Total Product Offer

One of the American Marketing Association's definitions of marketing says it's "a set of processes for creating, communicating, and delivering value to customers." When consumers calculate the value of a product, they look at the benefits and then subtract the price to see whether the benefits exceed the costs, including the cost of driving to the store or shipping fees if they buy the product online. Whether consumers perceive a product as the best value depends on many factors, including the benefits they seek and the service they receive. To satisfy consumers, marketers must learn to listen better and constantly adapt to changing market demands. From a strategic marketing viewpoint, a product is more than just the physical good or service. A total product offer consists of everything consumers evaluate when deciding whether to buy something. The basic product or service may be a cell phone or a hotel room, but the total product offer includes other aspects of the good or service.

Read the case below and answer the questions that follow.

At the time the new iPhone 3GS was introduced, it was described on Apple's website in the following way:

Priced from $199 to $299, Apple promises that its new iPhone 3GS is the fastest, most powerful iPhone yet. The new version features video recording, Voice Control, and up to 32GB of storage. iPhone is more than just a phone. It combines three devices in one:

a revolutionary mobile phone, a widescreen iPod, and a breakthrough Internet device. All that and more makes it the best phone you'll ever use. The Apple iPhone is a revolutionary phone. With the Multi-Touch interface on iPhone, you can make a call simply by tapping a name or number in your contacts or favorites list, your call log, or just about anywhere. Visual Voicemail lets you select and listen to messages in whatever order you want—just like email. The Apple iPhone shows off your content—music, movies, TV shows, and more—on a beautiful 3.5-inch display. Add to your collection by downloading music and video wirelessly from the iTunes Store. Scroll through songs and playlists with the touch of a finger. Even browse your album artwork using Cover Flow. The Apple iPhone uses fast 3G and Wi-Fi wireless connections to deliver rich HTML email, Maps with GPS, and Safari—the most advanced web browser on a mobile device. It has Google and Yahoo! search built in. And since iPhone multitasks, you can make a phone call while emailing a photo or surfing the web over a Wi-Fi or 3G connection.

The Apple iPhone comes with some amazing applications. And you can choose from thousands more on the App Store and download them with a tap. Your iPhone gets even better with every new app. Play games. Be more productive. Keep yourself entertained. No matter what you want to do on iPhone, there's an app for that. With iPhone, Apple combined innovative hardware features with the world's most advanced mobile operating system to redefine what a mobile phone can do. Applications work together seamlessly and they sync with your computer—whether you're on a Mac or a PC. From its revolutionary Multi-Touch display to its intelligent keyboard to its smart sensors, iPhone is years ahead of any other mobile phone.

What is the total product offer for the Apple iPhone?

A survey found that womens heights are normally distributed with mean 62.1 in and standard deviation 2.1 in the survey also found that mens heights are normally distributed with a mean 69.7 and SD 3.8 a) most of the live characters at an amusement park have height requirements with a minimum of 4ft 9in and a maximum of 6ft 4in find the percentage of women meeting the height requirement the percentage of woment who meet the height requirement? (round to two decimal places as needed) b) find the percentage of men meeting the height requirement the percentage of men meeting the height requirement (round to two decimal places as needed ) c) If the height requirements are changed to exclude only the tallest 5% of men and the shortest 5% of women what are the new height requirements the new height requirements are at least ___ in. and at most ___ in. (round to one decimal place as needed)

In the town of Hooterville, all the downtown stores are identical and all the people who shop downtown are identical. The town can earn revenue in three ways: • It can charge each store a montly license fee. • It can charge an excise tax on the store’s merchandise. • It can charge shoppers to park on the streets (the only way to get downtown is to drive, so every shopper pays the parking fee). The town’s goal is to maximize its total revenue from all three sources. a) How big should the excise tax be? b) Suppose a court ruling requires the town to provide free parking. Now how big should the excise tax be? If necessary, you can answer in terms of labeled portions of graphs. If you do this, please be sure to say why these portions of your graph are relevant to the problem.

a) A county clerk wants to estimate the proportion of voters who will need special election facilities. Suppose a sample of 400 voters was taken. If 150 need special election facilities, what is the upper confidence limit (UCL) for the 90% confidence interval for the population proportion of voters who will need special election facilities. Round your answer to 3 decimal places.

b) A hotel chain wants to estimate the mean number of rooms rented daily in a given month. The population of rooms rented daily is assumed to be normally distributed for each month with a standard deviation of 240 rooms. During February, a sample of 25 days has a sample mean of 370 rooms.

What is the upper confidence limit (UCL) of the 99% confidence interval for the mean number of rooms rented daily in a given month? Round your answer to the nearest whole number.

Azzalini and Bowman (1990) analyzed the data of the waiting time (in minutes) of consecutive eruptions of the Old Faithful geyser in Yellowstone National Park. They found that the waiting times can be categorized into two groups in historical data.

-In group 1, waiting time is normally distributed with mean 54 minutes and standard deviation of 2.95.

-In group 2, the waiting time is normally distributed with mean 80 minutes and standard deviation of 7.5.

Suppose that there is a 30% chance that the waiting time is from group 1. They want to simulate the waiting time.

a) Use Excel functions only to simulate the waiting time. Your simulations should contain 500 iterations. you need only to return in one page showing your model and one page displaying the formulas in your model.

b) what is the average waiting time in your simulation?

The data below shows the duration of eruption (in seconds) of a geyser in a national park and the height (in feet) of the eruptions for a typical day. Use Excel to find the best fit linear regression equation, where duration of eruption is the explanatory variable. Round the slope and intercept to one decimal place.

Duration   Height
240   140
237   154
122   140
267   140
113   160
258   140
232   150
105   150
186   160
248   155
243   125
241   136
214   140
114   155
272   130
227   125
237   125
238   139
203   125
270   140
218   140
226   135
250   141
245   140
120   139
267   110
103   140
270   135
241   140
239   135

Provide your answer below:

y = _x + _

Are the measurements Nominal, Ordinal, Interval, or Ratio?

Also, Qualitative, Discrete or Continuous?

1. Which subsidiary insures your vehicle (choose one)? {MallState, CaveLizard, MaryPoppins}
2. What is your weight?
3. Where do you usually park your vehicle (choose one)? {Public Street, Paid Parking Lot, Private Garage}
4. On average, how many minutes does it take you drive to work?
5. On average, how many miles per year do you drive? (to the nearest tenth of a mile, as the odometer[1] reads)
6. What is the state of your residency?
7. The make calendar year of your car?
8. Buyer’s age category: {less 25, 26-36,37-55, 56-65, over 65}

(i)   What is the temperature that you prefer inside the car (in Fahrenheit)?

(j) Give your customer satisfaction on a scale of 1-10.