Using decision tree analysis, determine whether the company should conduct the test market.
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- In 1996, McDonald’s (MD) launched Campaign 55, reducing the prices ofits “flagship” sandwiches with the objective of regaining market share. Beforethe launch, suppose MD’s management envisioned two possible outcomes: astrong customer response or a weak response. Industry experts were notvery optimistic about the campaign. They assessed the probability of a strong response to be .40. MD predicted an expected profit of $50 million if theresponse proved to be strong. If the immediate customer response was weak,management believed that all was not lost. If MD could persuade themajority of its franchisees to back and help fund the campaign, the resultingprofit would be $20 million. However, if the majority rose up against thecampaign, the red ink would fly, and McDonald’s profit would be -$100million. MD considered these two outcomes to be equally likely.a. Given these assessments, construct a decision tree to determine MD’sexpected-profit-maximizing course of action.b. Suppose that MD has…. Canon has sponsored the England Premier (Soccer) League for about 10 years spending millions of dollars each year. When they started the sponsorship, only 15% of the people in the United Kingdom knew Canon. Over the next 10 years or so, the brand recognition rate went up to 85%. At that point, Canon decided to stop sponsoring the League. Why do you think Canon stopped it? (Decision Making)A development corporation purchased land that will be the site of a new luxury condominium complex. Management is considering a six month market research study designed to learn more about potential market acceptance of the condominium project. Management anticipates that, if conducted, the market research study will provide one of the following two results. Favorable report (F): A significant number of the individuals contacted express interest in purchasing a condominium. Unfavorable report (U): Very few of the individuals contacted express interest in purchasing a condominium. After deciding whether to conduct the market research study, they have the following two decision alternatives. d1 = a small complex with 30 condominiums d2 = a medium complex with 60 condominiums Following this, a chance event concerning the demand for the condominiums has two states of nature. s1 = strong demand for the condominiums s2 = weak demand for the condominiums The…
- : How could test marketing be used to help a company that was looking to redesign large network of stores across the country?Consider the following scenario: As the marketing manager at Tesla your main responsibility is to launch the new Tesla x compact SUV model...a completely new electric model item in the Tesla product line. History suggests that having prospects test drive the vehicle enhance the probability of the sale. However, you want to encourage prospects to register and reserve a chance to complete a test drive at the Tesla dealerships. Determine the campaign objectives and aligning KPIs Campaign objective Aligning KPIExplain. how could test marketing be used to help a company that was looking to redesign large network of stores across the country?
- According to an analysis of an Apple market-product grid for its personal computer line, Apple would get the least product synergies from the Multiple Choice least frequently updated products, MacBook Air and Mac Mini. most expensive products, Mac Pro and MacBook Pro. products with the most complimentary market segments, iMac and MacBook Air. most versatile products, Mac Pro and iMac. products with the fewest complimentary market segments, Mac Pro and Mac Mini.The Vice President of sales of International production company is wondering how the recently introduced marketing strategy is not working and the sales of the company is declining day by day. The situation becomes worsen when many competitors also introduced the similar products and its really affecting the sales of the company and the success of the organization was also at risk in the long run. What is construct in a research? Write in your own understanding. What would be the construct of the present business problem given above?and Develop the theoretical Framework of the present business problem from your understanding.Letz Products has two decisions to make, with the second decision dependent on the outcomeof the first. The company intends to build a new plant. Letz has the option of conducting itsown marketing research survey for which the results will either be positive or negative. Theinformation from this survey could help it decide whether to build a large plant, to build a smallplant, or not to build at all. Letz recognizes that although such a survey will not provide it withperfect information, it may be extremely helpful. Using the image explain to your client (Letz) what the above decision tree shows. You arerequired to show all working.
- Exclusive Footwear Ltd experiencing profit declining in recent times... In the light of the above research, suggest a list of variables (e.g. IV, DV, or MV), develop conceptual model, and discuss their nature and potential relation to each other with proper justification. Develop relevant hypothesis for the variables.Jane has shortlisted 4 brands of computers and given them the following ratings on a scale of 1 - 10 with 10 the highest. She assigns 40% importance to memory, 30% to graphics, 20% to software and 10% to price. Predict the computer brand she is most likely to buy. Brand Memory Graphics Software Price A 9 8 6 4 B 8 9 8 3 C 6 8 10 5 D 4 3 7 8105 Which of the following real estate mortgage transactions is subject to the TILA-RESPA Integrated Disclosure rule (TRID)? A) Reverse mortgage B) Home equity line of credit (HELOC) C) A single-family residence loan secured by real property D) Mortgage secured by a mobile home not attached to land