Order ID:89JHGSJE83839 | Style:APA/MLA/Harvard/Chicago | Pages:5-10 |
Instructions:
Developing Kudler Fine Foods’ Strategy and Tactics
Resource: Kudler Fine Foods Virtual Organization
Use the Virtual Organization link on the student website to access additional company information on Kudler Fine Foods.
Write a 1,050- to 1,400-word paper in which you justify the importance of marketing research in developing Kudler Fine Foods’ marketing strategy and tactics. Include the following:
Identify the areas where additional market research is needed.
Analyze the importance of competitive intelligence and analysis regarding the development of Kudler Fine Foods’ marketing strategy and tactics.
Format your paper consistent with APA guidelines.
Problem Set 4
Principles of Microeconomics
Matthew Weinberg
Due: May 15, 2014
Bonnie and Clyde each have the same income of $100, which they can spend on cigarettes and guns. Assume that their indifference curves are downward-sloping and convex. Suppose Bonnie has a stronger preference for guns over cigarettes, while Clyde has a stronger preference for cigarettes over guns.
On the same graph, draw Bonnie’s indifference curves, and Clyde’s indifference curves. Briefly explain how you derived their shapes.
Which person will buy more guns than the other, Bonnie or Clyde? Which person will buy more cigarettes than the other, Bonnie or Clyde? Show this graphically.
Lizzy has an income of $50, which she can spend on two (normal) goods: books and oranges. Each book costs $10 and each pound of oranges costs $2. For each of the following situations, is the proposed bundle Lizzy’s optimal consumption bundle? If not, how should Lizzy change her consumption of oranges and books to increase her utility?
Lizzy is considering buying 1 book and 10 pounds of oranges. At that bundle, her marginal rate of substitution is 5 pounds of oranges for 1 book.
Lizzy is considering buying 4 books and 5 pounds of oranges. At that bundle, she is willing to forgo 1 book to acquire 1 pound of oranges (and maintain the same utility).
Lizzy is considering buying 2 books and 15 pounds of oranges. Lizzy’s marginal utility of the second book is 25, and her marginal utility of the 15th pound of oranges is 5.
Lizzy is considering buying 1 book and 20 pounds of oranges. Lizzy’s marginal utility of the first book is 40, and her marginal utility of the 20th pound of oranges is 2.
Jane derives utility only from her caffeine intake. She can consume coffee or tea, and a cup of coffee contains four times as much caffeine as a cup of tea.
Draw a graph containing Jane’s indifference curves, and explain how you obtained them. Be sure to label and number the axes of your diagram.
Suppose Jane’s income is $10. The price of tea is $0.50/cup, and the price of coffee is $1/cup. Write the equation for Jane’s budget constraint. On the same graph as in part (a), draw Jane’s budget constraint.
How many cups of tea and coffee will Jane consume? Explain intuitively and mark the optimal bundle on your graph.
Jim buys only bananas and CDs. Suppose that Jim’s income is $40, bananas cost $0.80 per pound, and CDs cost $8 each.
Write the equation for Jim’s budget constraint and graph it.
Suppose that Jim’s optimal consumption bundle is 10 pounds of bananas and 4 CDs. Verify that he spends all of his income on this bundle. Illustrate this consumption choice on your graph for part (a), assuming that Jim’s indifference curves are downward-sloping and convex.
1
Suppose the price of CD’s decreases to $5. Write the equation for Jim’s new budget constraint. On a new graph, illustrate the impact of this price change on Jim’s budget constraint (by drawing Jim’s old and new budget constraints).
Assuming that (1) bananas are a normal good, and (2) the income effect dominates for banana consumption, what is the effect of the price decrease of CDs on Jim’s consumption of bananas? Explain why. On your graph from part (c), show the impact of the change in the price of CDs on Jim’s consumption bundle, by decomposing it into the income and substitution effects. Carefully label the income effect, substitution effect and total effect on banana consumption on your graph (label the relevant consumption bundles, mark the sizes of each effect along the relevant axis, and use arrows to indicate the direction of each effect).
Developing Strategy and Tactics
RUBRIC |
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Excellent Quality 95-100%
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Introduction
45-41 points The background and significance of the problem and a clear statement of the research purpose is provided. The search history is mentioned. |
Literature Support 91-84 points The background and significance of the problem and a clear statement of the research purpose is provided. The search history is mentioned. |
Methodology 58-53 points Content is well-organized with headings for each slide and bulleted lists to group related material as needed. Use of font, color, graphics, effects, etc. to enhance readability and presentation content is excellent. Length requirements of 10 slides/pages or less is met. |
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Average Score 50-85% |
40-38 points More depth/detail for the background and significance is needed, or the research detail is not clear. No search history information is provided. |
83-76 points Review of relevant theoretical literature is evident, but there is little integration of studies into concepts related to problem. Review is partially focused and organized. Supporting and opposing research are included. Summary of information presented is included. Conclusion may not contain a biblical integration. |
52-49 points Content is somewhat organized, but no structure is apparent. The use of font, color, graphics, effects, etc. is occasionally detracting to the presentation content. Length requirements may not be met. |
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Poor Quality 0-45% |
37-1 points The background and/or significance are missing. No search history information is provided. |
75-1 points Review of relevant theoretical literature is evident, but there is no integration of studies into concepts related to problem. Review is partially focused and organized. Supporting and opposing research are not included in the summary of information presented. Conclusion does not contain a biblical integration. |
48-1 points There is no clear or logical organizational structure. No logical sequence is apparent. The use of font, color, graphics, effects etc. is often detracting to the presentation content. Length requirements may not be met |
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