Jack is making an assumption while john is making a believable excuse
With prestige products and services, a higher price might lead to a greater quantity sold, but only up to a certain point.
A product is something that can be supplied to a market in order to satiate a customer's need or desire. In case of marketing, a product is an item or service which is made accessible for consumer utility in response to their demand. Products are also sometimes found in form of merchandise in the retail sector, or they are purchased as raw materials and then made into finished things in the manufacturing sector. The most common types of commodities are basic materials which includes metals or agricultural goods, but can also include anything that is readily available in the open market.
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Answer:
If the products are sold seperately they would sell for $100,000:
Software $70,000 = 70%
Technical Support $30,000 = 30%
Sarjit Systems sold the software for $80,000
Software 70% of 80,000 = $56,000
Technical Support 30% of 80,000 = $24,000
We will record technical support as deferred revenue since the customer pays for the support upfront before receiving the service.
The journal entry would be:
Account Title Debit Credit
Cash 80,000
Sales Revenue 56,000
Deferred Revenue 24,000
In the infamous Coke-New Coke taste test, 54 percent of consumers, using a blind taste test, preferred the New Coke formula to the existing formulation. This is an example of a Survey marketing research method.
The systematic collection, recording, and analysis of qualitative and quantitative data about problems related to the marketing of goods and services is known as marketing research. The objective is to determine and evaluate how shifting aspects of the marketing mix affect consumer behavior.
Although there are numerous ways to conduct market research, the majority of companies employ one or more of the following five fundamental techniques: surveys, focus groups, in-person interviews, observation, and field tests. Which strategies you use for your organization will depend on the kind of data you require and how much money you are willing to pay.
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Well, the price would increase by 1 dollar, so the shortage would be 2 less.
