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3 years ago

Before conducting marketing research, it is important to establish in advance exactly what problem needs to be solved

1 answer:

4 0

<span>Prior to conducting market research, it is necessary to have a question in mind that the market research will seek to answer. For example, a coffee company may want to understand how best to raise their sales, but first must understand who their target demographic is. This will tell them who is primarily interested in their product, and which demographic they need to focus their marketing on. The market research will seek to find which genders, ages, nationalities, etc, are most interested in that particular coffee.</span>

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Brandy and Teri are competitors in the bakery business in a small wealthy upscale resort town. Brandy recently negotiated a cont

Flauer [41]

Answer:

b. False

Explanation:

In a competitive environment, pricing strategy is one of the strategies to ensure efficiency and profitability. But lowering of prices at the expense of deterioration in the quality of product offerings cannot be a recommended strategy.

The four competitive strategies specified by Michael Porter are namely, Cost Leadership, Differentiation, Cost Focus and Differentiation focus.

Under Cost leadership, a firm strives to offer it's products at the lowest cost and be the cost leader in an industry.

Differentiation refers to adding unique attributes and values to the products which differentiates such products from those of the competitors.

Cost focus refers to cost leadership when targeted at a particular marketing segment and similarly, differentiation focus is differentiation when applied to a specific marketing segment.

A firm cannot focus at price at the expense of quality of it's offerings. Thus, keeping prices down isn't all which matters.

4 0

3 years ago

Sheffield Corp. purchased machinery for $381,150 on January 1, 2018. It is estimated that it will have a useful life of 10 years

aniked [119]

Answer:

Accumulated depreciation balance on 31 December 2019 = $73,326

Explanation:

Total Cost of the machine = $381,150

Salvage value = $18,150

Therefore value to be depreciated = $381,150 - $18,150 = $363,000

Life of asset = 10 years.

Units to be produced = 290,400

Working hours = 25,000

Under the units of output activity method the asset shall be depreciated based on output, but here the output of machinery is 25,000 hours in its life thus, depreciation shall be charged based on number of hours and not on units.

Therefore accumulated depreciation on December 31 2019 shall be based on total hours of 2018 and 2019

= 2,650 + 2,400 = 5,050 hours

Depreciation = $\frac{363,000}{25,000} \times 5,050 = $73,326$

Accumulated depreciation balance on 31 December 2019 = $73,326

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3 years ago

Many people think that marketing and advertising are one and the same. While advertising is indeed part of marketing, it is only

Katen [24]

Answer: Option B

Explanation: In simple words, marketing refers to the set of activities that are performed by an organisation to attract the customers to buy the offered product or service. It involves interacting with the customers , either directly or indirectly, using various methods and make them aware of the products that the company is offering in the market.

Advertising, delivery, rebates and discounts are some of the many examples of marketing tools which a firm uses to enhance its demand. Providing after sales service so that customer would have positive experience and strong customer base could be maintained is also a part of marketing activity.

Marketing focuses on satisfying customers and not financing the operations or providing appropriate returns to investors.

3 0

3 years ago

How does a company's use of social media reflect audience-centered communication?

MA_775_DIABLO [31]

Answer:

There is an explanation of why the social media is so important today in the terms of communication regarding the marketing strategy in the companies below.

Explanation:

To begin with, nowadays the with the use of internet and more importantly the social media the companies have to adapt their strategy of communication according to the marketing theory in order to reach to the target audience who are the ones that will provide them with all of their primary profits when they sell. So that is why that social media has become one of the base aspects in which the company has to develop itself and try to to get better at it so that they could approach the consumers with that media of communication that is truly quite effective with the young consumers in the present time. Therefore that the social media reflects the most of the proper communication with the younger consumers nowadays, because it is a fundamental use of every day life for them.

4 0

3 years ago

Suppose the government decides to issue a new savings bond that is guaranteed to double in value if you hold it for 24 years. As

Alexxandr [17]

Answer:

a) 2.93%

b) $77.28

c) 5.68%

Explanation:

the picture attached below shows the explanation

4 0

2 years ago