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Aleonysh [2.5K]
1 year ago
12

Because Brianna loves Chinese food, she was eager to check out a new Chinese restaurant. The restaurant had undertaken a large-s

cale promotional campaign, with television commercials, glossy magazine ads, and large billboards. However, when she talked to two of her friends, they told her the service was terrible and quality was poor. Based on these recommendations, Brianna decided it was not worth it to try out the restaurant. The Chinese restaurant failed to realize the importance of _______.
Business
1 answer:
Lana71 [14]1 year ago
6 0

The Chinese restaurant failed to realize the importance of "word-of-mouth marketing."

<h3>What is word-of-mouth marketing?</h3>

Whenever a consumer's interest inside a company's service or product is reflected in their regular conversations, this is referred to as word-of-mouth marketing (also WOM marketing). Basically, it is free promotion brought on by consumer experiences, which are typically above and beyond their expectations.

Some key features regarding word-of-mouth marketing are-

  • Word-of-mouth marketing occurs when customers recommend a business's goods or services to their friends, relatives, and other people they value highly.
  • WOM marketing is among the most effective kinds of advertising since 88% of consumers prefer suggestions from their friends than those in traditional media.
  • By exceeding customer expectations with a product, delivering first-rate customer service, and providing consumers with insider knowledge, businesses can promote WOM marketing.
  • The finest word-of-mouth marketing methods, according to Word of Mouth Marketing Association (WOMMA), are sincere, credible, sociable, repeatable, measurable, and respectful.

To know more about the word-of-mouth marketing, here

brainly.com/question/15472521

#SPJ4

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Alternatively, use the combination formula, 
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4 years ago
A bank quotes a stated annual interest rate of 4.00%. If that rate is equal to an effective annual rate of 4.08%, then the bank
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Answer: Quarterly

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Annual interest rate = 4.00%

Effective annual rate = 4.08%

To know if the bank is compounding interest daily or quarterly goes thus:

Effective Annual rate can be calculated using:

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For Quarterly EAR, this will be:

= (1+4%/4)^4 - 1

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6 0
3 years ago
Company acquired a new truck at at cost of $52,000 on January 1, 2019. The truck is expected to be used for 4 years and have a s
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Answer and Explanation:

The computation is shown below:

= (Original cost - residual value) ÷ (useful life)

= ($52,000 - $8,000) ÷ (4 years)

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= $11,000

In this method, the depreciation is same for all the remaining useful life

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b.  The depreciation expense for 2020 is $11,000

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d. The accumulated depreciation for year 2020 is $22,000 ($11,000 + $11,000)

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Goldfarb Company manufactures and sells toasters. Each toaster sells for $24.15 and the variable cost per unit is $16.30. Goldfa
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Answer:

$7.85

Explanation:

Provided that

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Total fixed cost = $25,400

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By deducting the variable cost per unit from the selling price per unit we can find out the contribution margin per unit

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