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2 years ago

Knowing what of the product life cycle a product is in helps marketers make intelligent and efficient marketing decisions?

1 answer:

4 0

Knowing what stage of the product life cycle a product is in helps marketers make intelligent and efficient marketing decisions.

<h3>What is the product life cycle?</h3>

The stages that a product goes through as it enters, establishes itself and leaves the market are defined by the Product Life Cycle (PLC). The product life cycle, in other words, outlines the stages that a product is likely to go through. Managers can use it to examine their products and create plans as they move through different stages.

When a product is first introduced to the market, a company frequently faces higher marketing expenses; nevertheless, as product adoption rises, more sales are realized.

When a product's adoption matures, sales stabilize and peak, however they may decline due to competition and obsolescence. When making business decisions, from pricing and advertising to expansion or cost-cutting, the idea of product life cycle might be helpful.

To learn more about the product life cycle, visit:

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$6,000.00 - ($2,050.00 - $750.00) =

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3 years ago

Concentration ratios measure the Group of answer choices geographic location of the largest corporations in each industry. degre

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percentage of total industry sales accounted for by the largest firms in the industry.

Explanation:

The concentration ratio calculated the market share percentage for an industry and the same is held by the larger firms inside the industry. Also it determined the total output that could be generated from the number of firms in the industry

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3 years ago

The balance in the prepaid insurance account before adjustment at the end of the year is $27,000. Journalize the adjusting entry

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Answer:

(A) Debit Insurance expense $20,250

Credit Prepaid insurance $20,250

Being entries to recognize insurance amortization expense for the year.

(B) Debit Insurance expense $20,250

Credit Prepaid insurance $20,250

Being entries to recognize insurance amortization expense for the year.

Explanation:

Prepaid insurance account before adjustment = $27,000

(A) the amount of insurance expired during the year is $20,250

To account for the expired amount,

Debit Insurance expense $20,250

Credit Prepaid insurance $20,250

Being entries to recognize insurance amortization expense for the year.

(B) the amount of unexpired insurance applicable to future periods is $6,750

Amount expired = $27,000 - $6,750

= $20,250

To account for the expired amount such that the amount of unexpired insurance applicable to future periods is $6,750,

Debit Insurance expense $20,250

Credit Prepaid insurance $20,250

Being entries to recognize insurance amortization expense for the year.

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3 years ago

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In the competitive market barriers to entry will be low as there is no monopoly. The firms in the market are experiencing increased profitability as a result of increased demand so the market will be attractive for new firms. This will result in new firms entering into the market. In the short run.

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3 years ago

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3 years ago