advertising program is to (Points : 5)
set the budget.
state the mission of the advertising program.
identify the target audience.
select the appeal.
select the media.

Question 8. 8. (TCO 2) The proper blend of elements in the promotional mix depends on the type of product. The three specific characteristics to be considered are _____, risk, and ancillary services. (Points : 5)
complexity
size
durability
accessibility
acceptability

Question 9. 9. (TCO 4) Reminding buyers of the product’s existence is the promotional objective during which stage of the product life cycle? (Points : 5)
Introduction
Growth
Maturity
Decline
All of the above

Question 10. 10. (TCO 2) The _____ can be used to inform prospective buyers about the benefits of the product. (Points : 5)
promotion channel
communication chain
marketing matrix
promotional mix
media mix

Question 11. 11. (TCO 8) Which of the following statements about the terms used for marketing intermediaries is true? (Points : 5)
The most precise terms used to describe marketing intermediaries are dealer and distributor.
A retailer sells to business markets.
An agent has no legal authority to act on behalf of a manufacturer.
A wholesaler is an intermediary who sells to other intermediaries.
Broker is a synonym for a dealer.

Question 12. 12. (TCO 7) Which of the following statements about the legal and regulatory aspect of pricing is true? (Points : 5)
The Robinson-Patman Act deals with predatory pricing.
The Consumer Goods Pricing Act is the only federal legislation that deals directly with pricing issues.
The Sherman Act deals only with vertical price fixing.
The Federal Trade Commission Act deals with predatory pricing, deceptive pricing, and geographical pricing issues.
The Consumer Goods Pricing Act and the Robinson-Patman Act deal with price discrimination.

Question 13. 13. (TCO 2) Pricing objectives may change depending on (Points : 5)
the financial position of the company as a whole.
the success of company products.
the segments in which the company is doing business.
where the company is doing business by country.
All of the above

Question 14. 14. (TCO 3) The ratio of perceived benefits to _____ is called value. (Points : 5)
price
prestige value
value-added pricing
value analysis
perceived costs

Question 15. 15. (TCO 6) Market segmentation involves aggregating prospective buyers into groups that will respond similarly to a marketing action and (Points : 5)
will pay attention to marketing messages.
have common needs.
be responsive to marketing research.
use the same payment methods.
go shopping on a regular basis.

Question 16. 16. (TCO 5) The process of continually acquiring information on events occurring outside the organization to identify and interpret potential trends is called (Points : 5)
environmental trending.
organizational scanning.
environmental scanning.
a SWOT analysis.
acquisition scanning.

Question 17. 17. (TCO 1) The marketing department helps keep the organization focused on creating value both for it and for customers. This is accomplished by (Points : 5)
listening to customers.
developing offerings.
producing offerings.
implementing marketing program activities.
All of the above

Question 18. 18. (TCO 1) Which of the following acts as a barrier to the development of relationship marketing? (Points : 5)
The large number of one-to-one relationships that customers are asked to sustain
The large number of products on the market
The increasing number of retail stores that are closing
The changing regulatory environment
Diluted cultural diversity

Question 19. 19. (TCO 1) Your neighbor is tired of conventional soft drinks and wants something different. Coincidentally, Cadbury Beverages Inc. has begun distributing Country Time lemonade through the supermarket at a price comparable to that of soft drinks. Which of the conditions needed for marketing to occur is described in this situation? (Points : 5)
The creation of unrealized needs
Two parties with unsatisfied needs
One-way communication
A physical location for an exchange to take place
Time and place utility

Question 20. 20. (TCO 6) Kraft produces Lunchables, a prepackaged meal usually consisting of several crackers, small slices of meat, and small slices of cheese. Some versions contain Capri Sun drinks. Others are called Cracker Stackers and Fun Fuel. The box is bright yellow and the quantity of food contained within is small. The target market for Kraft Lunchables is most likely (Points : 5)
moms of school-aged children.
business people looking for a quick snack.
business travelers.
teenagers.
seniors.

Question 21. 21. (TCO 3) Which element of the marketing mix is demonstrated when the Mars Company has a sale on M&M’s® brand candies? (Points : 5)
Product
Price
Promotion
Place
Production

Question 22. 22. (TCO 5) The Lemon Tree is a high-fashion boutique selling top-of-the-line women’s clothing and accessories. The keys to its success include knowing the customers’ changing tastes and providing something different from other retailers. In addition, because of the high value of the merchandise, The Lemon Tree’s management is exploring the use of computerized inventory controls and sales order processing. From this description, one can infer that the environmental category of least importance to The Lemon Tree is (Points : 5)
economic.
regulatory.
technological.
social.
competitive.

Question 23. 23. (TCO 7) In 1998, F. Hoffman-LaRoche Ltd. and BASF AG, two international pharmaceutical companies, were ordered to pay $725 million in fines for plotting to raise and fix prices of vitamins used in virtually every home in the United States. This is an example of how _____ forces affect the marketing environment. (Points : 5)
economic
ecological
technological
social
regulatory

Question 24. 24. (TCO 6) Mile High Frozen Foods is a distributor for McDonald’s. It also bakes the buns used by McDonald’s in several states. Mile High purchases flour, yeast, and sesame seeds, manufactures the buns, and then distributes them to the retail stores. Mile High Frozen Foods is operating in a(n) _____ market. (Points : 5)
reseller
government
institutional
psychographic
industrial

Question 25. 25. (TCO 1) Several years ago, SwissAir made some unwise investments to pay for a planned expansion. As a result, the company had to make some cost-cutting moves that alienated its customers. Eventually the company declared bankruptcy, regrouped, and found itself able to resume business. Its board of directors recently announced that the company would like to resume flying. Before resuming flying, SwissAir needed to determine what percentage of its former customers it could expect to return to the airline. If not enough former customers were willing to use SwissAir again, the resumption of flights would not be profitable. The determination of the percentage of returning patrons that would be needed to resume operation is an example of a (Points : 5)
research risk.
research objective.
research uncertainty.
research decision.
research definition.

Question 26. 26. (TCO 3) When Marine Midland Bank sent market researchers with surveys door-to-door in the neighborhoods of its branch banks to ask people with savings accounts why they did not also have checking accounts and credit cards with Marine Midland, the researchers were gathering _____ data. (Points : 5)
questionnaire
secondary
intercept
observational
nonprobability

Question 27. 27. (TCO 4) Sara Burns is the owner of a company called Spice and was looking for a new product to go with her company’s line of food condiments when a friend suggested combining spices with tea. In the _____ stage of the new-product process, the spices and tea mixtures were exposed to prospective consumers under realistic purchase conditions. (Points : 5)
idea generation
screening and evaluation
business analysis
market testing
commercialization

Question 28. 28. (TCO 4) A few years ago, Who Wants to Be a Millionaire premiered as the first nighttime game show in several decades. The marketing for the show was intent on making television viewers aware of its existence and excited enough about the show that they would watch the first episode. Based on this description, in which stage of the product life cycle would this show be? (Points : 5)
Introduction
Growth
Maturity
Decline
Harvest

Question 29. 29. (TCO 8) In an episode of the Andy Griffith television series, two local farmers were selling the produce they grew on their farms from the backs of their pickup trucks to local people who drove by on the road. The farmers selling their products without wholesalers or retailers were an example of a (Points : 5)
roadside channel of distribution.
traveling channel of distribution.
intermediate channel of distribution.
informal channel of distribution.
direct channel of distribution.

Question 30. 30. (TCO 2) Disney is using an integrated marketing communications program (IMC) to promote group travel to its theme parks, because (Points : 5)
its strategy includes using all types of promotional activities that deliver a consistent message.
it does not want to reach any member of its target audience more than once.
IMC is less expensive than other forms of promotion, such as public service announcements.
if it didn’t, Disney would have to use indirect personal selling.
it is more concerned about frequency than reach.

Question 31. 31. (TCO 2) When a news story covers a terrible disaster and viewers are asked to send donations to the American Red Cross, the American Red Cross is receiving (Points : 5)
publicity.
advertising.
direct marketing.
personal selling.
a public service announcement.

Question 32. 32. (TCO 8) For several years, advertisements for Arm & Hammer Baking Soda have prompted consumers to place an opened box of the product in the refrigerator to lessen food odor and to replace that box monthly. The same ads advise customers to pour the used box down their kitchen sinks to freshen drains. Arm & Hammer employed a _____ strategy in its attempt to sell more baking soda. (Points : 5)
market penetration
market development
product development
diversification
product penetration

33. (TCO 3) Imagine that you are creating a marketing plan for a company that will sell motor scooters . As you consider the marketing program, what types of strategy should you consider including in the plan? Propose one specific example of each type of strategy that you are considering, and present your rationale (reasoning) for your strategy selections. (Points : 30)

34. Discriminate between primary data and secondary data and their usefulness to business decision making, being sure to discuss the advantages and disadvantages of each. Your response should also identify the typical sources for primary and secondary data and what you would rely on most heavily in making your marketing decisions. (Points : 30)

35. (TCO 4) You are the product manager responsible for a horrible product failure, but in your wisdom, you are evaluating why the product failed. What factors would you consider in your evaluation? What actions could you have taken to prevent the failure? Does product innovation need a willingness to accept failure? (Points : 30)

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BUS-319_Marketing_Final-Exam_Complete-Answer