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kipiarov [429]
2 years ago
11

You have full responsibility for the success of the test market at your store. Write a memo outlining the preparations that you

will have to make at your store before the start of the test marketing. Your memo should focus on at least four of the following issues: staffing, training, equipment, supplies, store layout, quality, customer service, etc.
Business
1 answer:
I am Lyosha [343]2 years ago
4 0

Answer:

Consider the following answer

Explanation:

A.

From - John Tait - Store Manager

To - Starbucks Operations Department

Date - 20.11.2019

Subject - Test Marketing Requirements for Sensation Coffee

As my store is selected to conduct the test marketing of the new Sensation Coffee, there are certain requirements that would be necessary for the successful conduct of the test marketing.

The first requirement would be related to adequate staffing. My store is located in a prominent location and has a large footfall of customers. There are instances when the current staff strength falls short of servicing all the customers within a reasonable time and even I had to step in on the counter and serve as one of the workforce members.With the new product added to the menu and the responsibility of test marketing, we would require at least two extra staff members for ensuring the success of the test marketing launch. My requirement of having two Staff members is to cater not just to the queries related to the new product but also provide suggestions to the customers to try the new product. The target audience of the new product being the young customers it is necessary for me to have people from the same age group as staff members and also those who are enthusiastic and energetic towards this initiative.

The next requirement would be training. I would prefer that at least 50% of my workforce is trained in the making of the new product. The training part is very essential as the new product involves certain new ingredients and the mechanism of making this new product is different from the other products currently on the menu. The amount of precision required for making this new product is essential as any mistakes would destroy the taste of this product and will not be a fair parameter for the conduct of the test marketing initiative. The other aspect of training is that it will give confidence to the workforce on the making of this product and will ensure better service to the client. The lack of training will not motivate the workforce to promote this product among the customers visiting the store. In my view the training will ensure that the product is being considered at the time of manufacturing is provided to the client and a fair review is captured.

The next important aspect that needs to be considered is the equipment. As the new product requires special equipment it is necessary for the installation of such equipment in the store. The other aspect required would be that proper training is provided on the handling and maintenance of such equipment. We would also require a mechanism for servicing of the equipment in case of any downtime. The equipment would also require a proper space and my request would be that the installation team should visit the store and finalize the place where the equipment can be installed and effectively operated. It is also necessary that a proper manual is set up at the store so that the equipment can be effectively managed.

The manufacturing of a new product requires certain old and new ingredients. While managing the store there are certain estimations on which the inventory at the store is handled. With the new product in place, the inventory will require a reestimation and in all probability, there would be a requirement for an increase in supplies. My request would be that it such a case an increase in inventory requirement is considered and proper information about the new ingredients and their handling is also supplied so that the workforce can effectively manage the inventory levels and there are no slippages and spoilage.

With the above requirement, we would like to undergo a standard test marketing technique and provide feedback on the new product as we perceive and collect from our customers.

Copy to - The Head of Marketing Operation Starbucks.  

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jeka94

Answer:

1. Discount

2. $449,298.47

3. $369,298.47 gain

4. land reduces by $80,000, investment increases by $449,298.47, reserves increases by $369,298.47

Explanation:

Question 1

Using the formula below

Price=\frac{I_{1}}{1+r} +\frac{I_{2}+F}{(1+r)^{2}}

where

I = interest rate, which is 6% of 500,000 = 30,000

F = Face value, 500,000

r = borrowing cost = 12%

Therefore, the price of the note at the time it was used for payment was

Price=\frac{30,000}{1.12} +\frac{30,000+500,000}{(1.12)^{2}}

= $449,298.47.

As the price is lower than the face value of the note, the note was issued at a discount.

Question 2

The fair market value of the note is $449,298.47, the compute price in question 1.

Question 3

The gain/loss on the sale of the land

= sale price - purchase price

= $449,298.47 - 80,000

= $369,298.47.

Question 4

The transaction would affect Crabb & Co's balance sheet as follows.

<em>Asset side:</em>

land reduces by $80,000

investment increases by $449,298.47

<em>Equity & liabilities side:</em>

reserves increases by $369,298.47

3 0
2 years ago
Each month, Jackie budgets $1640 for fixed expenses, $1320 for living expenses, and $260 for annual expenses. Her annual net inc
dsp73

Answer:

d. it is balanced.

Explanation:

A budget is defined as the amount of money that is set aside for some future purpose. It is a way to effectively manage funds and avoids wastage. When one is going out of their budget they know is is an unallocated cost and this will lead to unbalanced funding for needs.

In this scenario the total budget of Jackie is

Monthly budget= fixed expenses+ living expenses+ annual expense

Monthly budget = 1,640+ 1,320+ 260

Monthly budget= $3,220

Yearly budget= monthly budget* 12

Yearly budget= 3,220* 12= $38,640

This is a perfect balance with her annual net income.

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2 years ago
Suppose that in a month the price of movie rentals decreases from​ $3.25 to​ $3. At the same​ time, the quantity of movie rental
Sergeeva-Olga [200]

Answer:

The correct answer is option a.

Explanation:

The initial price of movie rentals is $3.25.

The initial quantity is 100.

The price falls to $3.

This causes demand to rise to 120.

The price elasticity of demand a ratio of change in quantity demanded to change in price level.

The elasticity is calculated at -2.25, through the process given in images.

The price elasticity of demand here is greater than 1 which means it is elastic.

So, option a is the correct answer.

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a carpet company paid $2496 for an imported rug. Their operating expenses are 35% of cost. if they sell the rug at a clearance p
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Answer: A) Fair value of the asset(s) given up.

Explanation:

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1. At the fair value of the asset transferred in exchange for it with a gain or loss on the exchange being recorded.

2. At the fair value of the asset received, if the fair value of this asset is more evident than the fair value of the asset transferred in exchange for it.

3. At the recorded amount of the surrendered asset, if no fair values are determinable or the transaction has no commercial substance.

If you need any clarification do comment.

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2 years ago
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