Week 9 Notes (Tuesday, 10/27/15 - Thursday, 10/29/15)
Week 9 Notes (Tuesday, 10/27/15 - Thursday, 10/29/15) 241
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This 4 page Class Notes was uploaded by JacksonB on Thursday October 29, 2015. The Class Notes belongs to 241 at Brigham Young University taught by Swenson in Summer 2015. Since its upload, it has received 27 views. For similar materials see Marketing Management in Business at Brigham Young University.
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Date Created: 10/29/15
BUS M 241 Swenson Tuesday 102715 Global Supply Chain Management Guest Lecturer Scott Webb He s giving us the answers to two questions on the next exam Supply Chain Management managing the process of shipping products globally Most of the products we use and wear are manufactured all over the world Parts of the iPhone are madedesigned in 19 different countries When something goes wrong in the supply chain everyone is responsible Managers are responsible to make sure suppliers are doing things ethically not covering up problems no child labor etc Supply chains are responsible for creating value by creating strong relationships with suppliers Supply chain management could be renamed relationship management These relationships are governed by trust Businesses compete supply chain vs supply chain Businesses are only as good as their supply chains The retail supply chains uniquely qualified to create sustainability If you re interested check out supplychainclubbyuedu Test Questions Q If something goes wrong in a supply chain who is responsible A Everyone Q Supply chain management is A The business of business BUS M 241 Swenson Thursday 102915 Stukent Info Guest Speaker Stuart Draper cofounder of Stukent If you re interested in creating your own website check out these sites WordPresscom weeblycom or themeforestnet Doing so Will impress employers when you re applying for jobs For the Stukent assignment we Will be responsible for designing an online ad campaign for digital cameras The due date is next Thursday Since this is the first time this assignment has ever been given they re going to be very lenient Professor Swenson said as long as you put in some real effort you should expect at least 80 Pricing Unit Contribution Price Unit Variable Cost Volume total number of units sold Total Contribution Price Unit Variable Cost Volume OR Total Contribution Unit Contribution Volume OR Total Contribution Total Revenue Total Variable Cost BreakEven Analysis discovering how many units need to be sold in order to break even no profits but also no losses BreakEven Volume Fixed Cost Price Unit Variable Cost OR BreakEven Volume Fixed CostUnit Contribution Market Share percentage of the industry volume Example if 100000 hammers are sold across the market and we sell 10000 of them we have a market share of 10 Consumers may use price as an indicator of product quality Higher prices presumably mean higher quality External Reference Price what everyone else is paying for the product Internal Reference Price what you think you should pay given past experience and the buying situation Ultimately prices are determined by what the consumer is willing to pay The buying situation largely determines what the consumer is willing to pay Example people will pay a lot more for a hot dog at a sports event 6 than at Costco 150 They expect food prices at a football game to be significantly higher than food prices at grocery stores Willingness to pay is affected by relative incentives Example when buying a DVD for 20 most people would be willing to go to a different store 10 minutes away for a copy of that same DVD that costs 10 However when buying something more expensive like a Bluray player that costs 250 most people would not bother going to a different store 10 minutes away to buy that same Bluray player for 240 In both scenarios people have the opportunity to save 10 but the responses still vary widely
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