Answer:
functional.
Explanation:
The functional value can be perceived by the customer as a type of value that is related to the benefits and utility that a good or service will bring to satisfy his needs.
Therefore, improving the quality of the goods and services produced will increase their functional value.
Increasing the quality of goods and services may be a relevant competitive strategy for a company to achieve market advantages, since in the purchase decision process, the consumer will analyze the options on the market and choose the one that best satisfies their needs in relation to functional value of the product or service.
Answer:
The marginal utility of chili must be 28.57 for the consumer to maximize total utility.
Explanation:
The marginal utility of chili at which the consumer maximizes total utility can be calculated as follows:
Let:
CCHIP = Cost of a bag of chips = $1.75
MUCHIP = Marginal utility of a bag of chips = 20
CCHILI = Cost of a cup of chili = $2.50
MUCHILI = Marginal utility of a cup of Chili = ?
The condition for the utility maximization of the consumer is as follows:
MUCHIP / CCHIP = MUCHILI / CCHILI ……………………………. (1)
Substituting all the relevant values into equation (1) and solve for MUCHILI, we have:
20 / 1.75 = MUCHILI / 2.50
(20 / 1.75) * 2.50 = MUCHILI
MUCHILI = 28.57
Therefore, the marginal utility of chili must be 28.57 for the consumer to maximize total utility.
The scenario illustrated by the company is related to promotion in marketing mix.
<h3>What is promotion?</h3>
It should be noted that promotion is the marketing communication that's used to inform the audience about a good.
In this case, since the companies use online advertising campaigns and contests to help develop better goods, services, or ideas. This depicts promotion.
Learn more about marketing on:
brainly.com/question/25754149
Answer:
Parietal, temporal
Explanation:
The parietal association area is responsible for perceiving and attending to stimuli, and the temporal association area is responsible for identifying them.
Answer: $75
Explanation:
After deduction all expenses and taxes, the balance left either at hand or in bank is the discretionary income.
