MikesBikes Advanced Quiz 1 Welcome to the MikesBikes Advanced SuperFan Quiz! Take the MikesBikes Advanced Quiz below to go into the draw to win a US$50 Cash Prize and the title of MikesBikes SuperFan! Participants have up to five attempts to answer the most correct questions in the fastest time. Like the Smartsims Facebook Page to receive updates and winner announcements. Competition closes 31 May 2017 (USA EST). Full terms and conditions here. If you have any questions then please contact us. Name Email Address 1. An important task in marketing your product is to identify what your customers want. This will increase demand for your products, and therefore, Sales. Market Research on the bicycle industry has been provided for you on the Market Information report. An excerpt of this report is below which displays how sensitive each market segment is to different areas. Based off this, which would be the better product strategy for a Racers Bike? $4,050 retail price per bike, $0.5 million spent in advertising and $2.5 million in PR $3,500 retail price per bike, $0.5 million spent in advertising and $2.5 million in PR $5,230 retail price per bike, $3 million in advertising. $1,950 retail price per bike, $1.5 million spent in advertising and $1.5 million in PR2. Your course has just had your first rollover and the market summary report has just shown you the results: Within the simulation, what is the likeliest reason for the lost sales within this market segment? Customers decided to shop elsewhere having been offended by your marketing strategy Incorrectly forecasting the demand for the products meaning that not enough bikes were produced The marketing campaigns did not reach their potential allocated customers for that rollover3. Which is the best media channel to promote your bikes through? Internet Magazines Depends on the consumer preferences of the market segment TV4. Before heavily investing in quality, what do you need to consider? The number of market segments that you are selling to Your product strategy Total number of bikes you are producing5. Why is it important to consider both retail price and retail margin when making marketing decisions? To help forecast debt to equity ratio To help forecast return on equity To help forecast net cashflow To help forecast net income6. Which of the following statements is correct? The larger the batch size, the slower the delivery time Batch size and delivery time are unrelated The larger the batch size, the quicker the delivery time7. Which of the following statements are true? Modifying a bike allows us to keep the awareness for our bike When modifying a bike we lose all of our awareness for the product When modifying a bike, there is a 20% awareness carry over from the previous period which will be transferred to the new design8. If the above calculation is used to calculate Total Capacity SCU and your firm currently has: 12,000 Factory Workforce Capacity SCU15,000 Plant Capacity SCU Your firm has entered the current decisions for: Increasing Factory Workforce Capacity SCU by 5,000Increasing Plant Capacity SCU by 10,000 What then would be your Total Capacity SCU for the coming rollover? 17,321 Total Capacity SCU 20,616 Total Capacity SCU 15,968 Total Capacity SCU 19,365 Total Capacity SCU9. What will cause your Product Development Project to fail? Very high project expenditure and very high requested unit prime cost Very low project expenditure and very high requested unit prime cost Very low project expenditure and very low requested unit prime cost Very high project expenditure and very low requested unit prime cost10. What does the Manufacturing Process decision of Supplier Relations expenditure achieve? Reduces raw materials stockout Increases the amount of bikes you need to rework Reduces idle time Increases setup timeClick submit button when you are ready to submit to hand in your quiz. This is needed to enter into the competition.