Create constancy of purpose towardimprovement of product and service,with the aim to become competitiveand to stay in business, and to providejobs.Deming believed that a ±rm musthave a strong future focus. It shouldbe willing to innovate all areas ofoperations, services, and productswith the purpose of improvement andcorresponding cost reduction. It mustbe willing on all levels to invest inthese activities.2Adopt the new philosophy. We are in anew economic age. Westernmanagement must awaken to thechallenge, must learn theirresponsibilities, and take on leadershipfor change.Businesses can no longer acceptgiven levels of errors, defects, andmistakes. This means that a smallbusiness must challenge its ownbeliefs about acceptable levels offailure.3Cease dependence on inspection toachieve quality. Eliminate the need forinspection on a mass basis by buildingquality into the product in the ±rstplace.Inspecting 100 percent of the ±nishedgoods produced by a business iswasteful, costly, and without purpose.A business should focus on evaluatingevery process that is used to producethe product or the service. Using SPCand sampling will achieve better

 

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Explore the FASB Codification sections regarding stockholders’ equity. Identify one concept that you did not

know prior to completing this research and share it with the class, citing the code section. Identify one question that has arisen as you have explored equity in the codification. 250-300 words. Will be plagiarism checked.

 

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For this assignment, you will be asked to ‘think strategically’ and develop a marketing mix for the new

greenhouse on the Columbus Campus.  Please save and submit as an rtf.doc. This assignment is worth 100 points. THOROUGH, COLLEGE-LEVEL work is EXPECTED! Because this is one of the most important concepts in Marketing, it is very likely that this will be part of your capstone paper during your last semester at CCC, so if you are pursuing an AAS degree in Business Administration from CCC, I encourage you to save this assignment for your own files too!

A bit of background: A greenhouse was recently built on the Columbus Campus in order for Ag students to learn how to grow, propagate, etc…types of vegetables, trees, flowers and plants. One of the short-term goals is to provide fresh, organic and sustainable vegetables to the cafeteria on campus; any excess vegetables will be donated to nonprofits like the Columbus City Mission. Long-term goals include sales to the community and this is where they need your marketing advice. You don’t have to know everything about this organization to help. Be creative and think like a ‘marketer’! The very FIRST thing you need to do is decide who their market is because all of the decisions you make when defining the 4 “Ps” will be done to serve the market you defined. 

1.  Define the specific market segments they should serve. Use demographic and geographic segmentation bases. Justify the segment(s) you selected.

Now…based on the market segments you just defined, develop the marketing mix.

1. PRODUCT – remember that products are everything that adds value…not just the product itself. For example, I get my oil changed at a 10-minute oil change place; obviously, the oil-change is the core ‘product’, but why else do I go there? What do they do that ‘adds value’ for me? The vegetables, trees, flowers, and plants grown in the greenhouse are the core products, but what else do they do (or can they do) to add value?
2. PRICE – this isn’t just about arbitrarily putting a dollar amount on things! What about fixed costs and variable costs? How do costs factor into pricing? Finally, what pricing strategy (competitive pricing strategy, market penetration strategy, price skimming, break-even strategy, etc…) makes the most sense for this greenhouse? Why?
3. PLACE – where should the products (in this instance, the vegetables, trees, plants, and flowers) be available for the market segments to buy? Why? Should they attempt to work with local retailers? Why or why not?
4. PROMOTION – How, specifically, should the Ag students promote their products? Include a discussion about the appropriate mediums to be used and why they are likely an effective way to reach the target market segments you defined.

Defining the marketing mix (the 4 “Ps) is really marketing in a nut-shell and one of the most important (if not THE most important) strategic planning tools that a business will do! The better the development of the marketing mix, the greater the chances are for a business to be successful. The really cool thing is that once you learn about the 4 components of the marketing mix, you will be able to apply them to any business! For this assignment, you will be asked to ‘think strategically’ and develop a marketing mix for the new greenhouse on the Columbus Campus.  Please save and submit as an rtf.doc. This assignment is worth 100 points. THOROUGH, COLLEGE-LEVEL work is EXPECTED! Because this is one of the most important concepts in Marketing, it is very likely that this will be part of your capstone paper.

 

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Question: Josh, Inc. is faced with the choice of either producing a
newly designed product, XX-SD, to stock in anticipation of demand
or to customer order. The demand for the product is expected to be
5,000 units per week. Josh decided to produce XX-30 in lots of 500
units. The cost of holding the average unit in inventory per year is
$50 times the average inventory level. IfJosh, Inc. produces to
order, it must discount its unit price on all sales $5 for each week
that the first customer to order has to wait before the product is
delivered. Should Josh, Inc. produce to stock orto order? Answer: Josh, Inc. should utilize a make-to-stock approach since we have a known forecast (assuiming it’s accurate) and customer
demand. Show Your Work: Since we have a known forecast and customer demand, we should multiply 5,000
units per week by 52 weeks per yea r, which should come to a total of 260,000 units. (5,000 * 52 = 260,000) To calculate the average inventory level, we must divide 500 by 2 and then multiply by $50 which should
equal $12,500 annually ((500/2) * $50 = 250 "‘ $50 = $12,500) We have a discount of 260,000 which we then multiply by $5 which should come to a total of $1,300,000.
We then add $12,500. ((260,000 * $5) + $12,500 = $1,300,000 + $12,500 = $1,312,500) Assuming the forecast is accurate, Josh, Inc. can avoid a loss of $1.3 million by taking a make-to-stock approach.

 

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Big City Productions, Inc. buys 4,000 blank CDs per month for use in producing rap music. The ordering cost is

$12.50. Holding cost is $0.12 per CDs per year.

a. How many CDs should Big City order at a time? b. What is the expected time between orders?

 

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