Business A Changing World 8th Edition O.C. Ferrell - Solutions

3. Which single financial institution is likely to be best able to meet Hill's small company's needs now? Why?Dr. Stephen Hill, a successful optom- etrist in Indianapolis, Indiana, has tinkered with various inventions for years. Having finally developed what he believes is his first saleable
2. What services of each financial institution is Hill's new company likely to need? Dr. Stephen Hill, a successful optom- etrist in Indianapolis, Indiana, has tinkered with various inventions for years. Having finally developed what he believes is his first saleable product (a truly
1. List the various types of U.S. financial institutions and the primary function of each. Dr. Stephen Hill, a successful optom- etrist in Indianapolis, Indiana, has tinkered with various inventions for years. Having finally developed what he believes is his first saleable product (a truly
Background: You have just graduated from college and have received an offer for your dream job (annual salary: $35,000). This premium salary is a reward for your hard work, perseverance, and good grades. It is also a reward for the social skills you developed in college doing service work as a
2. Survey the same institutions as in question one, this time inquiring as to the rates asked for each of their various loans. Where would you prefer to obtain a car loan? A home loan? Why?
3. Can internships, fellowships, and other acts of corporate social responsibility backfire? If so, how? Accounting firm Deloitte Touche Tohmatsu created a one- year fellowship called Deloitte 21. During the fellowship, leaders from Deloitte firms collaborate with business, govern- ment, and
2. The accounting industry has received a lot of negative pub- licity in recent decades. How do programs like those men- tioned in this box benefit the corporations offering them? Accounting firm Deloitte Touche Tohmatsu created a one- year fellowship called Deloitte 21. During the fellowship,
1. How do fellowships like Deloitte21 benefit students? How do they benefit corporations? Accounting firm Deloitte Touche Tohmatsu created a one- year fellowship called Deloitte 21. During the fellowship, leaders from Deloitte firms collaborate with business, govern- ment, and community leaders to
3. Do you think that being recognized and winning environmental awards will help BofA become more profitable? Bank of America, along with many other major banks, faced a difficult financial situation during the most recent financial crisis. In the midst of a global banking crisis, BofA was forced
2. What does BofA gain from continuing to invest in sustainability? Bank of America, along with many other major banks, faced a difficult financial situation during the most recent financial crisis. In the midst of a global banking crisis, BofA was forced to accept a government rescue. Shareholders
1. How does BofA balance sustainability with performance during a difficult financial time? Bank of America, along with many other major banks, faced a difficult financial situation during the most recent financial crisis. In the midst of a global banking crisis, BofA was forced to accept a
Recommend the most appropriate financial institution for a hypothetical small business.
Investigate the challenges ahead for the banking industry.
Distinguish among nonbanking institutions such as insurance companies, pension funds, mutual funds, and finance companies.
Compare and contrast commercial banks, savings and loan associations, credit unions, and mutual savings banks.
Specify how the Federal Reserve Board manages the money supply and regulates the American banking system.
Describe various types of money.
Define money, its functions, and its characteristics.
You can look at Web sites such as Yahoo! Finance (http:// finance.yahoo.com/), under the company's 'key statistics' link, to find many of its financial ratios, such as return on assets and return on equity. Have each member of your team look up a different company, and explain why you think there
3. What is the AFL doing differently now that has helped it to regain financial solvency? The Arena Football League (AFL) seemed to have everything going for it. About 13,000 people flocked to see its games in 2008, and revenues poured in. Yet less than a year later, the AFL filed for bank- ruptcy
2. What financial ratios does Arena Football use to help it assess the financial health of the organization? What is the purpose of these different ratios? The Arena Football League (AFL) seemed to have everything going for it. About 13,000 people flocked to see its games in 2008, and revenues
1. What marketing and financial decisions did the AFL make that forced it to declare bankruptcy? The Arena Football League (AFL) seemed to have everything going for it. About 13,000 people flocked to see its games in 2008, and revenues poured in. Yet less than a year later, the AFL filed for bank-
After you determine your initial reason- able selling price, you need to estimate your sales forecasts (in terms of units and dollars of sales) for the first year of operation. Remember to be conservative and set forecasts that are more modest. While customers may initially try your business, many
3. Discuss the limitations of ratio analysis. You have just been promoted from vice president of marketing of Brain Drain Corporation to president and CEO! That's the good news. Unfortunately, while you know marketing like the back of your hand, you know next to nothing about finance. Worse still,
2. Which of the financial ratios are likely to prove to be of greatest value in identifying problem areas in the company? Why? Which of your company's financial ratios might you expect to be especially poor? You have just been promoted from vice president of marketing of Brain Drain Corporation to
1. Describe the three basic accounting statements. What types of information does each provide that can help you evaluate the situation? You have just been promoted from vice president of marketing of Brain Drain Corporation to president and CEO! That's the good news. Unfortunately, while you know
2. Form a group of three or four students to perform an industry analysis. Each student should analyze a company in the same industry, and then all of you should compare your results. The following compa- nies would make good group projects: Automobiles: DaimlerChrysler, Ford, General Motors
3. Is it a good idea to relax mark-to-market rules in order to give companies more flexibility with accounting proce- dures during time s of crisis? Mark-to-market accounting attributed to the problems banks faced in the 2008-2009 financial crisis. It requires compa- nies to mark their assets to
2. How did mark-to-market accounting methods so greatly affect the value of companies du ring the financial crisis? Mark-to-market accounting attributed to the problems banks faced in the 2008-2009 financial crisis. It requires compa- nies to mark their assets to the market price that existed on
1. How would you describe the mark-to-market account method (in your own words)? Mark-to-market accounting attributed to the problems banks faced in the 2008-2009 financial crisis. It requires compa- nies to mark their assets to the market price that existed on that day, which makes sense for
3. What should Frog's Leap do in the future to maintain its competitive advantage in the rapidly growing organic alcohol industry? John Williams, founder of Frog's Leap Winery in Napa Valley, California, cares about wine, the environment, and his com- pany's bottom line. Transparency and a free and
2. Have these moves to become organic and sustainable helped or hurt the company's financial position? John Williams, founder of Frog's Leap Winery in Napa Valley, California, cares about wine, the environment, and his com- pany's bottom line. Transparency and a free and open attitude are hallmarks
1. What has Frog's Leap Winery done to be profitable and reduce its carbon footprint? John Williams, founder of Frog's Leap Winery in Napa Valley, California, cares about wine, the environment, and his com- pany's bottom line. Transparency and a free and open attitude are hallmarks of the company.
Assess a company's financial position using its accounting statements and ratio analysis.
Analyze the statement of cash flows to evaluate the increase and decrease in a company's cash balance.
Interpret a company's balance sheet to determine its current financial position.
Examine the various components of an income statement in order to evaluate a firm's "bottom line."
Demonstrate the accounting process.
Define accounting, and describe the different uses of accounting information.
Develop a digital marketing promotion for a local sports team. Use Twitter, Facebook, and other social networking media to promote ticket sales for next season's sched- ule. In your plan, provide specific details and ideas for the content you would use on the sites. Also, describe how you would
2. What ideas for new freeware can you give Paul? What potential uses will the new software have?
Background Many companies today utilize new digital media in a way that reflects their images and goals. They can also help to improve customer service, loyalty and satisfaction while reaching out to new target markets. Companies use these sites in a variety of ways, sometimes setting up Face- book
3. It has been stated that digital technology and the Internet is to business today what manufacturing was to business during the Industrial Revolution. The tech- nology revolution requires a strategic understanding greater than learning the latest software and pro- grams or determining which
2. Visit some of the social networking sites identified in this chapter. How do they differ in design, audience, and features? Why do you think some social net- working sites like Facebook are more popular than others?
1. Amazon.com is one of the most recognized e-businesses. Visit the site (www.amazon.com) and identify the types of products the company sells. Explain its privacy policy.
10. Why do creators want to protect their intellectual property? Provide an example on the Internet where intellectual property may not be protected or where a copyright has been infringed.
9. What is identity theft? How can consumers protect themselves from this crime?
8. What are some of the privacy concerns associated with the Internet and e-business? How are these concerns being addressed in the United States?
7. How can businesses utilize new digital and social networking channels in their marketing campaigns?
4. What is e-business?
3. Define accessibility, addressability, connectivity, and control. What do these terms have to do with digital marketing?
2. How can marketers utilize digital media to improve business?
3. How do the online organizations featured in this box generate revenue? Do you think they have sustainable marketing strategies? It seems natural that online marketing should be more sus- tainable than paper-based media outlets. For one thing, it saves paper and generates lower greenhouse gas
2. Why do you think many consumers have not switched to online bill-paying and banking systems? It seems natural that online marketing should be more sus- tainable than paper-based media outlets. For one thing, it saves paper and generates lower greenhouse gas emis- sions. Doing away with
1. What are the advantages of doing more marketing online? It seems natural that online marketing should be more sus- tainable than paper-based media outlets. For one thing, it saves paper and generates lower greenhouse gas emis- sions. Doing away with paper-oriented banking transactions alone can
Identify legal and ethical considerations in digital media.
Define social networking and illustrate how businesses can use different types of social networking media.
Show how digital media affect the marketing mix.
Demonstrate the role of digital marketing and social networking in today's business environment.
Understand the characteristics of digital media and how they differentiate these methods from traditional marketing activities.
Define digital media and digital marketing and recognize their increasing value in strategic planning.
Form groups and search for examples of convenience products, shopping products, specialty products, and busi- ness products. How are these products marketed? Provide examples of any ads that you can find to show examples of the promotional strategies for these products. Report your findings to the
3. What represents the heart of Oberweis' marketing strategy? Oberweis, an ice cream and dairy busi- ness, is renowned for its high-quality dairy products. The company started by accident in 1915 when Peter Oberweis sold excess milk from his dairy cows to his neighbors. Twelve years later, Oberweis
2. What is the value of marketing research to Oberweis? Oberweis, an ice cream and dairy busi- ness, is renowned for its high-quality dairy products. The company started by accident in 1915 when Peter Oberweis sold excess milk from his dairy cows to his neighbors. Twelve years later, Oberweis part-
1. How did a company like Oberweis have to change its marketing strategy as the company grew from one retail store to over 10,000 customers and many stores? Oberweis, an ice cream and dairy busi- ness, is renowned for its high-quality dairy products. The company started by accident in 1915 when
3. What are your suggestions for implementation of the marketing strategy? Deluxe Chips is one of the leading companies in the salty-snack indus- try, with almost one-fourth of the $10 billion market. Its Deluxos tortilla chips are the number-one selling brand in North America, and its Ridgerunner
2. Critique your marketing strategy in terms of its strengths and weaknesses. Deluxe Chips is one of the leading companies in the salty-snack indus- try, with almost one-fourth of the $10 billion market. Its Deluxos tortilla chips are the number-one selling brand in North America, and its
1. Design a marketing strategy for the new product line. Deluxe Chips is one of the leading companies in the salty-snack indus- try, with almost one-fourth of the $10 billion market. Its Deluxos tortilla chips are the number-one selling brand in North America, and its Ridgerunner potato chip is
2. Design a distribution channel for a manufacturer of stuffed toys.
1. Pick three products you use every day (either in school, at work, or for pleasure-perhaps one of each). Determine what phase of the product life cycle each is in. Evaluate the marketer's strategy (product, price, promotion, and distribution) for the product and whether it is appropriate for the
9. What does the personal selling process involve? Briefly discuss the process.
8. How do publicity and advertising differ? How are they related?
7. What activities are involved in physical distribution? What functions does a warehouse perform?
6. Describe the typical marketing channels for con- sumer products.
5. What is probably the least flexible marketing mix variable? Why?
4. Distinguish between the two ways to set the base price for a new product.
2. What is the product life cycle? How does a product's life cycle stage affect its marketing strategy?
1. What steps do companies generally take to develop and introduce a new product?
3. What are some of the drawbacks of using Twitter as a marketing tool? Businesses big and small are discovering tweeting as a way to inform the world about their companies. By asking the question "What are you doing?" Twitter allows users to tell their followers about moments in their daily lives.
2. How could Twitter be used as a tool to strengthen cus- tomer relationships and to gather consumer feedback? Businesses big and small are discovering tweeting as a way to inform the world about their companies. By asking the question "What are you doing?" Twitter allows users to tell their
1. Why is Twitter appealing to companies? Businesses big and small are discovering tweeting as a way to inform the world about their companies. By asking the question "What are you doing?" Twitter allows users to tell their followers about moments in their daily lives. Twitter users post messages
3. Do you think General Mills has compromised the authen- ticity of the Cascadian Farm brand? Keep in mind that Gene Kahn remains highly involved in the brand. General Mills is stepping into the fast-growing organic foods industry. In 1999, it became the owner of the organic brand Cascadian Farm.
2. What was the advantage to General Mills of acquiring an organic foods line?General Mills is stepping into the fast-growing organic foods industry. In 1999, it became the owner of the organic brand Cascadian Farm. However, you will not find the General Mills name on Cascadian Farm packaging or on
1. Why did General Mills choose to keep the Cascadian Farms brand name separate? Do you think it was a good idea?General Mills is stepping into the fast-growing organic foods industry. In 1999, it became the owner of the organic brand Cascadian Farm. However, you will not find the General Mills
Specify the activities involved in promotion, as well as promotional strategies and promotional positioning.
Identify factors affecting distribution decisions, such as marketing channels and intensity of market coverage.
Define price, and discuss its importance in the marketing mix, including various pricing strategies a firm might employ.
Describe the role of product in the marketing mix, including how products are developed, classified, and identified.
3. Who do you think is New Belgium's target market? Not everyone may recognize the name New Belgium Brewery, but many people are familiar with Fat Tire beer. New Belgium founder Jeff Lebesch first began brewing beer with a roommate in his basement. Although the first attempts failed, he and his
2. How does a strong commitment to environmental and social responsibility help to attract new customers and maintain old ones? Not everyone may recognize the name New Belgium Brewery, but many people are familiar with Fat Tire beer. New Belgium founder Jeff Lebesch first began brewing beer with a
1. Why is environmental stewardship so important at New Belgium Brewery? Not everyone may recognize the name New Belgium Brewery, but many people are familiar with Fat Tire beer. New Belgium founder Jeff Lebesch first began brewing beer with a roommate in his basement. Although the first attempts
The first step is to develop a marketing strategy for your product or service. Who will be the target market you will specifically try to reach? What group(s) of people has the need, ability and will- ingness to purchase this product? How will you segment customers within your target market?
3. What are some of the marketing strategies auto man- ufacturers use to stimulate sales of certain makes of automobiles? Ventura Motors makes midsized and luxury automobiles in the United States. Best selling models include its basic four-door sedans (priced from $20,000 to $25,000) and two-door
2. Evaluate the role of the marketing mix in the Olympus introduction. Ventura Motors makes midsized and luxury automobiles in the United States. Best selling models include its basic four-door sedans (priced from $20,000 to $25,000) and two-door and four-door luxury automobiles (priced from
1. What do you think were the main concerns with the Olympus two-door sports coupe? Is there a market for a two-seat, $32,000 sports car when the RX-8 sells for significantly less? Ventura Motors makes midsized and luxury automobiles in the United States. Best selling models include its basic
3. What are the risks of greenwashing? The attempt by major companies to be green by adopting eco-friendly products introduces a new ethical issue called greenwashing. Greenwashing occurs when companies mis- represent the environmental benefits of a product or service. It is a way for companies to
2. Why do some companies engage in greenwashing? The attempt by major companies to be green by adopting eco-friendly products introduces a new ethical issue called greenwashing. Greenwashing occurs when companies mis- represent the environmental benefits of a product or service. It is a way for
1. What is greenwashing, and why is it an ethical problem? The attempt by major companies to be green by adopting eco-friendly products introduces a new ethical issue called greenwashing. Greenwashing occurs when companies mis- represent the environmental benefits of a product or service. It is a
3. What are other ways Mattel could help the Barbie brand regain market share? Barbie debuted in 1959 and instantly filled a gap in a doll mar- ket filled with baby dolls. After decades of popularity (Barbie hit her peak in 2002 with $1.52 billion in sales), Barbie sales have fallen close to 30
2. What do you think of the strategy to market Barbie as more of a high-fashion doll? Is it a good strategy? Barbie debuted in 1959 and instantly filled a gap in a doll mar- ket filled with baby dolls. After decades of popularity (Barbie hit her peak in 2002 with $1.52 billion in sales), Barbie

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Business A Changing World 8th Edition O.C. Ferrell - Solutions

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