Balancing the marketing mix through creative and innovative strategies

W.K. Kellogg and his brother, Dr. John Harvey Kellogg, founded the Kellogg Company in 1898. Through experimentation with flaked corn, W.K. Kellogg created the recipe for Corn Flakes. In 1906, he opened the “Battle Creek Toasted Corn Flake Company” and recruited his first 44 employees. Together with these employees he developed the initial batch of Kellogg's Corn Flakes bringing to life his vision for great-tasting, ‘better-for-you’ breakfast foods.

Kellogg embraced every opportunity to make a difference in peoples’ lives and was motivated by his passion to help people improve their health. Today, over a hundred years since it was first founded, the Kellogg Company still upholds his original values. The company is the world’s leading producer of cereals and a market leader in health and nutrition. Kellogg’s was one of the first companies to print nutrition labels on its packaging and, in 2007, was amongst the first companies to print Guideline Daily Amounts (GDA) on its products to inform the public about the food they are eating. This has helped the company to engage with a market more concerned with healthy living

A marketing strategy determines what a company is going to produce in terms of products or deliver in terms of services, how much it is going to charge for these products or services, how it will deliver these products or services to the customer, and how it is going to tell its customers about its products and services. This is known as the marketing mix and is often referred to as the 4Ps of marketing. The mix involves creating the right product, sold at the right price, in the right place, using the most suitable methods of promotion. Although the marketing mix will vary from business to business and market sector, its purpose is to assist a business to balance these four key factors to meet the needs of the customer

Kellogg’s balances the 4Ps by Offering a wide range of popular products and regularly introducing exciting new products to the market. Pricing its products to ensure that customers receive the best possible product for their money. Help ensuring its products are available wherever shoppers are, from supermarkets, to the internet or on-the-go, and by understanding shopper behaviors. Delivering engaging and exciting marketing communications.

Getting the right product or service to the customer, at the right price, in the right place and at the right time is fundamental to business success. Understanding and balancing the marketing mix enables an organization to uniquely position its brand to drive sales of its products and services. To remain as a market leader a business needs to continually look at new ways of engaging and exciting customers in its products and services.

Please answer the following questions:

1-Discuss how Kellogg succeeded in differentiating and positioning its products for maximum competitive advantage in the marketplace?

2-Identify any one of Kellogg's competitor to discuss the differences in marketing strategies between the two.

The labour force participation rate is

Select one:

the percentage of the working-age population who are employed

the percentage of the labour force who are unemployed or employed

the percentage of the working-age population who are either unemployed or employed

the percentage of the labour force who are employed

equal to the employment rate plus the unemployment rate

Question 2

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Which one of the following people is structurally unemployed?

Select one:

a Saskatchewan welder who lost her job when her company relocated to B. C. and is currently looking for a job

a Nova Scotia fishery worker who is searching for a better job closer to home

a steel worker who is laid off but who expects to be called back soon

an office worker who has lost her job because of a general slowdown in economic activity

a student who recently graduated and is looking for work

Question 3

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If the people who take early retirement are not counted in the working-age population, then

Select one:

the unemployment rate would be lower

the labour force participation rate would be less

the unemployment rate would be higher

the labour force participation rate would be higher

the number of discouraged searchers would decrease

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People become unemployed when they

Select one:

retire

are on maternity leave

quit working to go to university

leave college and start seeking work

become discouraged searchers

Question 5

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If the economy is at full employment, then

Select one:

the entire population is employed

the entire labour force is employed

the only unemployment is frictional unemployment plus discouraged searchers

the unemployment rate is less than 3 percent

all unemployment arises from normal frictions and structural change

Question 6

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If the economy is at full employment,

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the entire population is employed

the entire labour force is employed

the only unemployment is frictional unemployment plus discouraged searchers

real GDP equals potential GDP

all unemployment is cyclical and structural

Question 7

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In a recession, typically

Select one:

unemployment decreases

the labour force participation rate increases

the employment rate decreases

the employment rate increases.

the labour force participation rate does not change.

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In a country with a working-age population of 20 million, 14 million are employed, 1.5 million are unemployed, and 1 million of the employed are working part-time, half of whom wish to work full-time. The size of the labour force is

Select one:

20 million

15.5 million.

14.5 million

14 million

12.5 million

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In a country with a working-age population of 30 million, 20 million are employed, 2 million are unemployed, and 2 million of the employed are working part-time, half of whom wish to work full-time. The unemployment rate is

Select one:

10 percent

9.1 percent

13.6 percent

18.2 percent

2 percent

Question 10

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Which one of the following people would be counted as unemployed in Canada?

Select one:

Veena is not working, but she is looking for a full-time job.

Kathy has stopped looking for work since she was unable to find a suitable job during a one-month search.

Sharon is a university student with a job.

Christos was laid off from his job a month ago and has not been looking for a new job, as he is waiting for a severance package from his former employer.

Benoit was laid off when his firm closed down two months ago and has not been looking for work, as he is going back to school.

In a hypothetical case-control study, researchers are interested in exploring the activities and behaviors of individuals at Northwestern University that may be associated with increased risk for testing positive for COVID-19.

a. What inclusion and exclusion criteria would you use? Why?

b. Define who is considered a case. How might you identify cases?

c. Carefully define who is in the control group. How might you accurately identify control individuals?

d. For the case-control study, how would you collect information on activities and behaviors?

e. Discuss how cases and controls in your study might differ, besides disease status, and how this might bias the results.

An individual can draw on many sources and types of power when trying to influence others. Describe the five sources of power: legitimate power, coercive power, reward power, referent power and expert power. In terms of project management and organizational roles, who has each of these types of power?

What are some of the risk factors in a child's ecological environment that might result in the neglect or abuse of a child? What is society's responsibility for protecting children or is this a "private matter?" In what ways can individual citizens advocate for improvement in systems that care for children who have been abused or neglected? Explain

Kyle, Casey and Kelly are the sole three workers at Becker and Joe electronics. They can each buy their insurance through the employer's firm if they want to, but each will have their wages reduced by the full premium if they choose to participate in the plan. Their personal actuarially fair premiums (AFPs) are listed below, along with the average AFPs depending on how many of them choose to participate in the insurance plan. Assume there is no moral hazard.

The insurance company observes the number of employees that buy the policy and knows the relationship between the number of buyers and the average AFP. However, the insurer cannot observe each worker’s individual AFP unless it performs a medical exam on each worker. If the insurer does not perform the medical exams, assume it charges each worker a premium equal to the average AFP given the total number of workers who buy insurance. If the insurer does perform the medical exams, assume it charges each employee a premium equal to their individual AFP.

a) Suppose medical exams are not conducted. What factors will determine whether or not Kelly will buy insurance (assume Kelly knows that if he purchases the policy, Kyle and Casey will also purchase the policy)?

b) What determines whether or not Casey would like the insurance company to conduct the medical exams?

The following table lists the weight of individuals before and after taking a diet prescribed by a weight-loss company for a month:

You may find this Student's t distribution table useful in answering the following questions. You may assume that the differences in weight are normally distributed.

a)Calculate the sample variance (s_d²) of the changes in individual weights. Give your answer to 2 decimal places.

s_d² =

b)A disgruntled customer states:

"This weight-loss company is a complete farce. All the people I know who signed up experienced no changes in their weight at all. I seriously doubt this diet has any effect whatsoever. I want my money back!"

You plan to do a hypothesis test on this claim where the hypotheses are:

H₀: the customer's claim is true and the program has no effect on weight
H_A: the customer's claim is not true and the program does have an effect on weight, whether it increases or decreases

According to the data given, you should accept, reject, not reject the null hypothesis at a confidence level of 90%.

The following table lists the weight of individuals before and after taking a diet prescribed by a weight-loss company for a month:

Weight-loss Data:

Individual: A, B, C, D, E, F

Weight Before (lb): 123.7, 128.7, 135.6, 194.9, 145.5, 162.3

Weight After (lb): 109.4, 109.7, 123.3, 186.5, 126.8, 151.5

Weight loss (lb): 14.3, 19.0, 12.3, 8.4, 18.7, 10.8

You may find this Student's t distribution table useful in answering the following questions. You may assume that the differences in weight are normally distributed.

a)Calculate the sample variance (sd2) of the changes in individual weights. Give your answer to 2 decimal places.

sd2 =

b)A disgruntled customer states: "This weight-loss company is a complete farce. All the people I know who signed up experienced no changes in their weight at all. I seriously doubt this diet has any effect whatsoever. I want my money back!"

You plan to do a hypothesis test on this claim where the hypotheses are:

H0: the customer's claim is true and the program has no effect on weight

HA: the customer's claim is not true and the program does have an effect on weight, whether it increases or decreases

According to the data given, you should accept, reject, or not reject the null hypothesis at a confidence level of 99%.

Read this article and answer questions at the bottom.

The Rise of the Jumbo Student Loan

Most students with loan balances exceeding $50,000 in 2010 had failed to pay down any debtfour years late

During the housing boom of the 2000s, jumbo mortgages with very large balances became a flashpoint for a brewing crisis. Now, researchers are zeroing in on a related crack but in the student debt market: very large student loans with balances exceeding $50,000. A study released Friday by the Brookings Institution finds that most borrowers who left school owing at least $50,000 in student loans in 2010 had failed to pay down any of their debt four years later. Instead, their balances had on average risen by 5% as interest accrued on their debt. As of 2014 there were about 5 million borrowers with such large loan balances, out of 40 million Americans total with student debt. Large-balance borrowers represented 17% of student borrowers leaving college or grad school in 2014, up from 2% of all borrowers in 1990 after adjusting for inflation. Large-balance borrowers now owe 58% of the nation’s $1.4 trillion in outstanding student debt. “This is comparable to mortgage lending, where a subset of high-income borrowers hold the majority of outstanding balances,” write Adam Looney of Brookings and Constantine Yannelis of New York University. “A relatively small share of borrowers accounts for the majority of outstanding student-loan dollars, so the outcomes of this small group of individuals has outsized implications for the loan system and for taxpayers,” the authors say. The problem is particularly acute among borrowers from graduate schools, who don’t face the kinds of federal loan limits faced by undergraduate students. Half of today’s big balance borrowers attended graduate school. The other half went to college only or are parents who helped pay for their children’s education. Grad school borrowers tend to be among the best at paying off student debt because they typically earn more than those with lesser degrees. But the rising balances unearthed in the latest study suggest that pattern might be changing. Overall across the U.S., one-third of borrowers who left grad school in 2009 hadn’t paid down any of their debt after five years, compared to just over half of undergraduate students who hadn’t, federal data show. Mr. Yannelis and Mr. Looney, a former Treasury Department official under President Barack Obama, built the research out of exclusive access to federal student-loan and tax data. The findings on graduate schools are particularly noteworthy because the government offers little information on the loan performance of grad students, who account for about 14% of students at universities but nearly 40% of the $1.4 trillion in outstanding student debt. The data set accompanying the new study breaks down performance for students at 934 schools with 100 or more graduate borrowers whose loans first came due in 2009. At Nova Southeastern University , a large private nonprofit school in South Florida, just over half of the 10,319 graduate borrowers who departed in 2009 had reduced their balances by just a dollar or more five years later, the data show. Many sought or received advanced degrees in health fields. They collectively borrowed $412 million for grad school, or an average $40,000, excluding any debt from other schools, the study showed. George Hanbury, Nova Southeastern’s president, said many of the school’s former grad students went into health fields, where salaries often start low and then rise quickly later on. “They all have the capability to see higher incomes the longer they stay in their career, which means they have the greater capability to increase their rate of payback than they do in the earlier stage,” Mr. Hanbury said. He said the school’s former students earn more, on average, than workers with bachelor’s degrees. At Arizona State, a large public university in Tempe, 51% of the 4,000 grad students who left in 2009 had reduced their initial balances by 2014. Arizona State, through a spokesman, declined to comment. At Walden University, a large collection of graduate programs run by Wall Street giant Laureate Education Inc., 53% of 9,530 graduate borrowers paid down their balances by at least a dollar or more over five years. Many were enrolled in programs involving social services. Walden, in a statement emailed by a spokeswoman, said many former graduate students are in fields that often pay modestly at first but serve a social good. “This is consistent with our social mission where we are educating in professions like teaching, social work, and counseling, for example, and those professionals may not earn significant salaries right after graduation, but who are making a significant societal impact,” the statement said. Most borrowers from those schools aren’t in default. Instead, a big share of them are in debtrelief plans that lower monthly payments, known as income-driven repayment, or they’ve won permission from the government to postpone payments due to a range of circumstances, including unemployment or further study.

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