Question 1- In a study measuring households' familiarity with downloading pictures from the Internet, the following results were obtained (1 = not at all familiar, 7 = very familiar).
| Level of Familiarity |
Number of Households |
| 1 |
22 |
| 2 |
26 |
| 3 |
34 |
| 4 |
40 |
| 5 |
32 |
| 6 |
28 |
| 7 |
18 |
a. Convert the number of household into percentages.
b. Calculate the cumulative percentages.
c. Construct a histogram with familiarity on the x-axis and frequency on the y-axis.
d. Calculate the mean, median, and mode of the distribution.
Question 2- Use the product from your launch plan.
1- Complete the attached feature-benefit-value (FBV) chart. Include brand as a feature. Add rows if needed.
2- The FBV chart provides the ‘perceived value' price. The choices for setting the introductory price of your product are (1) skimming price (significantly higher than perceived value price), (2) penetration price (significantly lower than perceived value), or (3) perceived value price. Identify one of these three pricing strategies and provide the monetary price (one value, not a range) that you would recommend for your product. Explain why you are recommending this pricing strategy in one paragraph.
| Feature |
Benefit |
Value to typical TM Customer ($) |
% of Price |
| Brand |
Reliability |
1,000 |
11 |
| Medicine prescriprion(new) |
never mistake |
3,000 |
33 |
| Anytime |
daytime/night |
1,000 |
11 |
| Simple |
easy to use |
2,000 |
22 |
| Convenient |
one stop place, No third party |
2,100 |
23.1 |
|
Total List Price = |
9,100 |
100 |
Attachment:- Assignment.rar