Consumers’ choices are prey to subtle discrepancies that arise in cognitive accounting. Learning how and when you are prey to these discrepancies is an important step in improving your decision making.

As the readings for this module demonstrate, people value gains and losses differently under different scenarios. For example, contestants in a game show might choose a guaranteed $10 prize over a 50 percent chance of winning $20 despite the fact that the expected values are the same.

Using the readings for this module, the Argosy University online library resources, and the Internet, address the following:

• What is mental accounting and how does it impact consumer decision making?
• How might a company take advantage of consumers’ mental accounting? Give examples.
• As a marketer, how might you frame certain decisions to benefit from the disparities that arise in one’s cognitive accounting?
• As a consumer, how would you avoid the pitfalls posed by the inequalities of one’s cognitive accounting?

Write a 3–5-page paper in Word format. Apply APA standards to citation of sources. Use the following file naming convention

 

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Discussion 1)

Describe the linkages of the work breakdown structure and the time-phased budget to arrive at an earned value analysis. What is the impact on earned value if the cost estimation is significantly lower because of low estimates or specification changes in the project? Provide examples of projects you have been involved with or read about that may have had this problem.

Problems 2)

Of the three problems below, choose and solve one problem. Show your work. Along with your answer, define each term and explain the significance (meaning) of the solution. 

            1. During a project, Earned Value Analysis is performed and gives the following numbers:

                 EV: 523,000; PV: 623,000; AC: 643,000.

                 Which results are correct?

                 A. CV: +120,000; SV: +100,000

                 B. CV: +100,000; SV: +120,000

                 C. CV: -100,000; SV: -120,000

                 D. CV: -120,000; SV: -100,000

            2. You found the following Earned Value Analysis information for a recently closed out project:

                SPI = 0.7, CPI = 1.0

                A. The project has been cancelled while it was executed. At that time the project was behind schedule and on budget.

                 B. The project’s deliverables have all been finished. The project came in ahead of schedule but on budget.

                 C. The project’s deliverables have all been finished. The project came in on schedule but over budget.

            3. You are assigned as the project manager to a project which had a one-time cost variance in the past caused by unexpected rework which has meanwhile

                 been finished.

                You perform Earned Value Analysis and find the following results:

                EV: 250,000; PV: 200,000; AC 275,000

                BAC is 500,000.

                What is right?

                A. EAC = 550,000

                 B. EAC = 525,000

                 C. EAC = 500,000

                 D. EAC = 425,000

 

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Answer each question with at least 75 words each.

Due Today

1. What are some of the challenges you have had so far as you research bullying? What are some ways you can overcome those challenges? What suggestions do you have for your classmates’ challenges?

Due Thursday

2. How are attitudes developed? Which part of attitude development interests you the most? Explain your response.

3.In your opinion, what are the most influential factors that contribute to persuasion and conformity? Explain your response.

 

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Assignment: MGT600Business Research for Decision Making

1. What are the steps in hypothetico-deductive research? Explain them using your own example not in the book. 650 words
2. Why is appropriate citation important? What are the consequences of not giving credit to the source from which materials are extracted? 400 words
3. For the following case entitled “sleepless nights at Holiday Inn” (published in business Week and adapted here): 300 words

1. Identify the problem
2. Develop a conceptual model
3. Develop at least four hypotheses Sleepless Nights At Holiday Inn
   Just a few years ago, Tom Oliver, the Chief Executive of Holiday Hospitality Corp., was struggling to differentiate among the variety of facilities offered to clients under the Holiday flagship—the Holiday Inn Select designed for business travelers, the Holiday Inn Express used by penny pinchers, and the Crowne Plaza Hotels, the luxurious hotels meant for the big spenders. Oliver felt that revenues could be quadrupled if only clients could differentiate among these. Keen on developing a viable strategy for Holiday Hospitality, which suffered from brand confusion, Tom Oliver conducted a customer survey of those who had used each type of facility, and found the following. The consumers didn’t have a clue as to the differences among the three different types. Many complained that the buildings were old and not properly maintained, and the quality ratings of service and other factors were also poor. Furthermore, when word spread that one of the contemplated strategies of Oliver was a name change to differentiate the three facilities, irate franchises balked. Their mixed messages did not help consumers to understand the differences, either. Oliver thought that he first needed to understand how the different classifications would be important to the several classes of clients, and then he could market the heck out of them and greatly enhance the revenues. Simultaneously, he recognized that unless the franchise owners fully cooperated with him in all his plans, mere face lifting and improvement of customer service would not bring added revenues.

 Note: Plagiarism Free, it will be send to originality verification

 

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