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Pepsi [2]
3 years ago
13

The retail mall owner told a marketing researcher, "We have the option of staying open late twice a week or opening up an hour e

arly every day. We need to know which will be most profitable since we cannot do both. The decision must be made in 11 weeks and we only have $10,000 budgeted for this research project." In which step of the marketing research process would the owner determine this budget and time frame
Business
1 answer:
Alborosie3 years ago
4 0

Answer:

develop your research plan

Explanation:

The five steps in the marketing research process are:

  1. Define the problem (or opportunity)
  2. Determine your research design
  3. Develop your research plan: during this step you design your research tool, e.g. questionnaires, focus groups, etc. You must also prepare a budget that covers the costs of carrying out your research plan.
  4. Collect relevant data.
  5. Analyze data.
  6. Visualize data and report findings.
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Consider luxury weekend hotel packages in Las Vegas. When the price is $250, the quantity demanded is 2,000packages per week. Wh
konstantin123 [22]

Answer:

The elasticity is about 1.43, and an increase in the price will cause hotels' total revenue to decrease

Explanation:

The formula of the midpoint for the variation of the quantity is  \frac{Q2-Q1}{(Q2+Q1)/2} *100 and for the price is \frac{P2-P1}{(P2+P1)/2} *100. With the variation of the price and the quantity the elasticity formula is ΔQ/ΔP. Replacing the elasticity is -1.43

The price elasticity of the demand is bigger than 1, that means that the demand is elastic, every increase of the price will cause a bigger decrease of the quantity, the revenue will drop because the increase of the price do not compansete the decrease of the quantity.

6 0
3 years ago
Jane Hernandez owns and operates a women’s clothing shop. Her product mix
natulia [17]

Answer: Our group will suggest strategy of Contraction of product mix

<u>Explanation:</u>

Our group will suggest a contraction of the product mix strategy. As per this strategy, we can eliminate one or more product lines or product items from the product mix. This will contract our product mix. The products like medical uniforms and women jeans which are having no sale and are not profitable now can be eliminated.

A company can target the customer for those products which are still in the product mix.

8 0
2 years ago
A decrease in the supply of dollars on the foreign exchange market, all else equal, will result in:
Maurinko [17]

Answer:

a. appreciation of the U.S. dollar and depreciation of the foreign currency.

Explanation:

When the supply of us dollars fall, demand for US dollars would be greeter than the supply, the value of the US dollar would rise.

I hope my answer helps you

8 0
2 years ago
The main monitoring and controlling tasks performed as part of project ____ management include monitoring and controlling projec
Vinil7 [7]
I believe it would be scope
4 0
3 years ago
If your job at the company is to improve existing products, you are probably using the ________ strategy.
ryzh [129]

If your job at the company is to improve existing products, you are probably using the development strategy.

<h3>What is the development strategy?</h3>

This is the term that is used to do with the actions that would involve the research and the identification of the strategic options in the business. It has to help in such a way that it would provide the resources that would help in the achievement of objectives.

Hence we can say that If your job at the company is to improve existing products, you are probably using the development strategy.

Read more on development strategy here: brainly.com/question/27801561

#SPJ1

6 0
1 year ago
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