John is playing a video game in which he needs to catch balls. He earns 20 points for each of the first 25 balls that he catches and 112 times the regular score for every additional ball that he catches. How many points does he earn for catching 30 balls?
Read the scenario below and answer the questions that follow.
The XYZ Company has developed a new blow dryer. It says that the blow dryer uses state-of-the-art cool-wind technology to eliminate split ends and still dry your hair as fast as a traditional blow dryer. The company is pricing the product at $99 and expects to sell 8 million units in the first year after release. The estimated market size for the product is 64 million people.
The item will be sold to retail wholesalers for $50 each. Any amount that the customer would not pay from the $99 price tag would have to come off of the wholesale price. The company considers the product to be financially viable and worth the risk if it generates an estimated minimum profit margin of 20%.
You should answer the following questions:
Be constructive and professional with Andrew and Charles post, advancing the conversation with questions and examples
Gasoline operated automotive vehicles are a product that has been around for many years. The product lifecycle has shown to last over the decades and has transformed from primitive versions to much more advanced versions running off computerized systems. Even though the market is huge and still thriving today, there is a greater emphasis on renewable energy sources and the health of our planet. This has caused a ripple in the lifecycle and marketing of this product. Automotive makers are having to develop electric cars and cars that are safer for the environment. It does not look good for the lifecycle of our traditional combustion engines. One huge change already has been the hybrid cars running half combustion and half electric. The most recent has been electric cars like the Tesla models. More and more are seen on the roads today. This is forcing the marketing strategies to change and a change in the sales market of the product line. Due to the high cost of such products, it will be many years till the conversion but as with any new technology the market will have to change to meet the demands. This may happen quicker than expected. As written by CNN.com (2019), “According to Bernstein, dramatic declines in the price of batteries will allow leading automakers to sell fully electric vehicles for less than cars powered by gasoline and diesel as soon as 2022.”
I actively work in research for a product called CoStar, which is a commercial real estate marketing and information service. Per QuickMBA, there are 4 stages in a product life cycle: Introduction, Growth, Maturity, and Decline. The product I work on was introduced in the late 1980’s and quickly spread through the commercial real estate broker community. Deals were made with some of the largest brokerages to provide information and marketing services, but our information wasn’t great yet and had a lot of gaps. Since the company going public in 1998, our product seems to be stuck in a perpetual growth phase. New features are added constantly, and the information the database contains is constantly being improved and updated by a team of over a thousand people. We don’t have a lot of competition, mainly because we’ve gotten large enough as a company to purchase competitors outright if we can’t beat their pricing or product. We’ve added ways for our clients to access the product, with Apple Store mobile apps, and we have Android apps in development. After over two decades the product doesn’t seem to be slowing down, and is so unique within the industry that there isn’t a need for differentiation. This is good for our marketing team, because the constant improvements and additions to what we offer incentivizes new clients that might not have seen value in what we had just weeks or months before.
In response to Brittany, comment on facts about the normal distribution your peers have posted, supporting your response by explaining why it captures your interest or describing how the principle can be applied in psychology and/or everyday life.
A normal distribution in data values can be classified as a frequency distribution described as a symmetric bell-shape, consisting of only one peek that corresponds to the mean, median, and mode of the observed data values (Bennett, et al, 2014). What I found to be interesting about the normal distribution is that it occurs in observed when the studied values are influenced by many factors including genetics or environment. I find this so interesting because it can be applied to many topics relating to the psychology field. Many of the objects that are studied can be influenced by multiple factors and normal distribution can help properly describe the findings of studies.
I also found the 68-95-99.7 rule to be interesting. This rule acts as a guide for data values that fall between 1, 2, or 3 standard devations of mean (Bennett, et al, 2014). For a normal distribution, this rule states that about 68% of data lie within one standard deviation of mean, 95% lie within 2 standard deviation of mean, and 99.7% of value lies within 3 standard deviations. This rule is interesting and helpful in identifying and unusual data values, and how it relates to the normal distribution.