Homework 4
Assigned 9/20/12
This is a medium homework, which counts 2/3 as much as a large homework
Hard copy due beginning of class on
9/25/12
Motivation
For your first Important Email project you will conduct a feasibility analysis for an actual technology that can determine whether or not a steak is tender. Thus, understanding branded beef and innovation in beef products will instill an appreciate for the type of analysis the Important Email requires. Also, one of these sources will provide you with cost data you will need to write your Important Email.
Instructions—Type answers to the following questions, and do not delete the question from your homework. As usual, you will be graded on the accuracy, completeness, and intelligence of your answer, but I will not be picky about the technical aspects of your writing.
(Part A) Listen to the recent Planet Money podcast titled, "Can You Patent A Steak?," available at http://www.npr.org/blogs/money/2012/08/31/160391850/episode-399-can-you-patent-a-steak. You can also subscribe to Planet Money in iTunes.
(A.1) Type one full paragraph describing what the podcast was about, mentioning various parts from the beginning to end to communicate you listened to the entire podcast. If you tell me enough that I truly believe you listened to it, and the narrative does not sound suspiciously similar to another student, you have done your job.
(A.2) Then write another full paragraph describing the part(s) of the podcast you felt was most interesting.
(Part B) Read this magazine article to answer the following questions using one to three complete sentences.
(B.1) When we say "branded" beef, what do we mean?
(B.2) What are the benefits of branding a beef product?
(B.3) What types of costs are involved with branding a beef product?
(B.4) What percent of shoppers prefer the taste of Guaranteed Tender (GT) steaks relative to tough steaks?
(B.5) What is the cost of identifying GT rib-eye steaks, on a per pound basis.
(B.6) Roughly speaking, how much more are people willing to pay for safer beef that undergoes steam pasteurizatoin or irradiation. This answer requires a number or two, and a description of what those numbers mean.
(B.7) In surveys of consumers, what are the top four attributes driving steak purchases?
(B.8) In surveys of consumers, what is the most important beef safety concern?
