Read the following case study and answer the questions.                                     1*6=6

RBC’s Youth Marketing Strategy

As stated above, the marketing strategy consists of selecting a target market and designing the marketing mix of your product, price, place, and promotion to appeal to your competitors. RBC, Canada’s largest bank, obviously has many different target markets, which results in the key managing different marketing mixes. One key target market for the bank is university students and recent graduates. The group is particularly important as they are just starting to form relationships with companies and the bank realized that if it captures a young customer’s business now it may be able to retain the customer for a lifetime. To achieve this result, RBC tries to differentiate itself from the other banks by creating a superior “student-focused” marketing mix.

    While all banks in Canada are offering student banking packages, student lines of credit, credit cards for students and so forth, RBC is attempting to differentiate itself first and foremost by using promotions that appeal to youth. The bank spends upwards of 120$ million to sponsor the 2010 Olympics, including the “Own the Podium” campaign, which consisted of directing money to athletes who had the best chance to capture an Olympic medal, and the “Torch Relay”, a 45000 kilometer trip across the country that stopped in cities and towns and featured youth-focused entertainment. RBC has followed up that promotion with a commitment to the “Road to Excellence” program, which replaced “Own the Podium. “Royal Bank has now committed to being the Premier National Partner of the Canadian Olympic Committee through 2016 and is proving additional support for the Paralympic teams.

            In addition, RBC is considered the social media leader among the big banks in Canada. RBC has invested heavily in social media including Twitter, Facebook, blogs, avatars, and online completions and communities to attract young clients. For example, a recent online contest focused on recent university graduates who were asked to provide the best advice they could to new university students.

Questions:

1. What markets in RBC targeting with social media?

2. Are there other things RBC could be doing with its marketing mix to appeals to the youth markets?

Essential Statistics for the Behavioral Sciences. Second Edition Chapter 9, #20: A study evaluating the effects of parenting style (authoritative, permissive) on child well-being observed 20 children (10 from parents who us an authoritative parenting style and 10 from parents who use a permissive parenting style). Children between the ages of 12 and 14 completed a standard child health questionnaire where scores can range between 0 and 100, with higher scores indicating greater well-being. The scores are given in the table. Authoritative Parenting Style: 60, 65, 70, 65, 80, 50, 75, 55, 60, and 70. Permissive Parenting Style: 80, 75, 55, 85, 90, 65, 70, 65, 70, and 80. [a] Test whether or not child health scores differ between groups using a 0.05 level of significance. State the value of the test statistic and the decision to retain or reject the null hypothesis. [b] Compute effect size using estimated Cohen's d.

(A) Three marksmen fire simultaneously and independently at a target. What is the probability of the target being hit at least once, given that marksman one hits a target nine times out of ten, marksman two hits a target eight times out of ten while marksman three only hits a target one out of every two times. (B) Fifty teams compete in a student programming competition. It has been observed that 60% of the teams use the programming language C while the others use C++, and experience has shown that teams who program in C are twice as likely to win as those who use C++. Furthermore, ten teams who use C++ include a graduate student, while only four of those who use C include a graduate student. (a) What is the probability that the winning team programs in C? (b) What is the probability that the winning team programs in C and includes a graduate student? (c) What is the probability that the winning team includes a graduate student? (d) Given that the winning team includes a graduate student, what is the probability that team programmed in C? (C) A brand new light bulb is placed in a socket and the time it takes until it burns out is measured. Describe an appropriate sample space for this experiment. Use mathematical set notation to describe the following events: (a) A = thelight bulb lasts at least 100 hours. (b) B = thelight bulb lasts between 120 and 160 hours. (c) C = thelight bulb lasts less than 200 hours. (D) A university professor drives from his home in Cary to his university office in Raleigh each day. His car, which is rather old, fails to start one out of every eight times and he ends up taking his wife’s car. Furthermore, the rate of growth of Cary is so high that traffic problems are common. The professor finds that 70% of the time, traffic is so bad that he is forced to drive fast his preferred exit off the beltline, Western Boulevard, and take the next exit, Hillsborough street. What is the probability of seeing this professor driving to his office along Hillsborough street, in his wife’s car?

business law.

1. How is tort law different from the other types of US common law?

A. It is a response to the problem of injury.

B. The other answers describe contract law, property law, and criminal law.

C. It arises from mutual agreements.

D. It regulates ownership.

E. It penalizes wrongful actions on behalf of the public.

2. Which of the following is NOT a goal of tort law?

A. Making people honor their agreements

B. The answer is a goal of contract law, not tort law

C. Compensating victims of injury.

D. Deterring dangerous behavior.

E. Punishing recklessness and malice.

F. Forcing businesses to internalize their costs

3. Under the Massachusetts state court’s ruling in the historic “fighting dogs” case of Brown v. Kendall (1850):

A. A plaintiff is entitled to compensation if the defendant acted unreasonably.

B. A plaintiff is entitled to recover if the defendant is at fault.

C. A plaintiff who is partly at fault for his or her injury can never recover damages.

4. Recognized defenses in a common law tort action do not include

A. Self-defense. B. Defense of property. C. Honest mistake of the law.

5. Under the rules of US common law, a stranger who happens to witness an accidental injury in progress and who is in a position to help:

A. Has a legal obligation to intervene with assistance.

B. Has a legal duty to not get involved, because meddlers can possibly make things worse for the victim.

C. Has no duty to rescue and is potentially liable for injuries caused in a botched rescue attempt.

True or False:

The U.S. Constitution contains mainly detailed rules about how state officials are chosen and removed, how laws are passed, how the court system run and how finances and revenues are paid and collected.

This website design criteria considers whether the website is aesthetically pleasing to the eye and if the website design accurate conveys the company’s image.

1 points   

QUESTION 2

_______ is considered a wealthy individual who contributes personal funds and expertise at the earliest stage of business development.

QUESTION 3

These questions support which step in creating a new online company or online project:

Does the business owner know the industry well?

Are family and friends supportive?

Does the business owner have the skills and entrepreneurial attitude to be successful?

As far as a company amortizing intangible assets, one could formulate an equation to determine the value of an employee over thire length of time with the company. Don’t employers already amortize the asset of an individual with increases, bonuses or advancement?

What are the main business environment factors in HVAC - variable frequency drives market in US.

1. Political/Legislative factors

2. Distribution factors - from EU to US

3. Technological factors - difference between US and EU

1)         The population standard deviation for waiting times to be seated at a restaurant is known to be 10 minutes. An expensive restaurant claims that the average waiting time for dinner is approximately 1 hour, but we suspect that this claim is inflated to make the restaurant appear more exclusive and successful. A random sample of 30 customers yielded a sample average waiting time of 50 minutes.

1. Is there evidence to say that the restaurant’s claim is too high? Insert the results from StatCrunch here.

2. State the hypotheses, your decision and conclusion. Include the reason for your decision using the output from above.

3. The original data (individual waiting times) is not normally distributed. What theorem allows us to do the calculations in part (a)?

2)         A sample of 800 items produced on a new machine showed that 48 of them are defective. The factory will get rid the machine if the data indicates that the proportion of defective items is significantly more than 5%. At a significance level of 10% does the factory get rid of the machine or not?

1. Insert the results from StatCrunch here.

2. State the hypotheses, your decision and conclusion. Include the reason for your decision using the results from above.

3)         A psychologist claims that the mean age at which children start walking is 12.5 months. The following data give the age at which 18 randomly selected children started walking.

15        11        13        14        15        12        15        10        16

17        14        16        13        15        15        14        11        13

1. Test at the 1% level of significance if the mean age at which children start walking is different from 12.5 months. Insert the results from StatCrunch here.

2. State the hypotheses, state your decision and conclusion. Include the reason for your decision from the results above.

4)         According to a study, 107 of 507 female college students were on a diet at the time of the study.

a) Construct a 99% confidence interval for the true proportion of all female students who were on a diet at the time of this study. Insert the results from StatCrunch here.

b) Interpret this interval.

c) Is it reasonable to think that only 17% of college women are on a diet? Why or why not?

Risks Pooling is utilised by Insurance companies to transfer the risk from an insured individual to a group or a pool to minimize the possibility of losses. Please elaborate on the practicality of this risk mitigating strategy by using an example.