Please answer the multiple choice questions : The size of the US market for pain
ID: 419616 • Letter: P
Question
Please answer the multiple choice questions :
The size of the US market for pain relievers has remained almost same for a long time. In this market, Tylenol has the largest market share. Using the notations of the Boston Consulting Group (BCG), Tylenol is:
A.A Star
B.A Dog
C.A Question Mark/Problem Child
D. A Cash Cow
E. None of a,b,c or d
Suppose a grocery store manager uses the regression approach to forecast Coke’s sales. He sets ‘Coke sale’ as the dependent variable, and ‘Coke Price’ and ‘Pepsi Price’ as the independent variables as follows:
Coke Sales =
He has the weekly data on Coke sales, Coke Price and Pepsi Price of last year, and the regression result proves that this linear model fits the data very well. The results are as follows:
Suppose the store manager decides to increase Coke’s price from $2 per unit to $2.5 per unit, and reduces Pepsi price from $2 to $1.8. The overall effect on Coke would be that Coke sales would _________
A.increase 126 units
B. decrease 126 units
C. decrease 117 units
D. increase 117 units
E. decrease 9 units.
The _________ is composed of "all those individuals and groups who participate in the purchasing decision-making process, who share some common goals and the risks arising from the decisions."
A. buying center
B. initiating team
C.purchasing division
D.engineering division
E. influencing center
The Gap Corporation traditionally makes its sales forecasts by soliciting a series of "rounds" of numerical forecasts from a pre-selected number of experts. The process continues until the experts agree on a single forecast amount. The firm is employing the:
A.build up method.
B.time series approach.
C.Delphi method.
D.test market method
E. Regression method
Which of the following scenarios is an example of ‘Risk Aversion’?
A.You and a friend go to your favorite Chinese restaurant after a long hiatus. You remember the restaurant for its delicate and complex dumplings and fiery hot dishes. Although expensive by Asian restaurant standards, you think it is a good value. You are anxious to see your friend’s reaction because, although he has never visited this restaurant, his tastes in Asian food are almost identical to yours. You are surprised to learn that the restaurant has a new menu with entrees cheaper than before, but with some decrease in quality. When comparing your reaction to the meal, you are startled to find that, while you were disappointed, your friend was delighted to find such a reasonably priced, yet high quality restaurant.
B.You go to Wal-Mart for grocery shopping and decide to buy a bottle of orange juice. You notice that your preferred brand, Tropicana, increases its price from $2.00 per bottle to $2.25 from last time you purchased. Although the price of Tropicana is still lower than that of its competitor, Minute Maid, which currently is $2.50 a bottle, you still feel unhappy because the price is higher than what you paid last time.
C.Employee Teresa Walker is going to receive 10,000 bonuses this year. The manager could have several different options to give her the bonus. He could (1) give her the lump sum value at the beginning of the year; (2) give her 2,000 in spring, 3,000 in summer, and 5,000 in fall; (3) give her 5,000 in spring, 3,000 in summer, and 2,000 in fall. Although the total amount is the same, Teresa won’t feel happy of Approach (3) because she may feel her performance gets worse.
D.We have done the following exercise in class. Given the following two options: Option 1: You are going to get $50 for sure; or Option 2: You will have 50% probability to get $100, and 50% probability to get nothing. Though the expected values of these two options are the same, you prefer Option 1.
Comparing to United States, Which of the following power distance/individualism descriptions BEST describes Japan?
A.high power distance/collectivist
B.low power distance/individualist
C.high power distance/individualist
D.low power distance/collectivist
A.A Star
B.A Dog
C.A Question Mark/Problem Child
D. A Cash Cow
E. None of a,b,c or d
Explanation / Answer
the answer is A cash cow
Reason- A cash cow is defined as an investment which remains same for long period of time.
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the answer is buying center
reason- Wind & Webster refers the decision-making unit of a buying organisation the buying centre.
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the answer is Delphi method
reason- in this method a panel of members is decided who all peerforms forecasts then they go through processes, this mehod continues until all participants reach a consensus.
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D.We have done the following exercise in class. Given the following two options: Option 1: You are going to get $50 for sure; or Option 2: You will have 50% probability to get $100, and 50% probability to get nothing. Though the expected values of these two options are the same, you prefer Option 1.
reason - risk aversion is when an investor faces investments with a same return then he take the one which has the less risk.
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answer is B.low power distance/individualist
reason- Woodring explain it due to japans culture of equality by college students , age there is higher individualism and lower power distance score