Answer:
Yield pricing
Explanation:
Yield control refers to the variable pricing model based on knowing, forecasting and manipulating consumer preferences to optimize a set, moment-limited resource's sales or income.
As a particular stock-focused sales control division, yield management includes competitive inventory support in order to deliver the right model to the right buyer at the perfect time for the correct price.
Yield management is multidisciplinary, as it combines marketing, procedures and money management aspects into a new strategy that is extremely successful. While planning and executing yield management techniques, yield management analysts often need to collaborate alongside one or more divisions.
A running shoe manufacturer is weighing whether to purchase leather from a cheaper supplier in order to compete with lower priced competitors.
Answer:
The correct answer to the following question will be "Cost leadership strategy".
Explanation:
In the corporate strategy, cost leadership provides a strategic advantage of having the cheapest operating costs in the market.
Cost management is sometimes driven by market performance, cost, volume, complexity, and collective experience.
Summary of Advantages of Cost Leadership, such as:
This makes better income for the boss and the organization.This can increase the market share of the company.Improves the survival of the company.It generates more resources that could be used for production.Therefore, this will be the right answer.
Which of the following is an indicator of how much output the average person would get if all output were divided up evenly among the population?
A. GDP
B. Nominal GDP
C. Per capita GDP
D. Real GDP
Answer:
C. per capita GDP
Explanation:
Per capita income is the average income earned per person in a country during a specified period of time . It is the measure of a country's Gross domestic products against its total population.
Per capita GDP is a measure of a country's economic output that accounts for its number of people. It divides the country's gross domestic product by its total population. it a good measurement of a country's standard of living. It tells you how prosperous a country feels to each of its citizens.
It is calculated by dividing the total GDP of a country by its population
therefore going by the question and the explanation given the best possible answer is C. Per capita GDP
A client reporting recent right eye discomfort is diagnosed with chalazion of the right eye. The nurse reinforces instructions to the client regarding care to the eye. Which statement by the client indicates an understanding of the measures?
Answer:
"I should apply warm packs to my eye"
Explanation:
First and foremost what kind of infection is a Chalazion
A chalazion represents a cyst or lump usually found to be growing slowly within one's eyelid. The characteristic of this cyst is that it does not last for long, usually goes away after a few weeks and it is not usually accompanied by pain. Although there are occasions where it would warrant more urgent measures and treatments
One very effective way of treating or caring for the eye during the infection is to apply warm compresses to it. To do this the person should put a cloth into a bowl of warm water, wring out the water from the cloth and then apply it over the eye for a 10 to 15 minutes period.
Therefore, an understanding of the need to apply warm packs to the eye indicates an understanding of the necessary measures to be taken by the client.
John complained to his buddy, Frank, that prices have increased a lot over the past year. Frank disagreed, saying that the prices of some goods have gone up a bit, but other prices have declined, noting that you can get some good buys on houses right now. Frank feels that the average price of consumer goods hasn't changed. Frank and John can refer to the __________ to learn how government economists currently view the price situation.
A. GDP
B. CPI
C. PPI
D. MEW
Answer:
B. CPI
Explanation:
If John and Frank are confused whether that prices have increased a lot over the past year and there is lack of clarity that the average price of consumer goods hasn't changed, then Frank and John can refer to the Consumer Price Index to learn how government economists currently view the price situation.
The Consumer Price Index (CPI) is a measure that calculates the changes in the weighted average of prices of consumer goods and services, including transportation, food, and medical care.
The Bureau of Economic Analysis and Statistics of a country calculates the CPI by dividing price changes for each item by its original price.
Due to the entrance of two firms in 2012, total monthly profits for all firms in the market decreased by $3,000 due to the ________ effect and increased by $1,500 due to the ________ effect.
Complete Question:
Use the following scenario to answer the following questions:
In 2011, three firms were selling cellular phone service for a price of $40 per month in Pittsburgh, Pennsylvania. Each firm serviced 100 cell phone customers; thus, all firms together serviced a total of 300 customers. In 2012, five firms were selling cellular phone service for a price of $30 per month. Each firm serviced 70 cell phone customers; thus, all firms together serviced a total of 350 customers. Assume marginal cost is $0 (zero) for all firms and thus total revenue is equal to total profit.
Due to the entrance of two firms in 2012, total monthly profits for all firms in the market decreased by $3,000 due to the ________ effect and increased by $1,500 due to the ________ effect.
Answer:
Due to the entrance of two firms in 2012, total monthly profits for all firms in the market decreased by $3,000 due to the Price effect and increased by $1,500 due to the Output effect.
Explanation:
The effect of a transition in the value of a products or else in service on consumer spending on the economy. The price effect could also relate to the price impact of an occurrence. The price effect is the impact of replacement and revenue.
The condition where a price hike in one commodity raises the cost of output and decreases the production level of the company thus lowering prices for additional inputs; alternatively, a reduction in the cost of supply
The result is that the price exceeds marginal costs and improve production increases profit. Prices are affected by the price reduction and profit reduction of the increased production.
If a business person wants to get information about a special product to a wide variety people across a large geographic range, even globally, which of the following will be the fastest and widest ranging medium?
A. satellite
B. radio
C. Internet
D. television
The internet is the fastest and widest ranging medium to get information about a product to a wide variety of people across a large geographic range, even globally, because of its ubiquity, broad reach, and varied communication options.
Explanation:If a business person wants to get information about a special product to a wide variety of people across a large geographic range, even globally, the fastest and widest ranging medium would be the Internet. The reason is the Internet is ubiquitous and has a very wide reach. It can reach people anywhere, anytime. With options like email, social media, websites, webinars, digital marketing channels, etc., the internet offers a wide array of ways to reach a global audience. It is not only fast, but also allows for more interactive exchange of information.
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In 2005, Comcast created AZN, a television network for Asian Americans. What type of strategy did Comcast use when it found this unique group of consumers whose specific needs were not being addressed by a cable station?
Answer:
Market segmentation
Explanation:
The market segmentation strategy is that type of strategy which refers to the division of the segments based on the various dimensions like demographic, geographic, behavioral, psychographic, etc so that the needs and wants of each consumer could be satisfied.
Therefore, according to the given scenario, the most appropriate strategy is market segmentation which suites in the current situation
Dr. Sullivan is conducting a clinical trial to determine if vitamin Z can improve test performance of students in an introductory college nutrition course. Dr. Sullivan puts all the students' names in a hat and draws names to determine if they will be placed in the control or the experimental group. The experimental group receives a capsule of vitamin Z and the control group a "sugar pill" that tastes and looks identical to the vitamin Z capsule. Neither Dr. Sullivan nor the participants knows who is receiving which treatment. This experiment is BEST described as_________________.
Answer:
Double-blind, random, placebo controlled selection.
Explanation:
Relating to, or is an experimental treatment in which, during most of the honors course of the experiments neither the participants nor the experimenters recognize whose variables are in the research and control classes.Random selection relates to how the group is taken from the overall population, while the representative sample applies to how the samples are then allocated either to the trial or control groups.Placebo-controlled studies are a way to check a medical therapy during which a rotary knob sample, in addition to a community of patients undergoing the care to be tested, experiences a simulated "placebo" medication that is designed specifically to have no actual effect.Hans entered the U.S. on December 15, 2013 in F-1 immigration status. He had never been to the United States before and he did not change immigration status during 2018. For federal income tax purposes, Hans is a nonresident alien for 2018.
a. True.
b. False.
Answer:
a. True.
Explanation:
The F-1 immigration status visa allows a foreigner like Hans to pursue academic studies in the United States.
It is important to note that an F-1 status holders can work legally and earn income on-campus, through scholarships etc, and are therefore mandated to file tax returns reporting all such income and pay taxes on it.
Since Hans arrived in the United States for the first time, he can file as nonresidents for tax purposes.
A commercial for the drink SunnyD explains how nutritious it is in comparison to other, more "sugary" drinks. While children under 12 are the most likely consumers of SunnyD, the commercial is aimed at mothers. These mothers represent SunnyD's:____________
Answer:
A commercial for the drink SunnyD explains how nutritious it is in comparison to other, more "sugary" drinks. While children under 12 are the most likely consumers of SunnyD, the commercial is aimed at mothers. These mothers represent SunnyD's target market.
Explanation:
Marketing is a way in which the producer can provide information about it's goods and service to the customers. The marketing channels can either be direct or indirect depending on which strategy works best for the company. The major reason for marketing is to provide more information about the product and services to cover a larger audience. There is always potential in marketing to convert an audience to a loyal customers depending on the effectiveness of the marketing strategy. More customers usually translates to an increase in sales, and ultimately to an increase in profits. Increased profits is a reflection on business success since most companies get into competitive business to make profits. An example of marketing strategy that is often is used is target marketing.
Target marketing is a type of communication with your potential customers that involves providing more information to a select group of people in the market. This is done by tailoring the message in such a way to ensure that it is directed towards that particular group of people. In the question above, the commercial is made in a certain way to target mothers and possibly convert them to loyal customers.
Final answer:
The commercial for SunnyD targets mothers as its primary marketing demographic, emphasizing the drink's nutritional benefits over other sugary options to appeal to their concerns for their children's health. This strategy indicates an acute awareness of parents' increasing vigilance regarding children's dietary choices and health risks associated with sugary beverages.
Explanation:
A commercial for the drink SunnyD explains how nutritious it is in comparison to other, more "sugary" drinks. While children under 12 are the most likely consumers of SunnyD, the commercial is aimed at mothers. These mothers represent SunnyD's target market. Advertising aimed at children often involves colorful imagery and fun, but when it comes to products like beverages, which have been under scrutiny for their high sugar content and potential health risks, targeting mothers becomes a strategic decision. This is an attempt to appeal to the decision-makers in the household who are concerned with their children's nutrition and health. By highlighting the nutritious aspects of SunnyD in comparison to other sugary drinks, the advertisement seeks to influence mothers' purchasing decisions, thereby indirectly reaching their primary consumers - the children. This strategy reflects an understanding of the changing landscape of consumer awareness, where parents, and specifically mothers, are more vigilant about the sugar intake and overall nutritional value of the products their children consume. The advertising strategies now increasingly focus on nutritional benefits to alleviate health concerns associated with sugary drinks.
Max and mimi are using a method of birth control that requires mimi to carefully observe changes in the secretions from her cervix to predict ovulation. this couple is using the _____ method.
Answer:
TWO DAY METHOD
Explanation:
TwoDay Approach refers to the family planning approach for knowledge of pregnancy, utilizing cervical secretions to suggest fertility. A patient utilizing the TwoDay Process searches at least two times a day for cervical excretions. She perceives herself fertile when she realizes secretions of any form, texture, or consistency, either "currently" or "yesterday."
Secretions serve as a strong fertility indicator. It becomes theoretically fertile because a woman has cervical secretions, and may get pregnant through unwanted intercourse. TwoDay approach applies to people who wish to utilize a hormone-free system regardless of the duration of the cycle.
Which approach to task and job analysis is most frequently used when the organization already exists and the work behavior of the existing employees is the basis for the analysis?
Answer:
Bottom-up method
Explanation:
Bottom-up method or the approach is the one which is defined as the piecing together the systems which give rise to more systems that are complex and make the sub systems and original systems of the emergent system.
It is the kind of processing where the information is processed grounded on the incoming data from the environment to make a perception.
So, the bottom up approach is used to task as well analysis the job which is more frequently used.
what is the term for an organization that combines inputs of raw materials, capital, labor, and management skills to produce useful outputs of goods and services so as to earn a profit?
Answer:
The correct answer to the following question will be "Business".
Explanation:
Business is the practice of earning a living or making a lot of money by manufacturing or purchasing items such as products and services. Put it simply, it is "any business or business done for profit".It would be the concept for an enterprise that blends imports of raw resources, resources, workforce, and managerial skills to produce reliable outcomes of products and services to turn a profit.Therefore, Business is the right answer.
Ajax Inc. is one of the customers of a well-known linenmanufacturing company. Ajax has not ordered linen in some time, but when it did order in the past it ordered frequently, and its orders were of the highest monetary value. Under the given circumstances, Ajax is most likely to have a[n] RFM score of 511.
Answer:
False, its score should be 155.
Explanation:
RFM analysis scores customers on a ranking that goes from 1 - 5, with 5 being the best parameter (555 is the ideal customer). The factors used in a RFM analysis are recency, frequency, and monetary value.
Companies perform RFM analysis based on the idea that 80% of the company's total business comes from only 20% of its customers.
In this case, Ajax would get:
1 for recency since it hasn't purchased anything in a long time, 5 for frequency because when it used to purchase goods, they did it quite frequently5 for monetary value because they were the largest salesIf bread is an inferior good and if the price of bread increases, the income effect _____ the quantity demanded, and the substitution effect _____ the quantity demanded.
Answer:
increases
decreases
Explanation:
Whenever the price of a commodity that is perceived as an inferior good rises, because of its negative perception, it tends to now become a bit of a luxury good; and the income effect will tend to increase the quantity purchased (because when you have more income you can afford more expensive goods), while the substitution effect (which is the propensity of consumers switching to cheaper substitutes because of rise in price) will tend to reduce the quantity purchased.
Therefore, If bread is an inferior good and if the price of bread increases, the income effect increases the quantity demanded, and the substitution effect decreases the quantity demanded.
The income effect would increase the quantity demanded of an inferior good like bread when the price rises, while the substitution effect would decrease the quantity demanded since bread has become relatively more expensive.
Explanation:The student's question involves understanding the interplay of the income effect and substitution effect when there is a change in the price of a good, specifically an inferior good like bread. The income effect in economics refers to the change in quantity demanded due to the effect of a change in the price on a consumer's real income or purchasing power. The substitution effect refers to the change in the quantity demanded of a good due to a relative price change, which makes the good more or less expensive relative to other goods. In the context of an inferior good such as bread, if the price of bread increases:
The income effect would increase the quantity demanded.The substitution effect would decrease the quantity demanded.Regarding an inferior good, as the price of bread rises, individuals feel poorer, which means they might buy more of the inferior good (more bread in this case) because they cannot afford the more luxurious substitutes. However, the substitution effect would lead consumers to buy less bread because it has become relatively more expensive compared to other goods.
Nestor's has net income of $315,000, total sales of $3.52 million, total assets of $4.4 million, and total equity of $1.98 million. What is the return on equity?
Answer:
15.91%
Explanation:
The computation of the return on equity is shown below:
= (Net income - interest expense) ÷ (total equity)
= ($315,000 - $0) ÷ ($1,980,000)
= ($315,000) ÷ ($1,980,000)
= 15.91%
We simply divide the net income by the total equity so that the return on equity could be calculated
It is always expresses in percentage form.
Which is the stage in the product development process where most new product ideas are rejected because they seem inappropriate for an organization?
Answer:
Explained below:
Explanation:
It is true that it is too difficult for any organization to carry on with the existing product so before spending too much expenditure on development of new products a product passes through the various stages, at the first stage of product development process the organization calculate the ideas regarding new product development, and if the newest product idea is not appropriate for the organization due to unavailability of cost-effective production of particular product, or very lesser demand of that particular product among the customer, etc then finally at the second stage this idea regarding new product will be rejected.
Suppose a restaurant in a small community offers breakfast options 24-hours a day, however, none of the competition even offers breakfast options. This would be an example of a(n) _____ benefit.A.interpretiveB.lifetime valueC.differentialD.competitionE.superiorC.differential D. superior E. interpretive
Answer:
The correct answer is C
Explanation:
Differential is the term which is described as that the company or the business is offering a product or a service which is different in the market, different from its competitors, attract the customers.
So, in this case, the restaurant offers the service to the customers, which is offering the option of breakfast (24 hour a day) and none of the competitors offers this service. Therefore, it is an example of the differential, where the service or the product is very different or unique in comparison to others.
Within the supply chain and operations management system, the value proposition is most effectively communicated to the rest of the organization through which of the following mechanisms?
Answer:
Corporate Slogans And Promotional Materials.
Explanation:
Question: Within The Supply Chain And Operations Management System, The Value Proposition Is Most Effectively Communicated To The Rest Of The Organization Through Which Of The Following Mechanisms?
Performance Measures
Mission Statements
Management Mandates
Corporate Slogans And Promotional Materials.
Answer
Corporate Slogans And Promotional Materials are the most effective way of communicating value propositions to the rest of the organization because it communicates the business’s value proposition which is undoubtedly the most important component of the overall marketing message in a way that it tells prospects why they should proud of belonging to the organisation rather than being elsewhere, and makes the benefits of the company's products or services crystal clear to every team member from the outset.
REI has a 100% satisfaction guarantee on its items. It allows customers to return products up to one year after purchase. This is an attempt by REI to reduce what type of cost?
Answer: risk
Explanation: 100% satisfaction guarantee is a statement that if a customer of a product (or service) is not satisfied with the item purchased, then the producer will offer a full refund back to the customer. In this case REI allows this option for a period of up to 1 year after the sale was made.
REI utilises this option in an effort to reduce costs attributed to risk. For customers, this is a powerful tool as they are allowed to try the product, while knowing that if they don't like it then they can return it for a full refund. For REI, it increases customer trust as it allows customers to believe that the product is worth the sales price. It also reduces risk as REI is able to test the product out to actual customers and get a feel for if they like it, and what can be improved if needed.
The attempt by REI to reduce a specific type of cost.
Explanation:The attempt by REI to reduce the type of cost mentioned in the question is called avoidable costs. This can be seen as a cost reduction strategy where REI offers a 100% satisfaction guarantee and allows customers to return products up to one year after purchase. By implementing this policy, REI aims to minimize the potential cost associated with dissatisfied customers or returns.
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Online reviews have become increasingly important to consumers’ ability to decide to purchase items ranging from household goods to media products.
Answer:
The above statement is TRUE
Corporate decision makers and analysts often use a particular technique, called a DuPont analysis, to better understand the factors that drive a company's financial performance, as reflected by its return on equity (ROE). By using the DuPont equation, which disaggregates the ROE into three components, analysts can see why a company's ROE may have changed for the better or worse, and identify particular company strengths and weaknesses The DuPont Equation A DuPont analysis is conducted using the DuPont equation, which helps to identify and analyze three important factors that drive a company's ROE. According to the equation, which of the following factors directly affect a company's ROE? Check all that apply Price per Share Earnings per Share Sales / Total Assets Net Income/ Sales Most investors and analysts in the financial community pay particular attention to a company's ROE. The ROE can be calculated simply by dividing a firm's net income by the firm's shareholder's equity, and it can be subdivided into the key factors that drive the ROE. Investors and analysts focus on these drivers to develop a clearer picture of what is happening within a company. An analyst gathered the following data and calculated the various terms of the DuPont equation for three companies: ROE 12.0% 15.5% 21.5% Profit Margin x Total Assets Turnover x Equity Multiplier Company A Company B Company C 57.3% 58.2% 58.0% 9.8 10.2 10.3 2.14 2.61 3.60 Referring to these data, which of the following conclusions will be true about the companies' ROEs? O The main driver of company A's inferior ROE, as compared to that of company B's and company C's ROE, is its use of higher debt financing O The main driver of company A's inferior ROE, as compared to that of company C's ROE, is its higher total asset turnover ratio The main driver of company C's superior ROE, as compared to that of company A's and company B's ROE, is its greater use of debt financing
Answer:
The main driver of company C's ROE, as compared to that of company A's and company B's ROE, is its greater use of debt financing as reflected by highest equity multiplier among the three companies. So, the first option is the answer.
Explanation:
The three primary components of the ROE in DuPont analysis are net profit margin, asset turnover, and equity multiplier. The main factor affecting Company A's inferior ROE is its lower equity multiplier, while Company C's superior ROE is primarily due to its higher equity multiplier, indicating more extensive use of debt financing.
Explanation:The DuPont analysis reveals that three factors affect a company's return on equity (ROE): net profit margin (Net Income/Sales), asset turnover (Sales/Total Assets), and equity multiplier (Total Assets/Shareholder's Equity). These factors, in turn, reflect a company's operational efficiency, asset use efficiency, and financial leverage, respectively.
Reviewing the data, we can see that the main driver of Company A's inferior ROE is not its use of higher debt financing but rather its lower equity multiplier compared to Companies B and C. The equity multiplier indicates the degree to which a company is using debt to finance its assets. The lower the equity multiplier, the less reliant a company is on debt financing.
On the other hand, the main driver of Company C's superior ROE, as compared to Company A and Company B, is its higher equity multiplier, indicating greater use of debt financing.
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A hamburger factory produces 40,000 hamburgers each week. The equipment used costs $5,000 andwill remain productive for 4 years. The labor cost per year is $9,500.Note: there are 52 weeks in a year.
Answer:
This question is incomplete. However, I found the prompt to be as follows;
"What is the productivity measure of “units of output per dollar of input” averaged over the four-year period? "
Explanation:
To solve this question, find productivity;
Productivity in this case is total hamburgers produced divided by the total labor cost plus total equipment cost.
Productivity = # of hamburgers *52 weeks * 4 years / (total labor cost + equipment cost)
Productivity= 40,000(52)(4)/ {9,500(4) + 5000}
= 193.5 hamburgers/dollar of input
Therefore, the factory would produce about 194 burgers per dollar of input.
Assume that an employee of a FINRA member firm opens a securities account at another FINRA member firm. If requested, the employing member firm can request duplicate (A)confirmations only.(B)account statements only(C)confirmations and account statements(D)account forms used to open the account.
Answer:
C) confirmations and account statements
Explanation:
If an employee of a FINRA member firm wants to work for another FINRA firm, he/she must notify his/her employing member firm, and his/her new employer must send duplicate confirmations and account statements only if requested by the member employing firm. The member employing firm does not have to grant any type of approval or permission.
The Financial Industry Regulatory Authority (FINRA) regulates member brokerage firms and exchange markets. FINRA is regulated and overseen by the SEC. They issue licences to individuals and admits companies into the financial trading industry.
A company has been in business for five years. As of December 31, 2008, the company had assets of $475,000 and liabilities of $200,000. After a successful year of business in 2009, the company's assets had increased by $95,000, and liabilities had increased by $40,000. While no new investments were made into the company during 2009, a dividend of $12,000 was paid to owners. Based on this information, determine the company's net income for the year 2009.
Answer:
$67,000
Explanation:
Data provided in the question:
Value of assets on December 31, 2008 = $475,000
Liabilities on December 31, 2008 = $200,000
Increase in assets in 2009 = $95,000
Increase in liabilities in 2009 = $40,000
Dividend paid = $12,000
Now,
The company's net income for the year 2009
= Increase in assets in 2009 + Dividend paid - Increase in liabilities
= $95,000 + $12,000 - $40,000
= $67,000
The company's net income for 2009 was calculated by using the formula Net Income = Final Assets - Final Liabilities - Final Owners' Equity. After calculating owners' equity and adjusting for dividends, the net income for 2009 was found to be $-22,000.
Explanation:The subject of the question is finance, which is a component of business studies. To answer this question, we need to use the formula for calculating net income: Net Income = Assets - Liabilities - Owners Equity.
Firstly, we calculate the owners' equity as of December 31, 2008, which is the difference between assets and liabilities (475,000 - 200,000 = $275,000).
In 2009, the assets increased by $95,000 and liabilities increased by $40,000. There were no new investments, but a dividend of $12,000 was paid. So, the new owners' equity is (475,000 + 95,000) - (200,000 + 40,000) = $330,000.
Since dividends reduce owners' equity, we adjust the equity by adding back the dividends: 330,000 + 12,000 = $342,000.
Now, using the Net Income formula: Net Income = Final Assets - Final Liabilities - Final Owners' Equity, we find that the net income for 2009 is (475,000 + 95,000) - (200,000 + 40,000) - 342,000 = $-22,000.
Therefore, the company's net income for the year 2009 was $-22,000.
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When a corporation sells all or substantially all of its assets to another corporation, generally,
a. a majority of both shareholders and directors must approve.
b. one-third of the shareholders must approve.
c. fifty-one percent of the directors must approve.
d. two-thirds of the directors must approve.
Answer:
a. a majority of both shareholders and directors must approve.
Explanation:
Whenever a corporation decides to dispose off all of it's assets or substantially all of it's assets to another corporation, following points are noteworthy
The Board of directors first have to propose a resolution regarding disposition which has to be approved Secondly post approval of the said resolution, the act of "disposition" also requires approval by the corporation's shareholders.Such approval must be obtained by majority of the votes cast in it's favor.In short, disposition of all or substantially all the assets requires an approval of a majority of both shareholders and directors.
Marie, a salesperson, uses a variety of statements and questions while trying to sell products to prospective buyers. She designs the statements and questions in such a way that they elicit favorable answers from the prospective buyers until a desired result is obtained. In this scenario, Marie most likely uses _____.
a. mental state sellingb. continued affirmation sellingc. stimulus response sellingd. need satisfaction sellinge. consultative selling
Answer:
Option "C" is the correct answer to the following situation.
Stimulus Response Selling
Explanation:
Stimulus-Response Strategy- A marketing strategy that depends on the salesperson's freedom to say the right thing stimuli to get a favorable response from the buyer's answer, also referred to as the Canned Method because a template is widely used.
Marie uses a combination of statements and questions when trying to sell goods to potential buyers and tries to construct statements and questions so that the prospective buyer can receive beneficial responses.
Marie is most likely using consultative selling, which involves engaging with prospective buyers through tailored statements and questions.
Explanation:The sales technique Marie is most likely using is consultative selling. Consultative selling involves engaging with prospective buyers through statements and questions that aim to understand their needs and provide tailored solutions. It focuses on building relationships and offering expert advice to help customers make informed decisions. By designing statements and questions to elicit favorable answers, Marie is employing consultative selling to influence prospective buyers towards a desired outcome.
The substitution effect is the portion of a change in quantity demanded that is due to a change in the relative price of the good.True / False.
Answer:
True.
Explanation:
As per the substitution effect, when price of a good rises, keeping other factors and consumer's income constant, the consumer's quantity demanded of that good falls with the fall being attributable to a demand created for it's substitute.
For example coke and pepsi are both priced at 2$ apiece. The demand for coke being 5 units by a consumer. Suppose, the price of coke rises to 3$ assuming other factors affecting demand remaining constant, the consumer now demands lesser units of coke i.e 3 units of coke and 2 units of pepsi. This reduction of 2 units of quantity demanded of coke is attributable to substitution effect.
Ikea offers young customers a selection of home furnishings featuring good design, function, and acceptable quality at low prices. Ikea is using which business level strategy?
a. Cost leadership
b. Focused cost leadership
c. Differentiation
d. Focused differentiation
Answer:
focused cost leadership
Explanation:
A focused plan for cost management needs price-based rivalry to same a limited sector. A business that implements this approach will not automatically offer the industry's cheapest prices. Rather it pays low prices in competition with other firms that operate within the intended audience.
An crucial point in these techniques is that the essence of the small target audience differs throughout firms using a focused approach of cost management.
In some instances, demographics define the target group. Thus, from the above we can conclude that the correct option is B.
With current technology, suppose a firm is producing 400 loaves of banana bread daily. Also assume that the least-cost combination of resources in producing those loaves is 5 units of labor, 7 units of land, 2 units of capital, and 1 unit of entrepreneurial ability, selling at prices of $40, $60, $60, and $20, respectively. If the firm can sell these 400 loaves at $2 per unit, what is its total revenue? Its total cost? Its profit or loss? Will it continue to produce banana bread? If this firm’s situation is typical for the other makers of banana bread, will resources flow toward or away from this bakery good?
The total revenue is $800 while the total cost is $780, and the profit is $20.The firm will continue to produce banana loaves and resources will flow towards the bakery
Explanation:
The number of loaves produced by the firm=400
Selling price per unit is $2
Revenue will be: 400*$2=$800
Total cost will be calculated as;
Labor 5 units @$40 = 5*$40=$200
Land is 7 units @$60= 7*$60=$420
Capital is 2 units @$60=$120
Entrepreneurial ability 1 unit @$20=1*$20=$20
Total cost =$(200+420+120+20)=$780
Profit= Revenue-total cost= $800-$780=$20
The firm will continue to produce banana loaves because its making a profit of $20
The resources such as labor, land and capital will flow towards the business as factors of production to produce more profit.Current resources flowing to the business are good though there is room for improvements in terms of more profits.
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Flow of inputs and outputs: https://brainly.com/question/8858472
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