mikes bikes
Which report will provide you with an estimate of your Net Income for next year?
Forecast Results Reports Overview
Using the above information and the example in Video 2: Making your first year decisions; for the Mountain Bike market, which of the following Advertising Mix options is the most effective use of a Total Advertising Budget of $1,000,000?
TV: $300,000; Internet: $0; Magazines: $700,000
In which of the following situations could you decrease your Retail Margins?
You have significantly increased consumer demand through an effective marketing campaign
In which of the following situations should you increase your Sales Forecast for the year ahead?
Your Actual Units Sold was greater than last year's Sales Forecast
What would cause you to have Closing Inventory in Stock from a previous year?
Your Production Quantity was greater than Actual Units Sold
Which report would you view to see the Gross Margins (how profitable) each of your products were last year?
product summary
Which market segment values technical specifications over style?
road
Factory Plant costs $200 per Standard Capacity Unit (SCU). How much will it cost to purchase an additional 5,000 SCU?
$1,000,000
If your Retail Price is $750 and the Retail Margin is 34%, then your Wholesale Price is
$495
What would be an acceptable price for a Mountain Bike and how many units could you expect to sell annually?
$720 and 20,000 units
In MikesBikes the capacity of your factory is measured in Standard Capacity Units (SCU). How many SCUs are required to produce one Mountain Bike?
0.50 SCU
In MikesBikes the capacity of your factory is measured in Standard Capacity Units (SCU). What is the total capacity of your factory before making any adjustments (as seen in Video 4: Making your third year decisions)?
20,000 SCU
In Video 3: Making your second year decisions, which report(s) should you review after each rollover?
All of the above
What factors must you consider when determining your Sales Forecast?
All of the above
The Market Summary report lists all the products selling in each market of the industry, comparing each based on key performance metrics. Which index would we review the effectiveness of our Advertising decisions from last year?
Awareness Index
According to Video 3: Making your second year decisions, what benefit does Corporate Branding have on your individual products?
Boosts the Awareness Index for all of your products
According to Tutorial Video 1: Overview of MikesBikes, which best describes consumers in the Mountain Bike segment?
Customers who are fit and active who want robust, functional and quality bikes
Which area of your company does Efficiency expenditure effect?
Decreases Factory Wastage
On the Market Summary report, which index would we review the effectiveness of our Retail Margin and Extra Support decisions from last year?
Distribution Index
What new decisions are available from Year 2 of the MikesBikes simulation?
Distribution and branding
Product Contribution is a measure of how profitable each of your products was last year by taking your Sales Revenue, Less Cost of Goods Sold to find the product's Gross Margin. Which report would you view to see the Gross Margins (how profitable) each of your products were last year?
Industry Benchmark Report
What are the new decisions available from Year 3 of the MikesBikes simulation?
Manufacturing & Debt
Is your MikesBikes company a Retail Company or a Manufacturing Company?
Manufacturing Company
What are the market segments described in Tutorial Video 1: Overview of MikesBikes?
Mountain Bike Market, Road Bike Market and the Youth Bike Market
Consumers in the Mountain Bike segment have which of the following buying sensitivities:
Price Sensitivity: Medium. Advertising Sensitivity: High. PR Sensitivity: Low.
What decision areas are you responsible for in the first year of the MikesBikes simulation?
Pricing and Promotion
Your overall performance in MikesBikes is represented by your Shareholder Value (SHV). SHV is largely determined by what?
Profitability
In which market segment are consumers most responsive to an improvement in your Quality Index?
Road Market
According to Tutorial Video 1: Overview of MikesBikes, what term is used to describe the process in MikesBikes where the simulation moves forward to the next year
Rollover
In Video 2: Making your first year decisions, Lost Sales on the Market Summary Report are defined as?
Sales which your company would have made if you had produced enough units to meet demand
Which form of distribution channel is the most effective for the Mountain Bike segment and roughly what percentage of customers shop there?
Sports Stores and 60% shop there
Which report tells us about new developments and things to focus on for the coming year?
The Year Ahead Report
In which of the following situations should you increase your Factory Capacity by purchasing additional SCU?
You are unable to produce the quantity of bikes required to meet your sales forecasts
The Mountain segment has a _____ sensitivity to Quality
medium
If you increase your Factory Capacity (total SCU), will you need to spend more or less on Efficiency and Quality?
more
How many products does your company have in the first three years of the MikesBikes simulation?
one