Answer: C 2) According to Internet Retailer (2009), approximately ________ percent of adult U.S. Internet users shop online or research offline sales online. A) 25 B) 60 C) 65 D) 85 Answer: B Diff: 2 Page Ref: 102 AACSB: Use of information technology 3) Each of the following describes retailing except A) a retailer is a sales intermediary. B) many manufacturers sell directly to consumers and through wholesalers and retailers. C) e-tailing makes it easier for a manufacturer to sell directly to customers by cutting out the intermediary. D) companies that produce a large number of products, such as Procter & Gamble, do not need retailers for efficient distribution.
1. What are the key decisions that Andrew Mason has made during Groupon’s brief history? How have these decisions influenced Groupon’s evolution as an Internet-based business? Mason made many decisions during Groupon’s brief history first, having offers expire after just a few hours and, second, cancelling them if they do not attract a minimum number of buyers (Nelson & Quick, 2013). The literature states, a certain number of people need to buy into any given deal before it kicks in, or ‘tips’ in Groupon parlance; once the deal tips—for example, 200 people have purchased a $40 coupon for an $80 massage—the merchant and Groupon split the revenue roughly 50/50, and a group of customers has an unbeatable bargain (Nelson & Quick, 2013).
Sun, Yue Oct. 20th 2014 12th Woman Store Data Main Body After launched a promotion as sending e-coupons to customers of a rival chain, 12th Woman Enterprise collected data for 100 in-store credit-card purchases during one day in the promotion period. Based on the available data set, the statistics show some traits of the customers of 12th Woman Enterprise. According to the data, it was about 70 percent of customers were promotional customers who used e-coupons to make purchases, while only 30 percent of the customers were regular (Table 1). From those 100 customers, 93 percent of them are female while only 7 percent are male; and most of the customers, like 84 percent, are married (Table 2 and Table 3). When grouping the customers by age, it shows that around 80 percent are between thirty to sixty years old, with the age “40 to 50” and “ 30 to 40” are the top two group both having a large percentage around 30% (Table 4).
1. Question: (TCO4) In a merchandising business, gross profit is equal to sales revenue minus: Your Answer: Instructor Explanation: Merchandising companies are those that buy products and resell them to the end consumer, so the cost of the product sold is usually their largest cost. Their income statement should start with revenues minus cost of goods sold equals gross profit. Points Received: 5 of 5 Comments: 2. Question: (TCO4) BMX Co. sells item XJ15 for $1,000 per unit, and has a cost of goods sold percentage of 80%.
For instance, according to the survey, 39% of respondents would be willing to pay from 11$ to 15$ per person, for snacks, arcade games and souvenirs, while only 8% said they would not spend anything (Cespedes, Laura, & Lovelock, 2009). Therefore, the management team at Nor’easters should seriously consider the possibility that sodas, beer, hot dogs, caps, arcade games, as well as team yearbooks, could be a significant revenue stream, considering the fact that another director pointed out that he makes more than half of his revenues from such diverse offerings (Cespedes, Laura, & Lovelock,
The Nor’easters must bring in enough revenue in its first year to break even on all operating expenses. The total operating expenses are $1,961,379 which will be partially covered by local financial support from the Parent club, local restaurants, and hotels. The team must bring in about $1 million in ticket sales and concessions to make up the remainder. Larry Buckingham is the marketing director who is tasked with setting the prices in order to at least break even. In the following, the case I will be analyzing and making pricing recommendations to achieve a minimum of $1 million in revenues.
These workers are hired only as needed and are paid only for the hours they actually work. When bidding on cocktail parties, Esparza adds a 15% markup to yield a price of about 31.00 per guest. She is confident about her estimates of the costs of food and beverages and labor but is not as comfortable with the estimate of overhead cost. The 13.98 overhead cost per labor–hour was determined by dividing total overhead expenses for the last 12 months by total labor–hours for the same period. Monthly data concerning overhead costs and labor–hours follow: Month Labor Overhead Hours Expense January 2,500 55,000 February 2,800 59,000 March 3000 60,000 April 4200 64,000 May 4500 67,000 June 5500 71,000 July 6500 74,000 August 7500 77,000 September 7000 75,000 October 4500 68,000 November 3100 62,000 December 6500 73,000 Total 57,600
Executive Summary Cottrill Inc. had a 1 week trial with Saxton’s pagers but had a major technical issue with them near the end, which has so far been resolved. Whether Saxton’s pagers will have additional problems is unknown. Cottrill Inc. equipment failures can cost the company around $200,000 per hour and on average have problems once a week. Judy want to make the right decision in regards their pager supplier, which could result in a great annual saving for Cottrill Inc., or possible problems which could create a massive loss. Through analysis, it might be safer to stay with Tallant or prolonging a trial period with Saxton to ensure stability.
Arkes and Blumer (1985) conducted an experiment in which participants were presented with a scenario in which they first had bought a ticket for a ski trip to Michigan for $100, and weeks later they had bought another ticket for a ski trip to Wisconsin for $50. Participants were told to assume that they would enjoy the Wisconsin ski trip more than the Michigan ski trip. Once the trips were bought, they noticed that both trips took place on the same weekend. As the tickets were non refundable, each participant had to indicate which trip they would choose to go on. Considering that traditional economic theory posits that decisions should be based on costs and benefits that are expected to result from the choice of each option, it would be assumed that everybody should have chosen the most enjoyable alternative, i.e.
A company sells $10,000 of green widgets to a customer in March, which pays the invoice in April. Under the cash basis, the seller recognizes the sale in April, when the cash is received. Under the accrual basis, the seller recognizes the sale in March, when it issues the invoice. Expense recognition. A company buys $500 of office supplies in May, which it pays for in June.