...Unit 10 Market Research Learning outcome: Understand the main types of market research to make marketing decisions Unit 10 Market Research Learning outcome: Understand the main types of market research to make marketing decisions Learning outcome 1: Understand the main types of market research used to make marketing decisions. Primary research * Surveys - A survey is when you ask a few people a question or a series of question in order to gather information about what they do or what they think. Observations * Face to face – face to face is when you speak to someone facing each other and in full contact with them. * Field research - Field research is the collection of information outside of a laboratory, library or workplace setting. * Questionnaires – questionnaires is a set of printed or written questions with a choice of answers, which is similar to surveys. * Sampling - Sampling is the process of selecting units (e.g., people, organizations) from a population of interest so that by studying the sample they give results back to the population from which they were chosen. For e.g. Kellogg’s before they released them breakfast bars, they gave a few samples out to the public to see what they think and once they get the results then they will re consider on carry on producing the product or putting a stop to it. * Focus groups – focus groups is speaking with small groups of 8-10 people, more insightful questions can be asked regarding brands...
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...The Behaviourist Perspective The behaviourist perspective which psychologists used to explain all human behaviour came from two main authorities Ivan Pavlov (1849-1936) and Burrhus Frederic Skinner (1904-1990). Both Pavlov and Skinner believed that all types of behaviour were as a result of the learning process. This process of learned behaviour includes personality traits, like confidence, shyness, optimism, pessimism, happiness and depression. Pavlov’s theory of learning is called classic conditioning. In his work with dogs, he attaches monitors to the dog’s mouths and stomachs so he could look at the production rate of saliva so that he could understand their digestive systems. During his work one of his assistants brought some food into the room and Pavlov saw that the dog began to salivate. Until then salivations was believed to be a reflex response and didn’t occur until the food entered the mouth and touched the tongue. Pavlov suggested the dog’s reaction was because he was due to his learned association that the laboratory assistant as the response of salivation was linked to the food and salivation is not a learned response Pavlov referred this as unconditioned response (UR). Because the reaction was caused by the food he referred to this as an unconditioned stimulus (US). To test this theory Pavlov gave the dog food whilst ringing a bell over a period of time, Pavlov wanted to test to see if the dog would learn to salivate when the bell rang, after a number of trials...
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...In psychology there are many different approaches. An approach is a perspective that involves certain beliefs about human behaviour. Such as the way they function, which features of them are worthy of study and what research methods are suitable for undertaking the study. Within an approach, there will be several different theories which share common assumptions. Each perspective has its strengths and weaknesses and has something different to our understanding of human behaviour. There are six perspectives in psychology, which are: Behaviourism Social learning Psychodynamic Humanistic Cognitive Biological The biological approach The biological approach examines thoughts, feelings, and behaviours from a biological and physical point of view. Arnold Gesell (18808-1961) believed that development occurred to a sequences of maturational processes. For example, development in the womb follows a fixed set of stages: the heart begins to form first, along with a rudimentary nervous system. Bones and muscles develop next and over time the organism developed into a fully functioning human being, ready to be born. Through Gesell’s observations and research, Gesell concluded that children go through predictable stages of growth. Gesell’s theory form the basis for just about every other developmental theory. Gesell believed that child development occurs according to a predetermined, naturally unfolding plan of growth. Gesell created a spiral-like pattern...
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...P1 Psychology is the study of behaviour and mental processes. The aim of psychology is to understand the way the human brain processes information in different environments. Psychology has different approaches and perspectives which are particularly used to view a human’s way of thinking, feeling and the ways in which they behave. There are five different perspectives that have been observed and studied by well-known psychologist these are; the cognitive approach, behaviourist approach, biological approach, humanistic approach and the psychological approach. The cognitive approach is the way the human mind retains, stores and processes information to solve a problem they are faced with in their day to day lives. The different processes that need to happen in order to solve a problem are; Perception, attention, memory and problem solving. Perception is the way we view a situation by using and having our own opinions. By having gained an opinion into the situation at hand, this will allow your brain to move into the next cognitive stage which is attention. Attention is the brain understanding the information that has been given by the environment and gaining a further insight into becoming an outcome of the situation, but before that you will need your brain to tap into the long term memory stores, which then leads into the third stage of the cognitive approach theory. The memory stage compares the current information given by the environment to the old information that’s...
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...Unit 8 journal I have always admired charismatic leaders; leaders that have some sort of attraction that people follow, feel inspired, follow their leader. I believe Barack Obama, Pope Francis, Gandhi, Martin Luther King, Steve Jobs, Angela Merkel, and Bill Clinton are charismatic leaders. Charismatic leaders make the world look safer, they restore confidence, and they have a vision and determination. Moreover, in the workplace, a charismatic leader makes the employees feel important and necessary for the firm’s objectives and goals. In this course, I wanted to strengthen the charismatic leadership trait. I see this as an essential tool to succeed in my professional and personal life. Throughout this course, I have learned that charismatic...
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...This report will explain the functions of such as the Central processing unit (CPU), random access memory (RAM) and the graphics processing unit (GPU). Task 1 CPU is the part of the computer which performs all of the calculations and logic; it also controls data flow and other parts of the system. The CPU is made of silicon transistors which turn on and off to represent 1’s and 0’s. The CPU has a core clock this tells the processor how many times a second to turn off and on each transistor, for example a core clock of 3.6GHz tells the processor to cycle 3.6 billion times a second this allows the computer to perform computations extremely quick. The motherboard is the component which connects all of the other components together it also has basic chips on it such as the BIOS (Basic input output system) chip this provides basic functionality to the components and tells the PC what to do when the power is pressed. The motherboard also provides power surge protection to the components along with chipsets and various other micro-controllers. Power supply is the component which converts the AC from the wall to DC which can be used in the computer. The power supply also provides some surge protection and has redundant capacitors if the power is cut so volatile memory can be emptied into non-volatile storage such...
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...The Health and Safety at Work Act of 1974 requires all employees to feel and be safe in the workplace. To do this employers provide suitable PPE to the employees depending on what job they are doing to help maintain their safety in order to comply with the Health and Safety Act. For instance if a worker in the Volkswagen manufacturing business were to be in one of the factories filled with machines, heavy tools and car parts he/she will need PPE such as steel capped boots in case something heavy dropped onto his/her foot or goggles in case a piece of shrapnel were to fly out from one of the drilling machines. By supplying the required PPE for the worker the Volkswagen has reduced the risk of one of their workers being injured and are also obeyed the law in the way that they have done everything in their power to ensure the safety of their workers while they are proceeding with their task and are unable to do any more. This legislation places the responsibility of the wellbeing of all a workplace’s employees under the employers. For workers, while being under the law, is also responsible for those around him/her therefore that worker is obliged to report anything that will put anyone else at risk otherwise that worker is breaking the law and also by not abiding by the law he/she is putting every one at a greater risk of injury including him/herself. For instance if Mr Smith was working at one of Bentley’s car factories and saw that one of the machines wasn’t working properly, Mr...
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...P1: Behaviourist Approach. An introduction into this perspective is that it studies how conditioning, reinforcement and social learning influence behaviour. It does this through laboratory experiments and observations. In witch they use animals and humans. It is a scientific approach to measure behaviour and investigate how behaviour is learned. They argue that the environment shapes behaviour. Also argued that genetics and cognition are deemed as unimportant in determining behaviours. There are three main theories to this perspective which are: Classical conditioning Operant conditioning Social learning. Classical conditioning: Ivan Pavlov (1849-1936) was working with dogs to investigate their digestive systems; he noticed that one dog began to salivate when Pavlov assistant entered the room with food. Pavlov thought the dog had learned to associate the assistant with food. This meaning food automatically lead to response of salivation, this is called an unconditioned response. The food was the unconditioned stimulus. As the production of saliva was automatic and not learnt. With this, an unconditioned stimulus leads to an unconditioned response. Pavlov then introduced a bell at feeding time, the bell was a conditioned response as the dog then produced saliva on the bell ringing as the dog associated the bell with feeding time. This happened over several trails and then the dog learned this. Eventually it began to salivate when only the bell was rung and no food was...
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...File C5-207 July 2007 www.extension.iastate.edu/agdm Elasticity of Demand E lasticity of demand is an important variation on the concept of demand. Demand can be classified as elastic, inelastic or unitary. An elastic demand is one in which the change in quantity demanded due to a change in price is large. An inelastic demand is one in which the change in quantity demanded due to a change in price is small. The formula for computing elasticity of demand is: (Q1 – Q2) / (Q1 + Q2) (P1 – P2) / (P1 + P2) If the formula creates a number greater than 1, the demand is elastic. In other words, quantity changes faster than price. If the number is less than 1, demand is inelastic. In other words, quantity changes slower than price. If the number is equal to 1, elasticity of demand is unitary. In other words, quantity changes at the same rate as price. Close substitutes for a product affect the elasticity of demand. It another product can easily be substituted for your product, consumers will quickly switch to the other product if the price of your product rises or the price of the other product declines. For example, beef, pork and poultry are all meat products. The declining price of poultry in recent years has caused the consumption of poultry to increase, at the expense of beef and pork. So products with close substitutes tend to have elastic demand. Figure 1. Elastic demand Elastic Demand Elasticity of demand is illustrated in Figure 1. Note that a change in price...
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...File C5-207 July 2007 www.extension.iastate.edu/agdm Elasticity of Demand E lasticity of demand is an important variation on the concept of demand. Demand can be classified as elastic, inelastic or unitary. An elastic demand is one in which the change in quantity demanded due to a change in price is large. An inelastic demand is one in which the change in quantity demanded due to a change in price is small. The formula for computing elasticity of demand is: (Q1 – Q2) / (Q1 + Q2) (P1 – P2) / (P1 + P2) If the formula creates a number greater than 1, the demand is elastic. In other words, quantity changes faster than price. If the number is less than 1, demand is inelastic. In other words, quantity changes slower than price. If the number is equal to 1, elasticity of demand is unitary. In other words, quantity changes at the same rate as price. Close substitutes for a product affect the elasticity of demand. It another product can easily be substituted for your product, consumers will quickly switch to the other product if the price of your product rises or the price of the other product declines. For example, beef, pork and poultry are all meat products. The declining price of poultry in recent years has caused the consumption of poultry to increase, at the expense of beef and pork. So products with close substitutes tend to have elastic demand. Figure 1. Elastic demand Elastic Demand Elasticity of demand is illustrated in Figure 1. Note that a change in price...
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...computer It estimates that it will take competitors at least two yeas to produce equivalent products. The demand function for the computer has been estimated to be P = 2,500 - .0005Q The marginal (and average variable) cost of producing the computer is $900. a. Compute the profit-maximizing price and output levels assuming Pear acts as a monopolist for its product. Answer: The monopolist would equate marginal revenue (MR) with marginal cost (MC) Total revenue (TR) = P*Q = 2500Q-Q^2 MR = dTR/dQ = 2500-2Q We have MC = 900 So MR= MC implies 2500-2Q= 900, implies monopoly output Q* = 800 (in units of 100) And monopoly price P = 2500-0.0005*800 = 2499.6 b. Determine the total contribution to profits and fixed costs from the solution generated in part (a). Answer: Total profit = P*Q-MC*Q = 800*2499.6 900*800 = $ 1279680 (in units of 100) Pear Computer is considering an alternative pricing strategy of sliding down the demand curve. It plans to set the following schedule of prices over the coming two ------------------------------------------------- years. Branding Iron Products, a specialty steel fabricator, operates a plant in the town of West Star, Texas. The town has grown rapidly because of recent discoveries of oil and gas in the area town. Many of the new residents have expressed concerns at the amount of pollution (primarily particulate matter in the air and waste water in the town's rivers) emitted by Branding Iron. Three proposals...
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...Chapter 6: CPU Scheduling • • • Basic Concepts Scheduling Criteria Scheduling Algorithms Operating System Concepts 6.1 Basic Concepts • Maximum CPU utilization obtained with multiprogramming. • CPU–I/O Burst Cycle – Process execution consists of a cycle of CPU execution and I/O wait. – Example: Alternating Sequence of CPU And I/O Bursts – In an I/O – bound program would have many very short CPU bursts. – In a CPU – bound program would have a few very long CPU bursts. Operating System Concepts 6.2 1 CPU Scheduler • The CPU scheduler (short-term scheduler) selects from among the processes in memory that are ready to execute, and allocates the CPU to one of them. • A ready queue may be implemented as a FIFO queue, priority queue, a tree, or an unordered linked list. • CPU scheduling decisions may take place when a process: 1. Switches from running to waiting state (ex., I/O request). 2. Switches from running to ready state (ex., Interrupts occur). 3. Switches from waiting to ready state (ex., Completion of I/O). 4. Terminates. • Scheduling under 1 and 4 is nonpreemptive; otherwise is called preemptive. • Under nonpreemptive scheduling, once the CPU has been allocated to a process, the process keeps the CPU until it releases the CPU either by terminating or by switching to the waiting state. Operating System Concepts 6.3 Dispatcher • Dispatcher module gives control of the CPU to the process selected by the short-term scheduler;...
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...CPU SCHEDULINGCPU scheduling in UNIX is designed to benefit interactive processes. Processes are given small CPU time slices by a priority algorithm that reduces to round-robin scheduling for CPU-bound jobs.The scheduler on UNIX system belongs to the general class of operating system schedulers known as round robin with multilevel feedback which means that the kernel allocates the CPU time to a process for small time slice, preempts a process that exceeds its time slice and feed it back into one of several priority queues. A process may need much iteration through the "feedback loop" before it finishes. When kernel does a context switch and restores the context of a process. The process resumes execution from the point where it had been suspended.Each process table entry contains a priority field. There is a process table for each process which contains a priority field for process scheduling. The priority of a process is lower if they have recently used the CPU and vice versa.The more CPU time a process accumulates, the lower (more positive) its priority becomes, and vice versa, so there is negative feedback in CPU scheduling and it is difficult for a single process to take all the CPU time. Process aging is employed to prevent starvation.Older UNIX systems used a 1-second quantum for the round- robin scheduling. 4.33SD reschedules processes every 0.1 second and recomputed priorities every second. The round-robin scheduling is accomplished by the -time-out mechanism, which tells...
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...indifference curve and the budget line; (ii) a kink in an indifference curve; (iii) a “corner” where the consumer specializes in consuming just one good. Here is how you find a point of tangency if we are told the consumer’s utility function, the prices of both goods, and the consumer’s income. The budget line and an indifference curve are tangent at a point (x1 , x2 ) if they have the same slope at that point. Now the slope of an indifference curve at (x1 , x2 ) is the ratio −M U1 (x1 , x2 )/M U2 (x1 , x2 ). (This slope is also known as the marginal rate of substitution.) The slope of the budget line is −p1 /p2 . Therefore an indifference curve is tangent to the budget line at the point (x1 , x2 ) when M U1 (x1 , x2 )/M U2 (x1 , x2 ) = p1 /p2 . This gives us one equation in the two unknowns, x1 and x2 . If we hope to solve for the x’s, we need another equation. That other equation is the budget equation p1 x1 + p2 x2 = m. With these two equations you can solve for (x1 , x2 ).∗ Example: A consumer has the utility...
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...Case Studies 1. SOLUTION TO STARTING RIGHT CASE, CH. 3, PAGE 110 This is a decision-making-under-uncertainty case. There are two events: a favorable market (event 1) and an unfavorable market (event 2). There are four alternatives, which include do nothing (alternative 1), invest in corporate bonds (alternative 2), invest in preferred stock (alternative 3), and invest in common stock (alternative 4). The decision table is presented. Note that for alternative 2, the return in a good market is $30,000 (1 + 0.13)5 = $55,273. The return in a good market is $120,000, (4 x $30,000) for alternative 3, and $240,000, (8 x $30,000) for alternative 4. Payoff table Laplace Hurwicz Event 1 Event 2 Average Value Minimu m Maximu m Value Alternativ e1 0 0 0.0 0 0 0.00 Alternativ e2 55,273 – 10,00 0 22,636.5 – 10,000 55,273 – 2,819.9 7 Alternativ e3 120,00 0 – 15,00 0 52,500.0 – 15,000 120,000 –150.00 Alternativ e4 240,00 0 – 30,00 0 105,000. 0 – 30,000 240,000 –300.00 Regret table Maximum Alternative Event 1 Event 2 Regret Alternative 1 240,000 0 240,000 Alternative 2 184,727 10,000 184,727 Alternative 3 120,000 15,000 120,000 Alternative 4 0 30,000 30,000 a. Sue Pansky is a risk avoider and should use the maximin decision approach. She should do nothing and not make an investment in Starting...
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