How you analyze the problem and the way of your thinking

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Reference no: EM131803812

Question 1:

In grocery stores, you usually see that hotdogs come in the package of 10-hotdog-in-a-pack; however, the buns usually come in the package of 8-bun-in-a-pack.

Therefore mathematically, you need to purchase five bags of eight-to-the-pack buns and four 10-to-the-pack hot dogs in order to match the hotdogs and the buns perfectly: 40 buns match 40 hotdogs.

If you were a marketer for hotdogs, would you like to change your packaging strategy? Please provide your reasons . Please indicate which marketing approach or approaches you will use to analyze this question (analytical, behavioral, empirical)?

Please keep in mind that there are no clear-cut right or wrong answers on this problem.

You will be evaluated not based on whether you give "right" or "wrong" answers. Instead, you will be evaluated based on how you arrive at your answer, in another word, how you analyze the problem and the way of your thinking.

Question 2 :

In old days, when people want to listen to their favorite music, they have to pay for it, like buying a CD. Nowadays, people can have access to their favorite music for free, such as watching it on some website such as Youtube. Please think about the consequences of these changes to musicians, and answer the following questions.

1) Do you think this trend is good or bad for musicians who are supposed to profit from their work? Please provide your reasoning.

Hint: you may think about different types of musicians, e.g., very famous musician versus relatively unknown musician, etc.; and whether this trend would impact them in different ways. You are welcome to think about other factors besides the types of musicians.

2) Please come up with some recommendations for musicians so that they can maximize their profit even though people can get their work for free.

3) Which marketing approach or approaches (analytical, behavioral, empirical) do you think are relevant to solve this problem? Please describe your reasoning.

Please keep in mind that there are no clear-cut right or wrong answers on this problem. You will be evaluated not based on whether you give "right" or "wrong" answers.

Instead, you will be evaluated based on how you arrive at your answer, in another word, how you analyze the problem and the way of your thinking.

Reference no: EM131803812

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