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Charlie's Furniture Store has been in business for several years. The firm's owners have described the store as a "high-price, high service operation that provides lots of assistance to its customers. Margin has averaged a relatively high 30% per year for several years, but turnover has been a relatively low 0.2 based on average total assets of $1,200,000. A discount furniture Store is about to open in the area served by Charlie's, and management is considering lowering prices to compete effectively Required: a. Calculate current sales and ROI for Charlie's Furniture Store b. Assuming that the new strategy would reduce margin to 20%, and assuming that average total assets would stay the same. calculate the sales that would be required to have the same ROI as Charlie's currently earns. c. Suppose you presented the results of your analysis in parts a and b of this problem to Charlie, and he replied, "What are you telling me? If i reduce my prices as planned, then I have to increase my sales volume by 50% to earn the same return?" Given the results of your analysis, what is the actual amount of increase in sales required? d. Now suppose Charlie says. "You know, I'm not convinced that lowering prices is my only option in staying competitive What if were to increase my marketing effort? I'm thinking about kicking off a new advertising campaign after conducting more extensive market research to better identify who my target customer groups are in general, explain to Charlie what the likely impact of a successful strategy of this nature would be on margin, turnover and ROL e. What are the other alternative strategy that might help Charlie maintain the competitiveness of his business Complete this question by entering your answers in the tabs below Required A Required B Required Required D c. Suppose you presented the results of your analysis in parts a and b of this problem to Charlie, and her me? If I reduce my prices as planned, then I have to increase my sales volume by 50% to earn the same your analysis, what is the actual amount of increase in sales required d. Now suppose Charlie says, "You know, I'm not convinced that lowering prices is my only option in stayi were to increase my marketing effort? I'm thinking about kicking off a new advertising campaign after market research to better identify who my target customer groups are." In general, explain to Charlie w successful strategy of this nature would be on margin, turnover, and ROL e. What are the other alternative strategy that might help Charlie maintain the competitiveness of his bus Complete this question by entering your answers in the tabs below. Required A Required B Required Required D Required E Calculate current sales and ROI for Charlie's Furniture Store. (Round your "ROI" to 1 decimal place.) Sales ROI Required B > Homework (10 points) Saved b. Assuming that the new strategy would reduce margin to 20%, and assuming that average total assets would stay the sa calculate the sales that would be required to have the same ROI as Charlie's currently earns. c. Suppose you presented the results of your analysis in parts a and b of this problem to Charlie, and he replied, "What are me? If I reduce my prices as planned, then I have to increase my sales volume by 50% to earn the same return?" Given your analysis, what is the actual amount of increase in sales required? d. Now suppose Charlie says, "You know, I'm not convinced that lowering prices is my only option in staying competitive. keting effort im thinking about kicking off a new advertising campaign after conducting more market research to better identify who my target customer groups are." In general, explain to Charlie what the likely successful strategy of this nature would be on margin, turnover, and ROI. e. What are the other alternative strategy that might help Charlie maintain the competitiveness of his business. Complete this question by entering your answers in the tabs below. Required A Required B Required Required D Required E Assuming that the new strategy would reduce margin to 20%, and assuming that average total assets would stay the same, calculate the sales that would be required to have the same ROI as Charlie's currently earns. (Do not round Intermediate calculations..... Sales (Required A Required C > calculate the sales that would be required to have the same ROI as Charlie's currently earns c Suppose you presented the results of your analysis in parts a and b of this problem to Charlie, and he replied, "What are you te me? If I reduce my prices as planned, then I have to increase my sales volume by 50% to earn the same return?" Given the resu your analysis, what is the actual amount of increase in sales required? d. Now suppose Charlie says, "You know, I'm not convinced that lowering prices is my only option in staying competitive. What if I were to increase my marketing effort? I'm thinking about kicking off a new advertising campaign after conducting more extensi market research to better identify who my target customer groups are." In general, explain to Charlie what the likely impact of a successful strategy of this nature would be on margin, turnover, and ROL e. What are the other alternative strategy that might help Charlie maintain the competitiveness of his business Complete this question by entering your answers in the tabs below. Required A Required B Required C Required D Required E Suppose you presented the results of your analysis in parts a and b of this problem to Charlie, and he replied, "What are you telling me? If I reduce my prices as planned, then I have to increase my sales volume by 50% to earn the same return?" Given the results of your analysis, what is the actual amount of increase in sales required? (Do not round intermediate calculations.) Show less Increase in sales required (Required B Required D > 9 earch DULLES strategy of this nature would be on margin, turnover, and ROL e. What are the other alternative strategy that might help Charlie maintain the competitiveness of his business. Complete this question by entering your answers in the tabs below. Required A Required B Required C Required D Required E Now suppose Charlie says, "You know, I'm not convinced that lowering prices is my only option in staying competitive. What I were to increase my marketing effort? I'm thinking about kicking off a new advertising campaign after conducting more extensive market research to better identify who my target customer groups are." In general, explain to Charlie what the likely impact of a successful strategy of this nature would be on margin, turnover, and ROI. Show less Effect on Margin Effect on Turn over Effect on ROI (Required Required E > Parch