Answer: E- understanding your customer
Explanation: Marketing Research is the ability of an organisation to dig deep into its process of marketing and identifying problems that might affect the future of the organisation.
Most organisation do not take marketing research serious thereby cutting any budget set aside for this purpose. For a marketing research to be effective, there are processes to be followed and they are:
1. Identifying the problem
2. develop a marketing research plan
3. collect all relevant data
4. Analyse all data and report the findings
5.put your findings into action
I believe the answer id D) all of the above.
the reason for this is because when you want to learn a skill you want to be able to actively know the skill and use it at will. you also need to be able to do it in an efficient manner and you also need to understand why you need this skill and why it is important for you to learn it.
i really hope this helped and have a nice day :)
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If the quantity supplied by producers is relatively insensitive to price changes, supply is price inelastic.
Inelastic demand is demand for which the change in quantity demanded is small due to changes in price. Demand is elastic if the formula yields an absolute value greater than 1. In other words, quantity changes faster than price. If the value is less than 1, demand is inelastic.
For example, consumers are less price relatively insensitive if the product or service is unique or has few alternatives. Consumers are less price sensitive when total costs are low relative to total revenues. The total effort compared to the total cost of the final product also influences price sensitivity.
Learn more about price inelastic at
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<em>Your question is incomplete. please read below to find the full content.</em>
If the quantity supplied by producers is relatively insensitive to price changes, supply is ______. Multiple choice question.
price inelastic.
quantity demanded.
relative price increase.
change in price.
<span>a. not counted as part of the labor force</span>
Answer:
Market Power
Explanation:
Market Power is the ability of firms to raise price above the level of perfect competition price. Perfect Competition charge Price = Marginal Cost, Imperfectly, other imperfect markets charge price > MC.
This power is used by imperfect market structures - monopoly, oligopoly, monopolistic competition. They can use this power because - they have control over market price, as they comprise a significant part of market supply. Eg : Monopolies usually use 'artificial scarcity' model to maintain a surplus in market & charge higher prices.
