The type of information the marketing manager needs to monitor to judge the plan's successful implementation and strategic effectiveness are profits, customer relations, sales information, and competitor reactions.
A marketing strategy is one whose objective is to position the company in relation to competitors, through the creation of value that will help attract and retain consumers.
There are several tools that can help shape an organization's marketing strategy, such as:
- The 5 P's of marketing.
- SWOT Analysis.
- CRM.
Therefore, the manager must monitor profits, company-customer relationships, sales, and competitor reaction to judge the success of a marketing plan, which should generate value and market leadership for an organization.
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<span>The corporation was trying to determine the price that would bring in the most money.
The pricing of the product will be determined by several main factors such as the total cost to create the products , the situation with competitors, the rarity of the products, and the predicted average earnings that their target consumers had,</span>
Answer:
Interest rates would rise.
Explanation:
There would be a decrease in the amount of loanable funds borrowed.
if the government were to increase the tax on interest income, a reduction in the amount of funds borrowed would happen because the cost of borrowing would then become higher and people would have to pay more than they would have paid for every amount borrowed
This doesn't seem to be a question, but rather, a statement.
Answer: 1. A - Describe how the individual pursuit of self-interest works to promote the interest of the public as a whole
2. A- Both Adam Smith and Karl Marx believed that humans are motivated by self-interest
Explanation:
1. According to Adam Smith who is known as the father of modern economics stated in his thesis that individual's self-interest and freedom of production as well as consumption is in the best interest of the society as a whole.
Each Individual's free exchange creates signals about which goods and services are valuable. These signals will spontaneously direct competing consumers, producers, distributors, and intermediaries—each pursuing their individual plans— to fulfill the needs and desires of others.
Smith’s invisible hand became one of the primary justifications for an economic system of free market capitalism.
2. Pairing that best describes Adam Smith's view of human motivation in a market economy and Karl Marx's view of human motivation in a communist economy: Both Adam Smith and Karl Marx believed that humans are motivated by self-interest as they both believe that the economy is a capitalist economy that all its good and services are in the hands of private individuals.
