Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

1 . Based on the data provided in the marketing dashboard, what type of promotional marketing effort, if any, should Kai invest in to increase

1. Based on the data provided in the marketing dashboard, what type of promotional marketing effort, if any, should Kai invest in to increase the number of canine customers and profit?
(Click to select)
2. Kai feels strongly that putting a coupon in the market will dilute the perceived value of his services, so he really wants to pursue the magazine advertising option. Kai can change the size of the ad which will affect the cost and the effectiveness of the ad. Which combination of advertising cost and responsiveness (number of new customers) maximizes his profit?
(Click to select)
3. Another option that Kai could consider is changing the value of the coupon. Not surprisingly, the larger the coupon , the more customers Kai can expect. A $2 coupon gets him 120 clients per month, a $5 coupon gets him 135 clients per month, a $10 coupon gets him 150 clients per month, a $15 coupon gets him 175 clients per month, and a $20 coupon gets him 200 clients per month. Which customer/coupon combination maximizes Kai's profits?
(Click to select)
4. To maximize his profit, Kai should adopt which of the following strategies?
(Click to select)
5. Instead of utilizing a promotional marketing tactic, Kai has decided to change the price of his product in an effort to increase his customer base and maximize his profit. The lower the price, the more customers Kai can expect to attract. Which customer/price combination will maximize Kai's profit?
(Click to select)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Management Today

Authors: Terri A. Scandura, Kim Gower

1st Edition

1506385877, 978-1506385877

More Books

Students also viewed these General Management questions