(Solved):Use the ACSI scores found at (http://www.theacsi.org) to respond to this question. Using the most recent two years of data, test the following two hypotheses: a. American consumers are more satis… View Answer

Use the ACSI scores found at (http://www.theacsi.org) to respond to this question.

Using the most recent two years of data, test the following two hypotheses:

a. American consumers are more satisfied with breweries than they are with wireless telephone services?

b. NET American consumers are more satisfied with discount and department stores than they are with automobile companies?

(Solved):The scenario for Part C Smuckers & Nudge, CPAs, have previously been engaged by Gerrimander Corporation to perform compilations and tax returns. Harry Gerrimander, the company?s president indicated… View Answer

The scenario for Part C Smuckers & Nudge, CPAs, have previously been engaged by Gerrimander Corporation to perform compilations and tax returns. Harry Gerrimander, the company?s president indicated to the accountants that he needed something more than they previously provided. Mr. Gerrimander told Jenny Holt, the partner-in-charge of the engagement, that the resulting financial statements from this proposed engagement would be used primarily for management’s purposes internally as well as short-term bank loans. Holt recommended that a review of the financial statements be performed and work be commenced without an engagement letter. As Holt proceeded with the work, she indicated uneasiness about certain figures and conclusions but said she would take the client’s word about the validity of some entries since the review was primarily for internal use and was not an audit. If Holt had not relied on the representations of management, she would have detected a material act of fraud committed by management.

(a)Explain the role that an engagement letter could have played in this scenario and indicate what should have been covered in the letter.

(b)What was Holt’s duty in this review? What is the potential liability faced by Smuckers & Nudge, CPAs? Who may assert claims against the firm?

(Solved):In monopolistically competitive markets, advertising plays a critical role in the competitive ebbs and flows of such markets. The monopolistically competitive firms use the advertising tool as a me… View Answer

In monopolistically competitive markets, advertising plays a critical role in the competitive ebbs and flows of such markets. The monopolistically competitive firms use the advertising tool as a means of differentiating their product from those of their competitors. An effective advertising campaign could give rise to the development of brand loyalty (and hence, a steady revenue stream).

Hypothetically, if dry cereal manufacturers (a monopolistically competitive industry) decided to no longer advertise their products, how do you think that cereal consumption would be impacted? What would be some of the advantages and disadvantages of such a strategy for both the cereal manufacturers and cereal consumers?

(Solved):A large number of economic and psychological studies demonstrate, that people who are impatient in one area of their life, tend to be impatient in other areas, as well. This isn’t true in every sin… View Answer

A large number of economic and psychological studies demonstrate, that people who are impatient in one area of their life, tend to be impatient in other areas, as well. This isn’t true in every single case, but of course, that doesn’t matter if we’re trying to understand the typical person. Based on your general knowledge and educated guessing:

a. Who is more likely to smoke: a criminal or a law-abiding citizen?

b. Who is more likely to shoot heroin: a person who saves 20% of their income, or a person who can’t ever find a way to save?

c. Who is more likely to have a lot of credit card debt: a smoker or a nonsmoker?

(Solved):Suppose that a glass of acai berry juice at Ana’s gym cafeteria costs as much as a can of soda. Ana knows that while acai berry juice improves health by providing important vitamins, soda drinks co… View Answer

Suppose that a glass of acai berry juice at Ana’s gym cafeteria costs as much as a can of soda. Ana knows that while acai berry juice improves health by providing important vitamins, soda drinks contain artificial ingredients and too much sugar, which causes diabetes. Ana is thirsty and buys herself a glass of juice. How might economic theory explain Ana’s choice?

a. Ana bought juice because her friend was having it.

b. Ana probably has been drinking too much soda lately and would like to have a different drink this time around.

c. Because Ana has a limited income, she buys more juice and less soda.

d. As juice and soda cost the same, Ana buys the drink that she expects will yield her the greatest benefit.

Suppose now that Ana is indifferent between juice and soda. She is thirsty and soda is more expensive than juice. Economic theory predicts that Ana will buy _.

(Solved):The typical buying process consists of the following sequence of events: problem recognition, information search, evaluation of alternatives, purchase decision, and post purchase behavior. What spe… View Answer

The typical buying process consists of the following sequence of events: problem recognition, information search, evaluation of alternatives, purchase decision, and post purchase behavior. What specifically do you do as a consumer in each of these stages in a high involvement purchase like buying a house or a car?

(Solved):Robert Lawrence was aghast. Despite practicing the sales call four times, despite being told before the sales call exactly what to say when the question arose, and despite being directed by the acc… View Answer

Robert Lawrence was aghast. Despite practicing the sales call four times, despite being told before the sales call exactly what to say when the question arose, and despite being directed by the account manager how to respond while in the sales call, the regional director of service still blew it – and away walked a $5.5 million customer. Robert, branch manager for Mobile Connections, knew that the customer, Health Resources of Texas (HRT), was having problems with two of the copiers provided by Mobile. Further, these were reoccurring problems that should be resolved by replacing the equipment. To make matters worse, one of the problem copiers was used by Sharon Collins, one of the decision makers. He knew that Sharon was going to raise the issue of how Mobile would handle “lemons” and whether Mobile would honor its replacement promise. The service director was also aware of the problems but had not processed the request to replace them yet, so he didn’t know with certainty whether the free replacement copiers would be approved. But Robert had rehearsed with Tony Lagera, the service director, to say that the company was reviewing the request and the copiers would either be replaced in the week or shifted to areas with less volume. Sharon raised the question, just as Robert expected. And Tony flubbed it. He hemmed. He hawed. He did everything but answer the question directly. Unfortunately Robert couldn’t just answer for Tony- the service area was Tony’s responsibility, not Robert’s. Robert and the account manager sat in stunned silence. After the call, Robert asked, “So, Tony, how do you think it went?” “Fine, Robert!” he replied with a smile. “You were right on target about Sharon’s question.” “And you think you handled it?” “Oh yes – I think she really liked my response!” Robert didn’t respond, though he thought about asking Tony why she repeated the question four times. Two weeks later, Robert got a copy of the letter that went to his salesperson, thanking Mobile for the presentation but informing them that Mobile would not be allowed to bid on the job. After serving HRT for three years without any hitch other than those two machines (and there were over 100 machines), Mobile wasn’t even going to get a chance to bid.

Questions

1. Things had gone well with this account overall. What, though, were the critical issues in determining the customer’s satisfaction that led to the loss of the customer? Was the problem simply a lack of satisfaction with the product? Using concepts from the chapter, describe how the customer’s value equation was influenced by the experiences both before the call and during the call. Consider, too, the role that the buying center makeup played in the situation.

2.Was there anything the sales rep or his boss, Robert Lawrence, could have done after the sales call to save the business?

3.Not only were there no other problems during the previous three-year contract, but Mobile had originally won the business away from a competitor and significantly improved HRT’s situation. Why didn’t those results enter the picture?

(Solved):We read your letter, requesting your deposit refund. We couldn’t figure out why you hadn’t received it, so we talked to our maintenance engineer, as you suggested. He said you had left one of the d… View Answer

We read your letter, requesting your deposit refund. We couldn’t figure out why you hadn’t received it, so we talked to our maintenance engineer, as you suggested. He said you had left one of the doors off the hinges in your apartment in order to get a large sofa through the door. He also confirmed that you had paid him $5.00 to replace the door since you had to turn in the U-Haul trailer and were in a big hurry. This entire situation really was caused by a lack of communication between our housekeeping inspector and the maintenance engineer. All we knew was that the door was off the hinges when it was inspected by Sally Tarnley. You know that our policy states that if anything is wrong with the apartment, we keep the deposit. We had no way of knowing that George just hadn’t gotten around to replacing the door. But we have good news. We approved the deposit refund, which will be mailed to you from our home office in Teaneck, New Jersey. I’m not sure how long that will take, however. If you don’t receive the check by the end of next month, give me a call. Next time, it’s really a good idea to stay with your apartment until it’s inspected, as stipulated in your lease agreement. That way, you’ll be sure to receive your refund when you expect it. Hope you have a good summer.

Adjust the above paragraph to formal letter.