...the dark and will provide a musical sound as the bicycle is pedaled. Phil plans to purchase materials for making the product from others, assemble the products at the venture’s facilities, and hire product sales representatives to sell the Pedal Pushers through local retail and discount stores that sell children’s bicycles. Phil will need to purchase plastic pedals and extensions, bolts, washers and nuts, reflective material, and a microchip to provide the music when the bicycle is pedaled. • A. How should Phil organize his new venture? In developing your answer, consider such factors as amount of equity capital needed, business liability, and taxation of the venture. Phil should organize his new venture by proprietorship. With that said he should hire one sales representative. And he could be the other representative. As for the materials they aren’t hard to buy nor are they expensive. Phil is going to take the grunt of the liability but in the beginning stage they are low costs and the risk is not high. • B. Phil is concerned about trying to protect the intellectual property embedded in his Pedal Pusher product idea and prototype. How might Phil consider protecting his intellectual property? I would recommend Phil a patent. If patenting Phil’s product ends up being too expensive Phil could consider doing a trademark, although a patent would provide more protection for Phil’s product. • Calculate the inventory-to-sale conversion period for 2010. ...
Words: 480 - Pages: 2
...Product Purchases and the Economy Christian Scheminant ECO/372 May 10, 2016 Mr. Michael Kraynik Product Purchases and the Economy For this paper I’m going to select buying a home as my product of purchase since I’m currently in the market of selling my existing home and purchasing a new home. When considering making large financial purchases in today’s economic world, you have to take into consideration the possible long-term effects on your financial situation, current budget or future outcome. You have to ask yourself if the purchases you want are ideal and are you in a financial position to make such a significantly large purchase. There are so many factors to consider than just personal obligations or wants, but is it economically sound in today’s market as well. In this paper, I will talk about and try to explain some of the economic indicators such as interest rates and inflation rate as well as job market for the area. While considering if any of these indicators impact the supply for what I will demand over a two year period. Also in this paper, I have to answer how I might apply my understanding product, and how I am considering purchasing versus the supply and demand. Also I need to describe the impact on the price of the home and whether making the purchase should or should not occur or possibly be beneficial to me. Lastly, I will see if there are any macroeconomic shifts in supply or demand affecting the price of the Home. Thus, leading to the final...
Words: 1228 - Pages: 5
...behavior refers to a discipline dealing with how and why consumers purchase (or do not purchase) goods and services (Schiffman, 2011). I did the qualitative analysis for this research. This report expounds an interview of two consumers who purchased 5D Mark II recently, and sorts the answers into five decision-making process steps (Problem recognition; search for information; evaluation of alternatives; outlet selection and product purchase; post purchase processes including customer satisfaction and consumer loyalty) (Quester, et al. 2011), and compare the differences in response and behavior between the two interviewees. In addition, this report discusses ‘consumers prefer choose known brand’ and the factors influenced consumers’ behavior. 2. BODY 1. Background Information I select Canon DSLR (Digital Single Lens Reflex) 5D Mark II as marketing research object. [pic] Back in August 2005 Canon 'defined a new DSLR category' (their words) with the EOS 5D. Unlike any previous 'full frame' sensor camera, the 5D was the first with a compact body (i.e. not having an integral vertical grip) and has since then proved to be very popular, perhaps because if you wanted a full frame DSLR to use with your Canon lenses and you didn't want the chunky EOS-1D style body then the EOS 5D has been your only choice (Don & Askey, 2009). Three years on and two competitors have turned up in the shape of the Nikon D700 and Sony...
Words: 2629 - Pages: 11
...Danone Aqua | A Study on the Preferred Features of Bottled Water | What are the preferred features that consumers would consider in buying a certain bottled water brand? | | Maisha Chowdhury | 7/21/2014 | | 1 Introduction Consumers often buy bottled water, but what exactly are they thinking when they pick one brand over the other? We aim to conduct a study, with the aid of a questionnaire in order to find out these preferred features in a bottle of water. We will be doing this on behalf of Aqua. We have conducted a survey, by passing around a questionnaire in order to help answer our question. Following are our Research question, research objectives, research plan, implementation and interpretations of our findings as well as our conclusion and recommendations. 1.1 Problem definition and Development of research objectives On behalf of Aqua we would like to find out what are the preferred features that consumers would consider when buying bottled water. We would like to help Aqua find out what is liked by consumers so that the company can continue to improve upon their product and give the customers a better version of the product. Research Question: What are the preferred features that consumers would consider in buying a certain bottled water brand? The main objective in trying to find the preferred features that consumer would consider in buying a certain bottled water brand, is to recommend water company to focus and improve the features of their water...
Words: 4868 - Pages: 20
...Case 10: Ford: Supply Chain Strategy I. Introduction/Background Ford Motor Company is widely regarded as one of America’s premier automotive manufacturers and the second largest industrial corporation in the world, with operations in over 200 countries. Ford was established by Henry Ford in 1903, and is still standing strong today. Although Ford has significant revenues from its financial services, its core business is the design and manufacturing of motor vehicles. Due to overcapacity within the automobile industry, Ford developed a restructuring plan called Ford 2000 that focused on globalizing corporate organizations and taking advantage of economies of scale. Ford 2000 completely re-engineered several of Ford’s key processes including the Ford Production System (FPS) and Order to Delivery (OTD). FPS was created to convert Ford’s supply chain from a push strategy to a pull strategy. To increase supply chain efficiency, Ford aimed at reducing the number of suppliers that had accumulated over the years. Ford accomplished this by developing a closer, long term relationship with fewer suppliers referred to as “Tier 1” suppliers. These suppliers would provide complete vehicle subsystems for Ford. Tier 1 suppliers work closely with several Tier 2 suppliers who provide the components for the Tier 1 subsystems. Another initiative taken by Ford to improve their supply chain was the Ford Retail Network. This helped reduce competition among its dealership in the same region...
Words: 924 - Pages: 4
...that would hold up to 30 monks. Father Mary’s idea included a Gothic church, and convent for Carmelite nuns, a retreat center for lay visitors, and a hermitage. For such a purchase to be successful, Mystic Monk Coffee, owned and operated by the Carmelites to support the monastery, will have to purchase a new larger 130-pound-per-hour coffee roaster for $35,000 to meet future purchasing demands of their coffee products. Father Mary’s mission for the Wyoming Carmelite’s is to continually grow the monastery by screening and accepting young men between the ages of 19 and 30 years old who are willing to commit their life to the Catholic Church. The monks at the monastery grow and produce high-quality organic Arabica beans, and promote and sell a variety of coffee blends to customers mainly from Catholic parishes. The sale of Mystic Monk’s coffee is essential as it supports the religiously dedicated Carmelite Monks of Wyoming who have promised their life to worship. To achieve his vision, Father Mary’s strategy is to purchase a larger, 130-pound-per-hour roaster so when the demand approaches the current roaster’s capacity, Mystic Monk will be ready to fulfill the customer needs and wants. With higher product capacity, Father Mary will have the ability to meet a higher demand for Mystic Monk coffee products, which would to some extent, put him at a competitive advantage to other coffee producers. However, Father Mary does not express viable definitive objectives and performance...
Words: 1266 - Pages: 6
...various types of behaviors; such as information contact, funds access, store contact, product contact and transaction behaviors. Information contact behavior is mostly a part of online grocery shopping, where consumers used to search their required products and order through online processes. The fund access behavior is also used in online grocery shopping while purchasing products through online by using their credit/debit cards or net banking. Sometime, customers used to order through online but visit the nearest stores to bring the product after inspecting; such as fresh vegetables, milk products and meat or animal proteins etc. therefore, they must search for the nearest store and product and contact them to bring those pre-ordered products. There are several behaviors involved in online grocery shopping. For peapod grocery, the order were filled at affiliated stores and delivered to the customer’s home in a ninety minute time period; this save the customers time and reduced the stress that grocery shopping often causes due to lack of time and overcrowding. For these conveniences, the consumers were willing to pay a monthly fee as well as a fee per order that included the services of packaging, transporting, and delivering. Most of the items available for this service are brand name goods, which caused little risk in the consumers mind in purchasing their products and their goods ending up not being quality. Even produce and meat are able to be ordered without much concern. Online...
Words: 4522 - Pages: 19
...efficient integration of various processes involved in turning resources into consumer products. Effectiveness of the supply chain is more easily understood in terms of Value Chain Management, and the integration of processes that turn resources into consumer value. The current paper reports two studies into the value chain of organic produce in Netherlands. The paper combines two different research approaches to study which consumer motives and values are the main drivers of organic consumption. These motives are centered on hedonic, benevolent, and Universalist values. The study reconfirms earlier findings that health and taste are important motives driving organic food consumption, and that next to this environmental friendliness and naturalness are important drivers. More fundamentally, the consumption value of organic food is strongly related to social and ethical principles and beliefs. By committing it to superior ethical performance the organic supply chain could create a competitive advantage that is not easily copied by competing products. Objectives of the Study The basic objective is to understand consumer product knowledge and motivations with respect to organic products. In other words, this research focuses on the consumers’ beliefs towards organic products and the factors that influence their decisions on whether or not to purchase the organic agricultural products. Principles of organic farming are: * Ecologically, economically and socially responsible...
Words: 1480 - Pages: 6
...to the LA Dodgers logo. Both logos consist of the use of the letters “LA”. Both logos also only consist of those two letters. An individual that was not an avid baseball fan could confuse the two logos as being from the same team as both also use a similar blue and white font and the Chargers version of the logo simply appears as a italicized version of the Dodgers logo. • Similarity of goods and services o Both logos represent teams that...
Words: 1317 - Pages: 6
...order to produce output. The transformation of raw materials into finished goods or services has been a major factor in any economy as this is the major attributes that has help build today’s economy since the beginning of most economies worldwide. Production on its own is insignificant as there are several factors to consider when producing the end product. This is what is known as the factors of production. FACTORS OF PRODUCTION There are several factors of production to consider. They are; a) Capital b) Scarcity c) Technology d) Cost of production e) Opportunity cost f) Fixed cost and variable costs g) Production possibilities h) Resources i) Price The above factors each affect production in their own way. A deeper look into them will reveal each of these factors’ contribution to the production process. A. Capital Capital, according to Ronald M and Robert A, (2003), this is anything that is produced in order to increase productivity in the future. Along with human capital, there is physical capital, which includes buildings, machinery and other equipment. Capital can also be monetary which is required to boost production by enabling purchase or raw materials and the equipment required to process it. Capital in more ways than one is a major factor as it affects any other aspect of production. Without it production cannot take place as capital provides the means for the processing to take place. Capital to most firms is the building block of any business as...
Words: 2253 - Pages: 10
...“Inside the Mind of the Shopper” book, I explored some of the key features from the shopper purchase behavior, the quick trip, three moments of truth for the shopper, in-store “migration” patterns, and how to put products in the path of customers through anticipatory retailing. I also looked at how manufacturers and retailers could collaborate better in shaping flow and adjacency to sell more products in stores. With the development of new digital technology, the penetration of the online browsing, and the conveniences to compare products, more and more customers begin to choose to do the grocery shopping by click-through internet on their personal computers or smartphones. Peapod is one of the online retailer that allows us to study the click-click-click shopper behavior resemblance to what we studied on the physical store. Founded in 1989 by brothers Andrew and Thomas Parkinson, Peapod has grown from a small family-run shopping and delivery service in Illinois to America's leading Internet grocer, delivering more than 23 million orders across 24 U.S. markets. Sorensen’s key concepts application 1. Shopper kinds In Sorensen’s book, we has learned about the three kinds of shoppers: Quick trips-These shoppers spend a short time in a small area, with a relatively slow walking speed but high spending speed. A third of all trips to the supermarket result in only one or two items being purchased, with fully half of all trips consisting of five or fewer items purchased. Short...
Words: 1842 - Pages: 8
...Nus Business School Nus Business School NG PEI SHI, SHERBY | A0100673R | TAN GUAN HUA CHARLENE | A0099769X | TAN QIAO HUI | A0100888B | TAN YI XIN | A0100986A | | | NG PEI SHI, SHERBY | A0100673R | TAN GUAN HUA CHARLENE | A0099769X | TAN QIAO HUI | A0100888B | TAN YI XIN | A0100986A | | | MKT3420 Promotional Management MKT3420 Promotional Management TABLE OF CONTENTS 1.0 AcknowedgementS1 2.0 DEscription of chewy junior 2 2.1 Target Market 2 3.0 Current Marketing Tactics3 3.1 Price 8 3.2 Promotion 9 3.3 Products 11 3.4 Implications 13 4.0 Market Research 14 5.0 Recommendations 14 5.1 Overview and Objectives14 5.2 Phase 1: Standardization across outlets15 5.3 Phase 2: Integrated Marketing Campaign16 5.3.1 Part A: Encouraging Existing Customers to increase Quantity Purchased16 5.3.1.1 Loyalty Card16 5.3.1.2 ‘Sharing Happiness’ Contest18 5.3.1.3 The Box for Sharing23 5.3.2 Part B: Increasing Brand Awareness25 5.3.2.1 Active In-store Sampling 25 6.0 Conclusion 27 Appendix A 29 Appendix B 33 1.0 Acknowledgements First and foremost, we would like to thank Mr Kevin Ong, the Founder of Chewy Junior, for this valuable opportunity to write up this proposal. He has provided us with great assistance in the assembling of this report, by assisting us with the necessary information. Besides, we would like to thank our professor, Prof Patricia Chew, for the valuable guidance and advice. She inspired us greatly in writing up this...
Words: 5739 - Pages: 23
...do all my grocery shopping. The two aisles I choose was the: Cereal Aisle and bread Aisle in order to see how consumer behavior varies for different products. In addition, realizing that consumers may behave differently depending on time of the day it is, I visited the store twice, once in the middle of week (around 2pm when there are not many shoppers there) and (around 5-6pm when the store is usually packed) with people getting off work and making a stop at the grocery store. Analyze the behaviors you observed to determine how consumers progressed through the consumer behavior process while in different aisles. I observed 5 consumers in total, consumer A-B-C in the cereal aisle and consumer D and E in the Bread aisle. The details are listed in the Appendix. When making a purchase decision, a consumer goes through a process which is often composed of stages: recognition, information search, alternative evaluation, purchase decision, and post-purchase behavior. In this experiment, consumers recognized that they have the need to buy cereal or bread food goods. At the store, these consumers faced many options, especially for cereals. I have always been overwhelmed by how many types of cereals that the local grocery store carries. These consumers made their purchase decision based on price, value and familiarity with the product. After making their decision, these consumers showed different post-purchase behavior. Some of them picked the product and quickly left the aisle and...
Words: 1447 - Pages: 6
...Financial Planning Assignment 1. From the goal setting sheet choose two monetary goals – one that will be achieved during this school year and one that is intermediate term (2 to 5 years). Reproduce the goals you chose – include the amount needed, months to achieve, action to be taken, and priority. For each goal, identify one constraint or reason why you may not reach the goal. (2 marks) A short term monetary goal that will be achieved during this school year is for me to save enough money to purchase an iPhone and have enough money to not only pay for the purchase price of the iPhone, but some money to cover a couple of monthly plan fees. The amount that will be needed to accomplish this goal will be around $600, which will be achieved in about 3 months. My plan of action in order for this goal to be accomplished is to set aside $200 each month from my part time employment to pay for the purchase price of the phone and initial monthly payments, which is a high priority for me. One constraint that will prohibit me from reaching this goal is if there were to be an increase in the cost of the purchase price or an increase in the cost of plans. An intermediate monetary goal that will be achieved in 2 to 5 years will be to pay off my car loan. The amount that will be needed to accomplish this goal will be $7,500 which will take 36 months (3 years) to be paid. I will do this by putting aside a set amount each week from my part time employment paycheck in order to complete this...
Words: 886 - Pages: 4
...home to purchase you have to make the decision to buy a home. My husband and I have accepted the challenge of making the final decision on whether to purchase a home or continue renting. First we sat down and made a list of all the things we needed to consider before jumping into purchasing a home. The next step we took was to make a list of pros and cons for our current renting situation and for making the choice to purchase a home. From there meeting with a relator and then a mortgage consultant would be our next step. We would like to share our process with you and why we made the decision we did. One of the first things to consider, other than your budget, is to look at Mankiw’s Economic Principles. Within the ten principles you will find how relating those to your purchase can help you in your decision. We chose to focus on the first and second principle because I felt those were the best principles that settled in on what we needed to put into perspective when making the decision. The first principle discusses trade- offs. For example, my family and I currently live in an apartment so if something breaks all we have to do is make a call to the landlord and it is fixed for free but if we were to purchase a house all repairs would be on our dime. Is that trade off worth paying for something that would actually be ours? Another trade off to owning our home would be the extra expenses. Currently we just pay rent plus an electric bill. If we were to decide to purchase our own...
Words: 1805 - Pages: 8
