Practical Management Science
6th Edition
ISBN: 9781337406659
Author: WINSTON, Wayne L.
Publisher: Cengage,
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Chapter 8, Problem 35P
Summary Introduction
To design: A product line which would maximize the number of market segments.
Introduction: The variation between the present value of the
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3. The marketing group for a cell phone manufacturer plans to conduct a telephone
survey to determine consumer attitudes toward a new cell phone that is currently
under development. In order to have a sufficient sample size to conduct the analysis,
they need to contact at least 100 young males (under age 40), 150 older males (over
age 40), 120 young females (under age 40), and 200 older females (over age 40). It
costs $1 to make a daytime phone call and $1.50 to make an evening phone call (due to
higher labor costs). This cost is incurred whether or not anyone answers the phone.
The table below shows the likelihood of a given customer type answering each phone
call. Assume the survey is conducted with whoever first answers the phone. Also,
because of limited evening staffing, at most one-third of phone calls placed can be
evening phone calls. How should the marketing group conduct the telephone survey so
as to meet the sample size requirements at the lowest possible cost?
Who Answers?…
In the grocery industry, managers typically need to know how best to use pricing, coupons, and advertising strategies to influence sales. Grocers often study the relationship of sales volume to these strategies by conducting controlled experiments to identify the relationship between them and sales volumes. That is, they implement different combinations of pricing, coupons, and advertising, observe the sales that result, and use analytics to develop a predictive model of sales as a function of these decision strategies.
In a study of the domestic market share of three major automobile manufacturers A, B and C in a certain country, it was found out that of the customers who bought a car manufactured by A, 75% would again buy a car manufactured by A, 15% would buy a car manufactured by B and the rest wouldbuyacarmanufacturedbyC.OfthecustomerswhoboughtacarmanufacturedbyB,90% would again buy a car manufactured by B, 5% would buy a car manufactured by A and the rest would buy a car manufactured by C. Of the customers who bought a car manufactured by C, 85% would again buy a car manufactured by C, 5% would buy a car manufactured by A and the rest would buy a car manufactured by B.
Required
The long run market share of the manufacturers
Chapter 8 Solutions
Practical Management Science
Ch. 8.3 - Prob. 1PCh. 8.3 - Prob. 2PCh. 8.4 - Prob. 3PCh. 8.4 - Prob. 4PCh. 8.4 - Prob. 5PCh. 8.5 - Prob. 6PCh. 8.5 - Prob. 7PCh. 8.5 - In the lawn mower production problem in Example...Ch. 8.6 - Prob. 9PCh. 8.6 - Prob. 10P
Ch. 8.6 - Prob. 11PCh. 8.6 - Prob. 12PCh. 8.7 - Prob. 13PCh. 8.7 - Prob. 14PCh. 8.8 - Prob. 15PCh. 8.8 - Prob. 16PCh. 8.8 - Prob. 17PCh. 8.8 - Prob. 18PCh. 8.8 - Prob. 19PCh. 8 - Prob. 20PCh. 8 - Prob. 21PCh. 8 - Prob. 22PCh. 8 - Prob. 23PCh. 8 - Prob. 24PCh. 8 - Prob. 25PCh. 8 - Prob. 26PCh. 8 - Prob. 27PCh. 8 - Prob. 28PCh. 8 - Prob. 29PCh. 8 - Prob. 30PCh. 8 - Prob. 31PCh. 8 - Prob. 32PCh. 8 - Prob. 33PCh. 8 - Prob. 34PCh. 8 - Prob. 35PCh. 8 - Prob. 36PCh. 8 - Prob. 37PCh. 8 - Prob. 38PCh. 8 - Prob. 39PCh. 8 - Prob. 1CCh. 8 - Prob. 2C
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