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The average brand ratings across the group of customers

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Reference no: EM13881806

Lingxu Chen

1. Answer the following questions using the principles of the Bass model:

We know the market potential M= 500 (in thousands); the coefficient of innovation P= 0.03; the coefficient of imitation Q= 0.1. In the table below, please fill in t opriate numbers in all the cells highlighted in yellow. Show your calculations (up to the second decimal place) separately.

Hint: Use the following equation: S (t) = P (M- Yt-1) + Q (Yt-1/M)(M- Yt-1)

Period

Sales from Innovators

Sales from Imitators

Total Sales in period

Cumulative Sales till period

Remaining Potential in time

0

0

0

0

0

500

1

500*0.03=15

0

15

0

500

2

485*0.03=14.55

0.1*(500-15)*(15/500)=1.46

14.55+1.455=16.01

0+15=15

500-15=485

3

469*0.03=14.07

0.1*(500-31.01)*(31.01/500)=2.91

14.07+2.81=16.98

16.01+15=31.01

500-31.01=469

4

452.02*0.03=13.56

0.1*(500-47.98)*(47.98/500)=4.34

13.56+4.34=17.90

16.98+31.01=47.98

500-47.98=452.02

5

434.12*0.03=13.02

0.1*(500-65.88)*

(65.88/500)=5.72

13.02+5.72=18.74

17.90+47.98=65.88

500-65.88=434.12

6

415.37*0.03=12.46

0.1*(500-84.63)*(84.63/500)=7.03

12.46+7.03=19.49

18.74+65.88=84.63

500-84.63=415.37

7

395.88*0.03=11.88

0.1*(500-104.12)*(104.12/500)=8.24

11.88+8.24=20.12

19.49+84.63=104.12

500-104.12=395.88

8

375.76*0.03=11.27

0.1*(500-124.24)*(124.24/500)=9.34

11.27+9.34=20.61

20.12+104.12=124.24

500-124.24=375.76

9

355.15*0.03=10.65

0.1*(500-144.85*(144.85/500)=10.29

10.65+10.29=20.94

20.61+124.24=144.85

500-144.85=355.15

10

334.21*0.03=10.03

0.1*(500-165.79)*(165.79/500)=11.08

10.03+11.08=21.11

20.94+144.85=165.79

500-165.79=334.21

2. Company X wants to decide if it should undertake a test market for a new product it plans to launch. If the new product is launched without a test market being conducted, and if it is successful, the company expects an inflow of $ 30 million. If the company were to conduct a test market and then launch an improved product, the launch is expected to bring in $ 38 million. A failure loses $ 8 million; and a test market costs $ 3 million.

a. Compute the appropriate values of the outcomes for each of the nine end-nodes of the decision tree and fill in the appropriate numbers in the nine yellow boxes provided in Table 1 underneath the figure.

Table 1:2312_img1.png

Outcome

Value

1

2

3

4

5

6

7

8

9

37

-9

-1

37

-9

-1

30

-8

0

b. Compute the expected values at the nodes A, B, C, D, E, F, G, H, I, and J and indicate them in the yellow boxes provided in Table 2 below.

Table 2:

Expected Value

A

B

C

D

E

F

G

H

I

J

 

 

 

 

 

 

 

 

 

 

c. What is your decision?(Insert X in the appropriate yellow box below).

Test market

Do not test market

 

 

3. The following table shows consumer purchases by a consumer panel consisting of ten individuals. Time periods are shown from the first week after the launch of a new brand N through the 10th week of the test market. Assume this sample panel is completely representative of the market and forecast the long term percentage market share for the new brand N. C stands for all the competitive brands. (For full points show all your calculations (up to two decimal places) in the yellow region below the table).

Week after launch

1

2

3

4

5

6

7

8

9

10

Consumer#

 

 

 

 

 

 

 

 

 

 

1

C

N

N

N

N

N

N

N

N

N

2

C

N

N

N

C

N

C

N

C

C

3

C

C

C

N

C

C

N

C

C

C

4

C

C

C

C

C

C

C

C

C

C

5

C

N

C

C

C

N

C

C

C

N

6

C

C

C

C

C

C

C

C

C

C

7

C

C

C

N

N

N

N

C

C

C

8

C

C

C

N

N

C

C

N

N

N

9

C

C

C

C

C

C

C

C

C

C

10

C

N

C

N

C

N

C

N

N

N

 

 

 

 

 

 

 

 

4. A group of customers is asked to rate five different brands of cars on two characteristics; power and speed. Each brand is rated on a scale of 1 to 5 for each characteristic. Each consumer is also asked to rate an ideal car. The average brand ratings across the group of customers are as follows:

Brand

Power (X)

Speed

(Y)

A

3

2

B

4

3

C

1

2

D

2

4

Ideal

4

5

Suppose an analyst found the following model to be true:

Mi = 5K/di

Where Mi = market share of any brand i
K = Constant
di= distance of any brand i from the ideal brand

Based on this mathematical model calculate the shares of brands A through D.

5. Essay Question

Please watch the guided video first, do some research on iPad Pro as well as briefly analyze the general market potential (tablet computer market), competitions, and sales potential of the product. Then answer the question "How likely do you think iPad Pro will succeed?".

I require minimum three pages of high-quality work. Please strictly abide by the submission guideline below. The deadline is hard and fast this time, so please do not miss the due date.

The video link is https://www.wsj.com/articles/ipad-pro-review-jack-of-all-trades-master-of-most-1447243200?mod=LS1.

Reference no: EM13881806

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