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Marketing Decision Use Problems

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1. The following list represents examples of management decision problems. Restate each of these management decision problems to represent marketing research problems.

a.Should a new product be introduced?
b.Should an advertising campaign that has run for three years be changed?
c.Should the in-store promotion for an existing product line be increased?
d.What pricing strategy should be adopted for a new product?
e.Should the compensation package be changed to better motivate the sales force?

2. The following list represents examples of marketing research problems. Restate each of these marketing research problems to represent management decision problems:

a.Estimate the sales and market share of department stores in a certain metropolitan area.
b.Determine the design features for a new product that would result in maximum market share.
c.Evaluate the effectiveness of alternative TV commercials.
d.Assess current and proposed sales territories with respect to their sales potential and workload.
e.Determine the prices for each item in a product line so as to maximize total sales for the product line.

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1.
a. Determine the feasibility and profitability of introducing a new product.
b. Evaluate the effectiveness of the current advertising campaign.
c. Assess the in-store promotion for an ...

Solution Summary

The solution discusses marketing decision use problems.

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Use the Marketing area to enter a Price, Promotional Budget, Sales Budget, and Sales Forecast for each product. Accounts Receivable (A/R) and Accounts Payable (A/P) finance decisions are also entered in the Marketing area.

Rules for Marketing.
Use the Marketing area to enter a Price, Promotional Budget, Sales Budget, and Sales Forecast for each product. Accounts Receivable (A/R) and Accounts Payable (A/P) finance decisions are also entered in the Marketing area.

Although the marketing area provides a Computer Prediction, this is a rough estimate so you must determine the true forecast and enter it in the Your Sales Forecast cell (see the Forecasting section). Also, you must ensure that product prices are within the range found in the Market Segment Analyses of The Capstone® Courier.

Remember, price ranges drop $0.50 per year, so the ranges for the upcoming year will be $0.50 less than those published in the Courier. When decisions are entered, the Marketing area computes Gross Revenues, Cost of Goods, and Contribution Margin.

Marketing decisions for a new product cannot be made until the product is available for sale.

Rules for Finance
Finance Your Finance Department is primarily concerned with five issues:

Acquiring the capital needed for company activities. Capital can be acquired through:
Current Debt
Stock Issues
Bond Issues (Long Term Debt)
Profits
Establishing a dividend policy that maximizes the return to shareholders.
Setting accounts payable and accounts receivable policies (which are entered on the Marketing spreadsheet).
Driving the financial structure of the firm, its relationship between debt and equity.
Selecting and monitoring performance measures that support your strategy.

Also: Change the areas in green (spreadsheet). This is a simulation exercise that I'm working on. I just need recommendations on what to change.

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