Repository focused on data modeling for academic, personal and professional projects.
A firm conducts marketing research to learn about customer characteristics, attitudes and preferences.
Marketing research services include designing the study, conducting surveys, analyzing data collected, and providing recommendations for the client.
In the research design phase, targets or quotas may be established for the number and types of respondents to be surveyed.
The marketing research firm's objective is to conduct the survey so as to meet the client's needs at a minimum cost.
Find out how many surveys should be conducted based on the requirements set by the firm. The goal is to secure valid research for marketing purposes.
Welte Mutual Funds, Inc (WMF), obtained $100,000 by converting industrial bonds into cash. The company is looking for investment opportunities for these funds.
The firm's analyst recommends all new investments be made in the oil industry, steel industry, or in government bonds. Specifically, the firm has identified five investment opportunities and projected its annual rates of return.
Find out how much investment should be made into each industry, under their constraints to achieve maximum return.
Relax-and-Enjoy Inc is developing a new residential complex at a privately owned lake. The primary market for their homes includes middle and upper-class families within approximately 100 miles of the development.
The company BP&J is in charge of the media strategy. They will run a media project for one month, and they will consider five advertising media:
- Daytime TV
- Evening TV
- Daily newspaper
- Sunday newspaper
- Radio
- the advertising budget is $30,000
- 10 TV commercials must be used
- All ads must reach 50,000 potential customers
- No more than $18,000 may be spent on TV
Determine the minimum cost required to have high quality exposure on their budget.