Answer:
False
Explanation:
Forgetting curve depicts how a person tends to forget about a particular information over time when there is no attempt to retain it.
Normally memory retention declines over time without repetition.
The lower the forgetting rate of customers associated with a brand the lower the number of repetition required to retain the information.
When rate of forgetting is high customers easily forget about the product. So there is need for higher repetition to keep the information fresh in their minds.
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.
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Direct costs are easily measurable and are tangible
Answer: $5,000
Explanation:
The hospital bill reached $100,000. It will then be first subject to the deductible of $500 per year.
Adjusting for that will give us,
= 100,000 - 500
= $99,500
This is the net amount payable
Then we calculate the Coinsurance cost of 10% to the person for the stay in the hospital.
We will have,
= 99,500 * (0.1)
= $9,950
$9,950 is what the person is supposed to pay but because the individual out-of-pocket MAXIMUM payment is $5,000, they pay that Maximum.
Therefore $5,000 is how much the person pays out-of-pocket for their care in this situation.
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If there is a good that is consumed almost entirely by children, a significant reduction in the birth rate would <u>move its demand curve to the left</u>.
<h3>What is a demand curve?</h3>
Basically, a demand refers to the quantity of a good that consumers are willing and able to purchase at various prices during a given time. For this demand, the curve is a sort if graphical representation of the relationship between the price of a good or service and the quantity demanded for a given period of time such as a year.
When the demand curve move to the left, this indicates a decrease in demand because the consumers are purchasing fewer products for the same price. Some other causes are when Consumers spend less because the cost of living is rising or because government taxes have increased or decide to spend less and save more if they expect prices to rise in the future.
In conclusion, when there is a good that is consumed almost entirely by children, a significant reduction in the birth rate would move its demand curve to the left.
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