Marketing Real People Real Choices 9th Global Edition Michael Solomon, Greg Marshall, Elnora Stuart - Solutions

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How would you distinguish between exclusive and selective distribution? (AACSB: Written and Oral Communication;Reflective Thinking)
How do decisions about marketing channels relate to other marketing decisions (for example, decisions about pricing, products, or promotion)? (AACSB: Written and Oral Communication)
Why is it often necessary and advantageous to have intermediaries in a marketing or distribution channel?(AACSB: Written and Oral Communication; Reflective Thinking)
The supply chain consists of upstream and downstream partners. Differentiate between upstream and downstream partners. (AACSB: Written and Oral Communication;Reflective Thinking)
Your company has developed a new hand sanitizer that has proven to be successful in the test market phase.The product was proven to be as effective as competitive products but does not have the same skin-drying effects as competitive products because of your secret, plant-based ingredient. The cost
Amara runs a small food kiosk and prepares lunch snacks for office workers in the city. The average customer spend at her kiosk is $4.55. She has asked you to suggest some viable ways in which she can increase the average spend per customer and attract new customers.Referring to the price
You have always wanted to run your own business and make a positive contribution to society. You are a good organizer, and your closest friend is a talented geologist.You decide to buy a drill-rig truck and subcontract to charities and governments to drill water wells for isolated communities in
Identify and briefly describe three major public policy concerns related to pricing. (AACSB: Written and Oral Communication)
Compare fixed pricing with dynamic pricing. Illustrate how and when each of these strategies is used. (AACSB:Written and Oral Communication)
What is the demand curve? Why do companies consider it when they set prices? (AACSB: Written and Oral Communication; Reflective Thinking)
Briefly explain, and provide an example of, the four types of markets companies must consider for pricing decisions.Are these markets relevant for all types of products?(AACSB: Written and Oral Communication)
Two different types of costs form the total cost in setting a product price in cost-based pricing. Explain what these two costs are, and which one is the most important in determining price. (AACSB: Written and Oral Communication)
What factors should firms consider as they set the floor and the ceiling for prices? How do firms ultimately set prices between the floor and the ceiling? (AACSB:Written and Oral Communication)
DNA travel gained popularity as people gained DNA test results from companies like 23andMe. People wanted to take adventures to explore their heritage and connect with distant relatives. In response to its popularity, Airbnb partnered with 23andMe to offer customized experiences and travel options
In small groups, research the AirPop Active+ Halo face mask. Where is this product in the new product life cycle? How does the product relate to trends in the marketplace?(AACSB: Written and Oral Communication;Information Technology; Reflective Thinking)
Visit http:// ideas.lego.com . How does LEGO use crowdsourcing to find innovative new product ideas?(AACSB: Written and Oral Communication; Information Technology; Reflective Thinking)
Describe the R-W-W (real, win, worth doing) new product screening framework. How is it used? (AACSB:Written and Oral Communication)
When do firms engage in business analysis as part of the new product development process? What happens during this step? Why is business analysis an important step in the process? (AACSB: Written and Oral Communication)
What is customer-centric new product development?Provide an example. (AACSB: Written and Oral Communication)
Give examples of external sources that might be used to generate good new product ideas for companies.(AACSB: Written and Oral Communication; Reflective Thinking)
Why are customers increasingly vital in the creation of innovative new products and services? How has this come about? (AACSB: Written and Oral Communication;Reflective Thinking)
Why do some companies acquire innovations from other firms instead of, or in addition to, developing their own products? (AACSB: Written and Oral Communication;Reflective Thinking)
Is it problematic if brands from different categories have the same purpose? For example, if Coca-Cola (a beverage brand) and Gap (a clothing brand) both aspire to improve water efficiency, does it diminish or enhance the impact of each individual brand’s efforts to improve water efficiency?
A vehicle hire company wants to introduce a service-profit chain process linking their profits with employee and customer satisfaction. How would they go about doing this? What would you recommend to them? (AACSB:Written and Oral Communication; Reflective Thinking)
Select a local retailer and describe its service profit chain. What would you improve, if anything? (AACSB:Written and Oral Communication; Reflective Thinking)
Explain the four key brand strategy options for a business.Provide an example of each. (AACSB: Written and Oral Communication; Reflective Thinking)
Musical performer Rhianna recently launched her own makeup line called Fenty. If Fenty makeup does not succeed, how could it impact Rhianna as a person brand?(AACSB: Written and Oral Communication; Reflective Thinking)
What are industrial products? Briefly describe the three groups of industrial products. (AACSB: Written and Oral Communication; Reflective Thinking)
What are the four types of consumer products? How do marketing considerations vary by consumer product type? (AACSB: Written and Oral Communication)
What are the three levels of a product—and the value added at each level—that marketers must consider as they develop products (bundles of benefits that satisfy consumer needs)? Provide an example of each.(AACSB: Written and Oral Communication)
What is a service? Can services be differentiated as consumer services and industrial services? (AACSB: Written and Oral Communication; Reflective Thinking)
For the underlyer used in question 1, demonstrate, for a model calibrated at time T > T1, that the implied volatility of options priced for T < T1 will be less than σ regardless of whether a subtractive or additive dividend model is used.
Demonstrate, for a flat volatility surface σ with a single cash dividend at time T1 size D, that the subtractive dividend model correction to the implied volatility is to first order independent of maturity for T > T1.Derive an expression for the size of the volatility shift.
Derive the expression for implied volatility under the subtractive dividend model, and demonstrate that a solution exists only for strikes above the forward value of cash dividends up to the expiry of the option in question.
The derivation of the Dupire local variance formula in this chapter was rather more involved than it needs to be (though the reasons for going down this route will become clear in Chapter 4). The faster method involves applying It¯o’s lemma to the payoff function (S−K, 0)+. Apply this method
Consider a deterministic interest rate model on a proportional dividend paying stock. Demonstrate that, if per unit strike, an undiscounted call of moneyness z and maturity T1 is more expensive than an undiscounted call of the same moneyness and later maturity T2, that shorting 1/K1P(0, T1) of the
Demonstrate that for a continuum of call prices concave in strike over the region [K1,K2], a butterfly spread consisting of a long call struck at K1, a long call struck at K2 and two short calls struck at (K1 +K2)/2 will always make money for the seller. Discuss the meaning of the arbitrage in
Demonstrate that if a call at a lower strike of K1 is less expensive than a call at a higher strike of K2, a call spread where one shorts the higher strike call and goes long the lower strike call will always make money for the seller. (This is referred to as call spread arbitrage.) Derive the
Demonstrate that the solution to the backward equation (2.4) is given by (2.5). (Hint: apply It¯o’s lemma to the expectation of the option price.)
Demonstrate that proportional dividends impact only on the forward used in the Black–Scholes call price expression, not the implied vol, regardless of the stochasticity of interest rates.
Demonstrate, in the case where a rank 2 reduction of the Rebonato FRA correlation matrix is performed, that (7.16) reduces to ρi,j(t) =cos(θi(t) − θj(t)).
How to calculate implied volatility using the Black-Scholes model?
For the log-squared contract used for covariance swap replication in Section 8.5.1, use replication through calls and puts to demonstrate that a negatively sloped implied correlation smile, linear in log(K/FB(T )and calibrated to the vol at strike K = FB(T ) will always be more expensive than the
Demonstrate that for a two-factor bivariate normal distribution contours of equal probability density are described by an ellipse, and derive an expression for this contour at density height ϕ.
Demonstrate that the matrix ρij = λiλj is positive semi-definite for all−1 ≤ λi ≤ 13
For the CPPI formula (6.31), demonstrate that the strategy will breach the bond floor if S(ti)/S(ti−1)−1 < −1/m. Derive the value of an ATM put on such a strategy if m = 1.
Derive an expression for a dividend-free, zero coupon European convert, for conversion ration n, initial stock price S0, face value N0 risk-free rate r, flat volatility σ and flat hazard rate λ. Demonstrate that this must always be above the immediate conversion price St for any time 0 ≤ t ≤
Following the same methodology as Chapter 2, derive the modified Fokker–Planck equation for the evolution of the risk-neutral stock price density, as written in (5.17).
Demonstrate that, in the case where the x(K) → 0 linearly with strike, the implied volatility must necessarily rise asymptotically to infinity.On this basis, explain why any implied volatility surface which remains finite as K → 0 must always underprice puts for a positive expectation of a
Derive an approximate expression (to O(√T) ) for the implied ATM volatility on a stock entirely driven by jump to zero (i.e. zero diffusion vol). Discuss how one might exploit an implied volatility quote below this level.
explain decoy pricing. Is decoy pricing ethical? LOL.1
explain two-part pricing, payment pricing, price bundling, captive pricing, and distribution-based pricing tactics. LOL.1
What is dynamic pricing? What is discriminatory pricing?What is the difference between the two? LOL.1
Explain these psychological aspects of pricing: price–quality inferences, odd–even pricing, internal reference price, price lining, and prestige pricing. LOL.1
What is the contribution per unit for Happy Hummus? LOL.1
What is the break-even volume for the first year that will cover the planned advertising and promotion (1) in units and (2) in dollars? LOL.1
How many units of Happy Hummus must Touch of Beirut sell to earn a profit of $1,000,000? LOL.1
Critical Thinking Many firms wish to market their products to consumers in bottom-of-the-pyramid countries.Being successful now will create consumer familiarity with the brand, establishing a presence in the countries for the future, when their economies improve. In addition to the ways we
What are the advantages and disadvantages of shipping by rail? By air? By ship? By truck? Appendix
What is inventory control, and why is it important? Appendix
For Further Research (Individual) Do a little research and find an example of a firm that attempted to sell a product or set of products online and failed.a. What do you believe are the key factors that led to the failure?b. What could the firm have done differently to increase the chances for
For Further Research (Individual) It is increasingly important for companies to find ways to make their supply chains more sustainable. Find examples of how a company has implemented a sustainable practice within each of the following components of the supply chain:raw materials sourcing,
Calculate the perfect order measurement for the above purchase order process. Interpret your result. Appendix
Do you think the firm should be satisfied with this level of performance? Why or why not? What particular areas need attention, if any? Appendix
Is a zero error rate realistic? How close should a firm be expected to come to zero errors? How do you suggest motivating employees toward reducing these errors? Appendix
. In Class, 10–25 Minutes for Teams As an entrepreneur, you know you want to open a new grocery store, but you aren’t sure what kind of products you want to carry. Discuss the importance of national brands, store brands, and generic brands. Which brand or brands will your new store carry?
. Critical Thinking Should a brand be viewed as socially responsible if the parent company of which the brand is a part engages in activities in direct contradiction to(and generally outweighing) the socially responsible actions engaged in by the brand itself?
Creative Homework/Short Project You just started working for a firm that makes and sells baseball caps.Currently, the firm sells its products only in specialty stores, like lids. You think you can improve sales by branching out to other types of retailers. Prepare a presentation that identifies the
Creative Homework/Short Project Because of increased competition in its community, you have been hired as a marketing consultant by a local day spa. You know that the spa’s quality is judged by both the service provide and the goods (food). the characteristics of services(intangibility,
explain what a destination retailer means and provide some examples that you aware of.if you opened a shoe store, what are some of the design and in-store facilities you could offer to ensure that you become a destination retailer? Do you think that this would provide a sufficient competitive
Critical Thinking most retail store shrinkage can be attributed to shoplifting, employee theft, and retail borrowing.What are some ways that retail store managers can limit or stop shrinkage? What are some problems inherent in security practices? should retailers create stricter merchandise return
Ethics studies have shown—and court rulings have confirmed—that “customer profiling” does take place in u.s. retail stores, whether or not intentional. have you ever been the victim of profiling? have you ever seen a customer treated in such a way that you would assume he or she was a
Critical Thinking experts predict the future of B2C ecommerce to be very rosy indeed, with exponential increases in internet sales of some product categories within the next few years. What effect do you think the growth of e-retailing will have on traditional retailing?Do you think we will have a
Critical Thinking Disintermediation is becoming more commonplace in the service industry, often eliminating a customer’s interaction with, for example, bank tellers or supermarket clerks. how does this lack of interaction affect the customer’s experience? how does this lack of interaction
Critical Thinking there has been a lot of criticism about the way politicians have been marketed in recent years.What are some of the ways marketing has helped our political process? What are some ways the marketing of politicians might have an adverse effect on our government?
inventory management is an important aspect of retail strategy.For example, it is important to know when it is time to reorder and how much to order at a time, a metric called reorder point.as consumers buy a product day after day, the inventory level declines. the question for retailers is how low
explain why you would be more likely to purchase this product online or at a physical retailer in the future.Miniproject 2 the wheel-of-retailing theory (refer to Figure 12.1) suggests that retailers change their overall strategy over time as they become more established. Your task for this mini
Today, traditional brick-and-mortar retailers are faced with competition from B2C e-commerce. What are some of the benefits and limitations of B2C e-commerce? Appendix
In this chapter, we learned that the characteristics of services are intangibility, perishability, variability, and inseparability. Explain each of these characteristics and how they create challenges for marketing services. Appendix
Creative Homework/Short Project Assume that you are employed in the marketing department of a firm that is producing an electric scooter. in developing this product, you realize that it is important to provide a core product, an actual product, and an augmented product that meets the needs of
In Class, 10–25 Minutes for Teams As an entrepreneur, you know that innovation will play a huge role in your new business. With your team, brainstorm briefly to define what your new business will be—let the sky be your limit. then create a short outline that defines the various types of
For Further Research (Individual) Every year, marketers come out with many new or new and improved products.Using the web, research a new or new and improved product and summarize either how marketers developed and tested that product before taking it to market or how they created awareness about
Critical Thinking the chapter outlines five product factors that influence the rate of adoption for a new product.in this section, the textbook outlines the adoption of the microwave oven and some of the challenges it faced in becoming a mainstream kitchen product. in recent years, wearable fitness
A rule of thumb for website effectiveness is that great websites should fulfill three basic criteria: (1) the site should be attractive, (2) the site should be easy to navigate and get where you want to go, and(3) the site should have up-to-date information (no old stuff). When you bounce off of a
Consider the bounce rate metric we describe. Like any marketing metric, decisions should not be made based on the bounce rate alone.What other considerations should the marketer use to evaluate the effectiveness of a website?
How does knowledge of the results of calculating these three aid marketers in making better investment decisions in web strategies?
Do you think one of these metrics is more useful than the others?If so, what leads you to this opinion?
Select a firm that you are particularly interested in and that you believe is pretty innovative.
Do a little research on its website and elsewhere to get a sense for the evidence about how it performs on the Score Card’s criteria for innovativeness.
Summarize your findings; how does the firm score on the Innovation Score Card. Consider each item that requires a rating (e.g., the“Firm Strategy” section of the scorecard) on a scale of 1 to 5 where 5 is the highest or most favorable rating and 1 is the lowest or least favorable rating?
In general, do you find that the firm is more or less innovative than you expected?
Work with one or more other students to come up with a short list of five to seven of your collective favorite brands.
Consider the various aspects of branding you’ve read about in this chapter. What characteristics of each brand caused you to include it on your short list?
Pick any industry and identify the main competitors—this can be any type of product or service line of your choice as long as there are several easily identified competing brands (Hint: Publicly traded firms are easier to research then privately held firms.) Do a little research to find out how
Then, for the same firms, take a look at their most recent reported profits. Based on your findings, does a higher market share translate into a better profit picture?
Spider’s Auto Parts Store ended its fiscal year last month with a cost of sales of $3,600,000 and an average inventory of $450,000. What is Spider’s inventory turnover for that fiscal year?
Spider’s would like to boost its turns to 10 during the next fiscal year. What suggestions do you have that will help them accomplish this objective?
Think back on a service encounter you’ve had in the past few days.This could be either in person or by phone.
Rate the quality of the service on each of the five SERVQUAL dimensions(consider if each aspect was low, medium, or high) and then give an overall rating for the service encounter. Explain why you gave the ratings that you did.
Calculate the CPM for each option.You have a choice of commercials during NCIS or ads in The Wall Street Journal (WSJ). NCIS reaches 30 million members of the target audience, while WSJ reaches 15 million members. CBS is quoting you $500,000 per 30-second spot on NCIS; WSJ charges $200,000 for a

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Marketing Real People Real Choices 9th Global Edition Michael Solomon, Greg Marshall, Elnora Stuart - Solutions

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