COB 300 Presentation Studying Exam Questions With Correct Answers

COB 300 Presentation Studying Exam Questions With Correct Answers Marketing: total market and target market numbers - answer57 million and 2.5 million Marketing: Targeted Demographics, etc - answermiddle class, 20-50 y/o, hygiene conscious Marketing: Why are we selling to CVS, RiteAid and Home Goods instead of Walmart and Target? - answerWe would have to sell to them at a lower price, meaning we would not make a profit. Our target market shops more at shops like CVS and Rite aid. More difficult to get into a Walmart and Target as a start up company. Marketing: what are we selling for? - answerretail price of $14.99, and wholesale price of 10.99 Marketing: Why are we different from our competitors? - answerwe offer a low cost multifunctional sponge wringer and holder. Our competitors sell a single function holder wringer at either a low or high price. Sponge bath is only real competitor because they are multifunctional but sold at a high price. Marketing: What is our marketing objective? - answermarket share because our market is mature with a multitude of other competitors, so growing our market share will be vital Marketing: What is our basis of pricing? - answercompetitive based pricing because our prices are based on what our competitors are charging for their products. Our fixed and variable costs are a factor too. Price determined by comparing our products to other sponge holders like OXO, SunnyPoint, etc Marketing: What is our marketing strategy? - answerNew product pricing to enter the market at a lower price to try to steal market share from competitors Marketing: What is our market maturity? - answerThe Kitchen and Sponge Accessories market is currently mature with many competitors holding a stake but not many entering the market. Although size of market has increased since Covid-19 Marketing - Type of market - answeroperating in an almost purely competitive market , means that there's not many differentiation of products and therefore no one has a significant influence on the price. Mostly average sized companies, not one big giant company. Marketing - What is a mature market?? - answermany competitors so the growth is neither going up or down, stays at a equilibrium EXAM STUDY MATERIALS July 30, 2024 11:26 AM Management: Top Level Manager - answerGeneral Manager Management: 5 main departments - answer1. Sales and marketing Manager Oversees Sales rep, Marketing research analyst, customer service rep Total of 6 employees 2. Operations manager Oversees Production line associates, warehouse clerk, warehouse associates Total of 12 employees 3. Accounting 4. IT specialist 5. Human Resource Specialist Management: addition of employee year 4 - answer- 2 Product line associates - 1 Warehouse associate - Reason: with the purchase of machinery in year 3 we needed more production line workers and another warehouse associate to manage the additional employees. Management: Motivation Nonmonetary - answer- ADDITIONAL 2 PAID DAYS OFF EVERY 3 YEARS - ANY UNUSED PTO ROLLS OVER TO NEXT CALENDAR YEAR (UP TO 5) - MONTHLY INTERVIEWS TO CAPTURE EMPLOYEES OPINION AND MAKE EMPLOYEES FEEL HEARD - AID EMPLOYEES AND HELP THEM EARN CERTIFICATIONS TO PROGRESS WITHIN COMPANY Management: Motivation Monetary - answer- 23 PTO DAYS - 10 PAID HOLIDAYS DAYS - END OF YEAR BONUS - MONTHLY RAFFLE OF 100 DOLLARS Management: Year 1 total salary and wages (24 employees) - answer-1189k Finance: Debt Financing - answer- Bank loan is 5 years at 8% - Convertible debt happens after 7 years (conversion is offered at 75% of market price) (If conversion doesn't happen, principal and interest will be paid when amount is due) (5% interest) Marketing: Microeconomic Environment - answerSuppliers have relatively fast lead times and sell in bulk but aluminum cost can vary