Analyze the current and future situation with respect to the organization’s target market using the 5W Model for Customer Analysis.
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Analyze the current and future situation with respect to the organization’s target market using the 5W Model for Customer Analysis.
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- Scenario 3 Ben Gibson, the purchasing manager at Coastal Products, was reviewing purchasing expenditures for packaging materials with Jeff Joyner. Ben was particularly disturbed about the amount spent on corrugated boxes purchased from Southeastern Corrugated. Ben said, I dont like the salesman from that company. He comes around here acting like he owns the place. He loves to tell us about his fancy car, house, and vacations. It seems to me he must be making too much money off of us! Jeff responded that he heard Southeastern Corrugated was going to ask for a price increase to cover the rising costs of raw material paper stock. Jeff further stated that Southeastern would probably ask for more than what was justified simply from rising paper stock costs. After the meeting, Ben decided he had heard enough. After all, he prided himself on being a results-oriented manager. There was no way he was going to allow that salesman to keep taking advantage of Coastal Products. Ben called Jeff and told him it was time to rebid the corrugated contract before Southeastern came in with a price increase request. Who did Jeff know that might be interested in the business? Jeff replied he had several companies in mind to include in the bidding process. These companies would surely come in at a lower price, partly because they used lower-grade boxes that would probably work well enough in Coastal Products process. Jeff also explained that these suppliers were not serious contenders for the business. Their purpose was to create competition with the bids. Ben told Jeff to make sure that Southeastern was well aware that these new suppliers were bidding on the contract. He also said to make sure the suppliers knew that price was going to be the determining factor in this quote, because he considered corrugated boxes to be a standard industry item. As the Marketing Manager for Southeastern Corrugated, what would you do upon receiving the request for quotation from Coastal Products?. In historical analogy, the product life cycle of an existing, similar product is used as the basis in forecasting the demand for a new product. True FalseMarkman Industries employs a standard cost system. It has established the following standards for the prime costs of its air rifle product line: Standard quantity Standard price Standard cost Direct materials $21.80/kg $ 87.20 4 kg 0.5 direct labour hours (DLH) Direct labour $20.00/DLH 4.00 $ 91.20 During November, Markman purchased 13,000 kg of direct materials at a total cost of $295,100. The total factory wages for November were $38,000, 90% of which were for direct labour. Markman manufactured 3,500 air rifles during November, using 13,500 kg of direct materials and 1,900 direct labour hours. Required: a) What was the direct labour efficiency variance for November? b) Over the past year, Markman's management team attempted to reduce the number of customer complaints relating to the product by sourcing higher-quality direct materials from a different supplier. Explain the effect this has had on the direct material variances. Do you believe this has also impacted the direct labour…
- ijcsnciusb During the beginning of the 21st century, the growth in computer sales declined for the first time in almost two decades. As a result, PC makers dramatically reduced their orders of computer chips from Intel and other vendors. Explain why computer manufacturers such as Dell are likely to write relatively short contracts for computer chips.The director of revenue integrity at Marceline University Health System has examined several benchmarks for denial key performance indicators (KPIs). The director discovers the organization deviates significantly from the overall initial denials rate, which has recently reached 9% of Health System's gross revenue. The identified best practice KPI for initial denials is < 4% of gross revenues. a) Why is it important for the organization to achieve that particular KPI metric? b) What areas of the revenue cycle are affected by deviation from the metric, and what are the impacts on those areas? c) What steps would you take to improve processes and achieve the KPI metric? d) Identify the areas that would need representation to work on the process improvement plan e) Once the improvement efforts resulted in achieving the metric, how would you ensure sustained results?Need prioritization matrix base on this fishbone:
- Which is not one of the questions to address in a 5W customer analysis? Group of answer choices Who are our customers? What is our company's operating philosophy? When do customers buy our products? Why do potential customers not purchase our products? What is most true about data versus information/ Group of answer choices Data is not needed in marketing. There is a big shortage of data since it is difficult to collect and store. Data is not useful until it is put in the form of information that can help make better decisions. Information is helpful even if it comes from inaccurate data.Utah Utensil has developed a new kitchen utensil. The firm has conducted significant market research and estimated the following pattern for sales of the new product: Year Expected Volume Expected Price per Unit 1 48,000 units $19 2 48,000 units $20 3 90,000 units $16 4 40,000 units $12 If the firm desires to net $3.50 per unit in profit over the life of the product, and selling and administrative expenses are expected to average $50,000 per year, what is the target cost to produce the new utensil?Describe the process of model identification and system parameter estimation and its significance in real-world applications.
