Answer: $75.33
Explanation:
First find the total costs of a round of golf for the entire season:
= Fixed costs + Variable costs
= 30,000,000 + (17 * 600,000 rounds)
= $40,200,000
They would like to earn 10% on 50,000,000 which is $5,000,000
The revenue should therefore be:
= Costs + Expected return
= 40,200,000 + 5,000,000
= $45,200,000
Price per round to achieve this:
= Revenue / Rounds of golf
= 45,200,000 / 600,000
= $75.33
Answer:
Determining that smartphone apps and social media aps are important parts of a bank's future plans to reach young consumers. ⇒ <u>New Product Strategy.</u>
Tweeting out the availability of a new smartphone app that helps young professionals manage their financial lives better. ⇒ <u>Product launch.</u>
Inviting younger "fans" of the bank's social media sites to have a free trial of the new smartphone app. ⇒ <u>Test marketing. </u>
Having a Faceb-ook discussion with consumers on what they would ideally like to have from a bank smartphone app. ⇒<u> Idea generation.</u>
Creating a prototype of the smartphone app. ⇒<u> Product development. </u>
<u></u>
Using Tw-itter to ask followers what they are willing to pay for smartphone apps. ⇒ <u>Business analysis. </u>
Developing a social media site that allows college students to review and provide feedback on new product ideas. ⇒<u> Idea screening. </u>
Solving: 420+296 = 716
716/(1-.21) = 906.33
Answer: $906.33
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