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ale4655 [162]
3 years ago
10

The new CEO of a struggling cell phone service provider is trying to revitalize the company by revamping its business strategy.

The CEO surveys the current service provider market and sees that there are a few large companies with similar business models: customers are required to chose from a limited number of plans, and are then locked into those plans for at least two years by contract. In order to even enter into a contract with the service provider, the customer must have proof of a steady income and be able to pass a credit check. The CEO sees that many individuals in the 15 to 24-year-old age bracket cannot meet these standards and are not being served by the larger companies. She decides to make her company unique by offering no-contract, pay-as-you-go cell phone service. Customers do not need to pass a credit check or provide proof of income in order to sign up for service, and can discontinue service at any time.​According to this scenario and your knowledge of marketing strategies, which statement best explains the new CEO's actions?​A. ​The CEO felt sorry for people with bad credit because other cell phone companies were not meeting their needs, so she decided to create a company that did.B. ​The CEO wanted to make an alternative cell phone service available for indecisive people who disliked the contracts and plan choices required by other companies.C. ​The CEO created a business plan that would target the low-income market, knowing she could take advantage of the fact that other companies require proof of income.D. ​The CEO decided to create a unique business plan even though it would not meet the needs of the majority of the population, just so that her company would stand out.E. ​The CEO realized that the youth segment of the market was not being served and decided to fill that niche in the business by creating a business plan that targeted it.
Business
1 answer:
Sever21 [200]3 years ago
5 0

Answer:

The CEO concluded that the youth market segment was not being served and for that reason he decided to fill that niche in the business by creating a business plan that took it into account.

Explanation:

A market niche is a marketing term used to refer to a portion of a market segment in which individuals possess homogeneous characteristics and needs, and the latter are not entirely covered by the general market offer.

The market niche is based on recognizing in the segmentation a new business opportunity arising from unsatisfied needs and then being economically exploited by a company, but it may also be because there are not enough companies to supply that need. As for a niche market we must understand certain basic things to be able to have a fruitful activity, one of those is that this must be broad enough to derive a business from it and another aspect to consider is that we must know if there is something competition, the latter is not necessarily something negative since we will know that there is already a public and therefore a demand.

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The ________ statement of a business report provides a clear description of the situation that created the need for the report.
Blababa [14]

Answer:

Problem statement

Explanation:

Problem statement - it is referred to as the statement that given the clear and crystal information about the current situations. it is considered a good source of analyzing the real situations about the ongoing project.

This statement describes the current situations between the current and desired aim of the projects. it expressed the problem in two or three statements.

3 0
3 years ago
When a company exchanges 200 shares of stock worth $20 each for 100 shares worth $40 each, they are using?
Stels [109]
When a company exchanges 200 shares of stock worth $20 each for 100 shares worth $40 each, they are using reverse stock split. 
A reverse stock split is a corporate action in which a firm or a company reduces the number of shares it has outstanding by a set multiple. For example, if a company announces a reverse stock split of 1:50, this means that once the split occurs investors will receive one share for every 100 shares they own.
6 0
3 years ago
Martin wants to provide money in his will for an annual bequest to whichever of his living relatives is oldest. That bequest wil
strojnjashka [21]

Answer:

$300,00

Explanation:

In a situation where the interest rate is said to be 10% the amount that Martin must provide in order to fund this​ bequest will therefore be:

Bequest first year $9,000/(Interest rate 10%-

Increase of 7 ​% per​ year)

Hence:

$9,000/0.03

=$300,000

Therefore $300,00 will be provided to fund the bequest

5 0
3 years ago
What is a standard of living?
mezya [45]

Answer:

The degree of wealth and material comfort available to a person or community.

Explanation:

How nice the way they live their life is

7 0
3 years ago
A local family-run Greek restaurant has been a part of the community for twenty years. Their mission is to provide local, fresh,
Furkat [3]

The correct answer to this open question is the following.

Although there are not options provided, we can say that some additions that could be implemented which are aligned with this company’s values are the inclusion on the menu of organic food, vegan food, and kosher products so all kinds of customers can find a good option in the restaurant.

Another important thing is the way to market and communicate their innovations to consumers. In college, the son should have learned that the way a restaurant markets its products and services is as important as the kinds of food it offers.

8 0
3 years ago
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