...competitors who sell Windows-based personal computers. If Apple is unable to continue to develop and sell innovative new products with attractive gross margins, its results of operations may be materially adversely affected by its operating costs structure. Apple has also been lacking in their business marketing strategies and distribution networks. With regards to the personal computer industry, the familiarity of the Apple software is not there. The original goal of teaching on an apple computer has been over shadowed by Microsoft. Education is now geared toward a version of Windows which is not compatible with Apple hardware. The most important hardware developed by Apple has been the iPod that is capable of downloading mp3 files to a device. Many of Apple’s products are manufactured in whole or in part by third-party manufacturers. While outsourcing arrangements may lower the fixed cost of operations, they also reduce the company’s direct control over production and distribution. This diminished control will have negative effects on the quality or quantity of the products manufactured, or the flexibility of the company to respond to changing market conditions. Apple’s key business marketing strategy in the company’s early years was to market heavily on the educational market. Their assumption was, if students learned computer applications and techniques on Apple computers in school, they would demand Apple products in the business environment, therefore they could migrate their products...
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...The domain name info is a generic top-level domain (gTLD) in the Domain Name System (DNS) of the Internet. The name is derived from information indicating that the domain is intended for informative Internet resources, although registration requirements do not prescribe any theme orientation. The info TLD was a response to ICANN's highly publicized announcement[citation needed], in late 2000, of a phased release of seven new generic top-level domains. The event was the first addition of major gTLDs since the Domain Name System was developed in the 1980s. The seven new gTLDs, selected from over 180 proposals, were meant in part to take the pressure off the com domain.[1] The info domain has been the most successful of the seven new domain names, with over 5.2 million domain names in the registry as of April 2008. After the September 11, 2001 attacks in the United States, the Metropolitan Transportation Authority of New York switched to the easier to remember mta.info website to lead users to latest information on schedules and route changes on the area's transportation services. Even in 2013, a website, Current Score info, was formed to provide current score of Football and Cricket across India. ICANN and Afilias have also sealed an agreement for country names to be reserved by ICANN under resolution 01.92.[2] info is an unrestricted domain, meaning that anyone can obtain a second-level domain under info for any purpose, similar to the com, net or org domains. This is in contrast...
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...Marketing management orientations are different marketing concepts that focus on various techniques to create, produce and market products to customers. Companies use these orientations as a basis for their marketing campaigns. There are five different marketing management orientations including marketing, production, product, selling and societal marketing concepts. Other People Are Reading Types of Business Orientation The Difference Between a Marketing Plan & a Marketing Strategy Marketing Concept One of the five marketing management orientations is the marketing concept. The marketing concept is based on the belief that a company must create, deliver and market products more efficiently than the competition in order to turn a profit. To implement this concept, managers focus on researching the target market and customer's needs along with marketing the product in an integrated manner. Production Concept The production concept, the oldest marketing concept, is based on a belief that consumers prefer low prices and product availability. To implement the production concept, managers concentrate on low costs, mass distribution and high production efficiency. The production concept is mostly useful in developing countries where consumers are focused on obtaining products, rather than focused on the features of a product. Sponsored Links Try SMS Finance Marketing Try Finance Marketing With Free SMS Get Effective Finance Marketing ROI www.texttank.co.uk/Finance ...
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...Lesson 04 Decision Making Solutions Solved Problem #1: see text book Solved Problem #2: see textbook Solved Problem #3: see textbook Solved Problem #6: (costs) see textbook #1: A small building contractor has recently experienced two successive years in which work opportunities exceeded the firm’s capacity. The contractor must now make a decision on capacity for the next year. Estimated profits under each of the two possible states of nature are shown in the table below. The units are in $ thousands. Next Year’s Demand Low High 50 60 20 80 40 70 -AlternativesDo nothing Expand Subcontract a. Calculate the regret table. -AlternativesDo nothing Expand Subcontract Low High 0 30 10 20 0 10 Determine the alternative and payoff /regret which should be selected for the decision criteria in each of the following questions. b. Maximax (best of all possible alternatives)? Expand – payoff $80 thousand c. Maximin (best of all the worst alternatives)? Do nothing – payoff $50 thousand d. Laplace (best of the expected payoffs for all alternatives)? Tie between Do nothing and Subcontract – Payoff $55 thousand e. Minimax regret (least of all the maximum regrets for each alternative)? Subcontract – Regret $10 thousand #2: Refer to problem 1. Suppose after a certain amount of discussion, the contractor is able to subjectively assess the probabilities of low and high demand: P(Low) = .3, P(High) = .7. a. Determine the expected profit fore each alternative? Do nothing - $57 thousand...
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...Problem: Car Services Ltd (CSL) rends motor vehicle breakdown recovery service to its members. It attracts new members through a television advertising campaign that encourages potential clients to telephone a free call number for further information and the opportunity to immediately enroll with a credit card. Members are offered the choice of three levels of annual service contract in descending order of coverage and price: Gold, Silver and Standard. The telephone inquiries come through to a call centre staffed by CSL employees at the company’s premises who are paid a basic salary and a bonus of each new member that they successfully enroll. Located in the same building on another floor is the Car Hospital (CH) team who take the calls from the stranded motorists and arrange for a franchised garage to deal with the breakdown. These garages are independently owned and CSL pay them a fee for every callout that they undertake. CSL has recently (after January 2004) commenced employing trained mechanics on enhanced salaries to dispense technical advice to members on the telephone in the hope that a proportion of the call-outs to franchised garages will be avoided. Detailed information on costs, revenues, business activity and staff is displayed in the following tables. Table 1 Cost, Revenue and business Activity data for 2004 | |Gold |Silver |Standard | |Annual...
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...The Architecture Company An architecture company was invited to submit, until the end of February, two proposals regarding two new university buildings. The preparation of a proposal for the first building involves a cost of forty (40) thousand Euros. Preparing a proposal for the second building costs twenty (20) thousand Euros. If the proposal for the first building is accepted, the company will earn one hundred and twenty (120) thousand Euros. If the proposal for the second building is accepted the earnings will be seventy (70) thousand Euros. The final profit is given by the total earnings (resulting from the accepted proposals) minus the total costs of preparation of the proposals. The architecture company has the option to submit no proposal, to submit a proposal for only one of the buildings, or to submit proposals for the two buildings. Any of the submitted proposals may be accepted or rejected. If two proposals are submitted, it is possible that none is accepted, only one is accepted, or both are accepted. In the particular case that both proposals are submitted and both are accepted then there will be severe problems implementing both projects simultaneously implying an extra cost of fifty (50) thousand Euros (to be deducted from profits). There is a 50% probability that a proposal for the first building is accepted. The probability that a proposal for the second building is accepted is 50%. The acceptance of one proposal is independent of the acceptance...
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...link that says, “Submit an Assignment.” * In the “Submit to Basket” menu, select Unit 7 Project. * In the “Comments” field include your name. * Click the “Add Attachments” button. * Follow the steps listed to attach your Word Document. * You should revisit the Dropbox to view any helpful feedback your instructor has and to retrieve your graded project. * Make sure that you save a copy of your submitted project. 1. Even though independent gasoline stations have been having a difficult time, Susan Solomon has been thinking about starting her own independent gas station. Susan’s problem is to decide how large her station should be. The annual returns will depend on both the size of the station and a number of marketing factors related to oil industry and demand for gasoline. After careful analysis, Susan developed the following table: Size of Gasoline Station | Good...
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...6. Is it advisable to purchase any of the available 100,000 lbs of grade A tomatoes? (use the sensitivity report from question 2). If so, (a) how much should we buy? (b) How will the additional tomatoes be used? In order to figure out if we should buy and by how much we should purchase, we made some modifications associated with our model. First of all, we need to add one more decision variable, Additional A, which is the amount of extra grade A tomatoes we decide to purchase. Then we need to change the profit formula to subtract additional purchase cost, which is $0.15*Additional A, the deal Gordon had to purchase up to 100,000 lbs. grade A tomatoes. Also, we need to change the constraint for A grade tomatoes from 600,000 lbs. to (600,000+Additional A) lbs. The last step is to add another constraint to make the decision variable Additional A can be no more than 100,000 lbs. When we ran sensitivity analysis, the shadow price for grade A tomatoes is $0.27, which means when the company increases 1 lb. of grade A tomatoes available in production process, the total profit will increase by $0.27. So as long as the purchase price less than the shadow price, company should purchase extra grade A tomatoes. Moreover, the allowable increase for constraint of amount of grade A tomatoes available is 1,400,000. It means any amount of additional grade A tomatoes under 1,400,000 lbs. will be feasible to purchase to increase profit. Thus it is a good idea to purchase whole 100,000 lbs...
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...Assignment No.2 Production Operations Management Decision Making Under Certainty, Uncertainty, Environment is effect on the decisions which are making undercertainty.Certainty and undercertainty are reciprocal to each other,the degree will be vary certainty to uncertainty Decisions making associate with different kinds of risks. Certainty situation refer to who people think they are making reasonable decisions and what will be next in future and they predict analysis and make decisions . The reliable information will help to considered the cause and effect the matter is come to know about relationship for both uncertainty and certainty. Uncertainty situation reffer to people have data base which is not sufficient and reliable data which base brings sure accurate result so this becomes a not sure able result which tells neither good nor bad results. Evaluation of different variables for interaction is so difficult,For example if i start to expand the business in Chinese market but I have nominal and not sufficient information About china culture,climate,political situation ,Govt laws,policies,norms,values etc. It will be more difficult in situation to start business. Founder of Pakistan Quid-E_Azam says”I don’t like to take Right Decisions….!!!!! “I take decisions and make them Right. Correct Pay off table Alternative Low(125dozen) Medium(800dozen) High (1750 dozen) Small facility 15625 15625 15625 Medium facility...
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...Administrative Unit: Business Administration Department Course Prefix and Number: BUSI 508 Course Title: Decision Science for Business Number of: Credit Hours 3 Lecture Hours 3 Lab Hours 0 Catalog Description: Examination of quantitative skills useful to managers. Discussions focus on selected algebra topics, mathematics for finance and descriptive statistics and probability. Prerequisite: Knowledge of college algebra, Excel, or other computer spreadsheet applications is important. Prerequisite(s) / Corequisite(s): Knowledge of college algebra, Excel, or other computer spreadsheet applications is important. Text(s): Most current editions of the following: Spreadsheet Modeling & Decision Analysis By Cliff T. Ragsdale, Ed. (Thomson Southwestern) Recommended Course Objectives To understand a variety of quantitative methods. To emphasize presentations, peer review and application of quantitative methods. Measurable Learning Outcomes: Use linear programming for optimization and modeling business applications. Apply the concept of sensitivity analysis. Apply regression analysis for problem solving in business applications. Explain queuing theory. Evaluate risk assessment and project management. Topical Outline: • Optimization linear programming • Modeling LP problems • Sensitivity analysis • Network modeling • Regression analysis • Integer linear programming • Project management Culminating Experience...
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...DECISION THEORY & DECISION TREES(Decision making under risk) Janet Kim, president Kim Manufacturing, Inc., is considering whether or not to build more manufacturing plants in Wisconsin. She has developed the following pay-off table for her decision: Payoff in dollars Alternative Build large plant Build small plant Don’t build Market probabilities Favorable Market 400,000 80,000 0 0.4 Unfavorable Market -300,000 -10,000 0 0.6 (a) Use the expected monetary value approach to determine the decision that Kim should make. (b) Use the expected opportunity loss (regret) approach to determine the decision that Kim should make. (c) What is the expected value of perfect information? Class Example 2 (Decision making under uncertainty) Even though independent gas stations have been having a difficult time, Susan Solomon has been thinking about starting her own independent gasoline station. Susan’s problem is to decide how large her station should be. The annual returns depend on both the size of her station and a number of market factors related to the oil industry and demand for gasoline. After a careful analysis Susan has developed the following table: Size of gas station Small Medium Large Very large Payoff in dollars Good Market 50,000 80,000 100,000 300,000 Fair Market 20,000 30,000 30,000 25,000 Poor Market -10,000 -20,000 -40,000 -160,000 (a) What is the Maximax (optimistic) decision? (b) What is the Maximin (pessimistic) decision? (c) What is the criterion of realism decision...
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...under the Instructor-Graded Projects: * Steps for accessing the States Data file: 1. Open your Excel with PhStat2 2. Click File—Open 3. Select the States Data file * Not all questions require the use of technology or the States Date file. * You may insert your answers, including any charts, graphs, or output, on this document. * Be sure to put your name on this document and save it to your computer. 1. Even though independent gasoline stations have been having a difficult time, Susan Solomon has been thinking about starting her own independent gas station. Susan’s problem is to decide how large her station should be. The annual returns will depend on both the size of the station and a number of marketing factors related to oil industry and demand for gasoline. After careful analysis, Susan developed the following table: Size of Gasoline Station | Good Market ($) | Fair Market ($) | Poor Market ($) | Small | $70,000 | $30,000 | -$30,000 | Medium | $110,000 | $50,000 | -$40,000 | Large | $170,000 | $70,000 | -$50,000 | 1. Develop a decision table for this decision. 2. What is the Maximax decision? Maximax decision would be starting a large gasoline station. This is the optimistic approach which results in the highest of all possible payoffs ($170,000). 3. What is the Maximin decision? Maximin decision would be do nothing. This is the best of the worst alternatives ($0). 4. What is the criterion of realism...
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...8.12 Practice Problems and 9.3 Practice Problems Click Link Below To Buy: http://hwcampus.com/shop/8-12-practice-problems-and-9-3-practice-problems/ Problem 2 Build-Rite construction has received favorable publicity from guest appearances on a public TV home improvement program. Public TV programming decisions seem to be unpredictable, so Build –Rite cannot estimate the probability of continued benefits from it relationship with the show. Demand for home improvements next year may be either low or high. But Build-Rite must decide now whether to hire more employees, do nothing, or develop subcontracts with other home improvement contractors. Build-Rite has developed the following payoff table. Payoffs Demand For Home Improvements Alternative Low Moderate High Hire ($250,000) $100,000 $625,000 Subcontract $100,000 $150,000 $415,000 Do nothing $50,000 $80,000 $300,000 What is the decision based on each of the following criteria. Show work in making the decision for each criterion: a) Maximax b) Maximin c) Criterion of realism with coefficient of realism = 0.7 d) Equally likely e) Minimax regret Use the tables given below. a) Optimistic or Maximax Criterion Payoffs Demand For Home Improvements Alternative Low Moderate High Hire ($250,000) $100,000 $625,000 Subcontract $100,000 $150,000 $415,000 Do nothing $50,000 $80,000 $300,000 Decision: b) Pessimistic or Maximin Criterion ...
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...BUYING AND MERCHANDISING – 27/02/2014 Data warehousing: * Data warehousing is the electronic storage of all info about current customers. * Traditionally this info was used for financial and accounting purposes only. * We now use this info for marketing purposes as well. * Information is primarily gathered via the credit card base of the retailer. * Data warehouses are also used as a single source for the retailer to view key performance indicators (sales, margin, stock, profit, etc.) * This involves the transference of data from operational systems (till points) to analysis reporting systems. * Info is available with immediate effect to decisions makers (buyers/planners) and suppliers. * Data warehousing results in: * Improved selection of merchandise * Stronger partnerships with suppliers * Successful promotions * Offering the right merchandise, @ right time, right people @ right place right people! * Implementing data warehouse is the easy part. The hard part is deriving meaning from the data. Data mining: * Involves searching through warehouse data to find trends and patterns. * Can be used to identify opportunities and threats in the company * Data mining is software capable of finding/ detecting meaningful patterns & relationships between figures. Can print specialized reports * However, it is up to PEOPLE to analyse the figures on the reports. General types of data produced by data mining: ...
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...Chapter 1 Marketing used by consumers to make purchase descions Mobile and internet market newest and most expensive methods American Marketing Association (AMA): represents marketing professionals in US & Canada * Marketing (2007)- activity, set of instructions, and processes for creating, communicating, delivering, and exchanging offering that have the value for customers, clients, partners, and society at large Exchange: central concept of marketing, basic use of marketing activities to create relationships with customers. 2 or more parties with something of value ot exchange, way to communicate w. eo * Not all marketing transactions involve exchange of money. Nonprofits use ads to bring in more donations Value: how customer views benefits of a product or service weighed against the cost of buying and cosuming it * Benefits can be functional, experiential, &/or psychological Marketing mix- Product, Place, Price, Promotion Integrated Marketing Communication (IMC)- coordinating various promotional elements and other marketing activities that communicate w/ the firms customers. Marketing Revolution: * Shifting of marketing expendistures from traditional media advertsing to other forms of promotion, and nontraditional media * Rapid growth of the internet and social media that’s changing the nature of how companies do business and the ways they communicate and interact with customers * Shift in marketplace power from manufacturers to retailers ...
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