: REVIEW: You have an intern who is helping your team. She asked about the difference between cost-plus pricing and target-cost pricing. How would you best describe the question that is answered by a target-cost pricing strategy? View
: Take a look at the data output of a linear regression where the quantity of rib eye steaks sold is modeled as a function of its price, the price of chicken, disposable income, and a time trend. Using this data, what is the price elasticity of rib eye steaks? View
: You are a manager of a company with two main competitors who have disparate price points. How might you choose the best price point for your company? View
: Imagine you are a marketing director at a large office supply chain. You’ve been asked to analyze sales of your store brand pencils compared to a name brand of pencils. You’ve gathered sales data and performed a linear regression on sales and pricing data for store and name brand pencils. The regression shows a negative coefficient for the store brand pencils and a positive coefficient for the name brand pencils. How would you interpret these results? View
: You’ve just performed a linear regression on the quantity of athletic shirts sold during sales targeting customers who have made New Year’s resolutions to get fit. If you have an intercept of 943 and a slope of -30, how many shirts would you estimate will be sold when the price is $12? View
: You are a manager of a company with a single main competitor. How might you choose the best price point for your company? View
: You are a manager for a small chain of power sport product stores. You and some colleagues have gathered data on motorcycle prices and sales for the past quarter. How will calculating price elasticity help you better understand how changes in the motorcycle prices will impact demand ? View
: Imagine you are a marketing director at a large office supply chain. You’ve been asked to analyze sales of your store brand pencils compared to a name brand of pencils. You’ve gathered sales data and performed a linear regression in Excel. How would you begin to interpret the results if there is a negative coefficient for the store brand pencils and a positive coefficient for the name brand pencils? View
