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COB 300 Presentation Exam with correct Answers
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COB 300 Presentation Exam with correct Answers
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COB 300 Presentation Exam with correctAnswers
How much money are we seeking and why? - Answers -we are seeking 1,100,000
dollars- 500,000 bank loan which will be paid off in year 3 and 100,000 from each of us
to get materials to start our business
How much are we willing to sell and how many times a year will product be bought -
Answers -6,757 cushion and fabric slips and 20,477 cloth covers - found these numbers
by multiplying our total market potential by the market share
-once a year for fabric slips, and 1 every 3 years for cushion
Why are the 2 sizes the same price? - Answers -because it isn't costing us an extreme
amount extra so for our customer's benefit, we kept the prices the same
What are the target markets and why did you choose them - Answers -disabled active
outdoorsy - because they will be in their chair more and like to be outside
comfy lifestyles- they are health conscious and want to live a comfortable life
Veterans- they have done so much for us so it's a way to give back to them and they
are a great media outlet
Location, why we chose it and why leasing - Answers -Waco, Texas- cheap land and
labor cost - lease because it is expensive to buy a warehouse, so we are going to start
off by leasing. We also may choose to move closer to certain markets along the road,
so leasing gives us the flexibility to move if we need to.
Outsourced Functions why we chose them - Answers -Fabric in bulk from Oumei Textile
(China) - we chose the fabrics from the places because we were able to custom cut and
got a great deal!
Velcro from Levitt Co.- we compared Levitt to other places and levitt had the best price
and had more length
Cushions from Foam Factory- they could cut to our dimensions and have free shipping
Sewing String from Thread Art- bulk
, Outsourcing allows us to use a smaller warehouse and save money on cutting
machinery, which would cost $1,200.
8 employees - Answers -CEO, 2 Customer service staff, 4 op staff, 2 marketing staff
Why do you add a 4th operations staff in year 3 - Answers -because of increased
demand, we need a higher capacity, and adding another person and a machine makes
that increase possible
Where did we get actual compensation for employee cost? - Answers -you take the
amount they get paid and multiply it by number of workers
how did you get operation staff price? - Answers -you take the hourly pay of 9.50 and
times by 8 hours by 250 days which gives you 19,000 dollars and times by number of
employees
Why don't we have health insurance for operations staff? - Answers -because they get
paid hourly
How did we get cost of health insurance? - Answers -Took the hourly cost of health
insurance from the table and calculated yearly cost based on total hours worked for the
year
FICA, FUTA, SUTA - Answers -FICA- 7.65%
FUTA- 6% on first $7,000
SUTA- 2.7% on first $9,000
How did we get our sizes for our target markets - Answers -took final number, multiplied
it by % of ppl with ambulatory disabilities (.066), and then divided it by 4 because ¼ of
the ppl people amb. Dis. Are in wheelchairs
2016 Disability Report is where we got the .066
How did we find total market potential (number of customers) - Answers -we added the
three sizes of the segments to get the total market potential of 819,074 - to find the
other years we multiplied the previous year's total market potential by 1 plus the growth
projection
How did we find the growth projection? - Answers -We used page ten from the
Government Census website to determine the original growth projections for our three
target markets. The percent came from the middle section starting from year 2020
(Current, 1996). We multiplied the amount of people in the segment by their respective
percentage, and then divided that number by the total amount of people we are
targeting from 2018.
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