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2 years ago

2. What type of market is Huy Fong targeting with its sriracha sauce?

Business

1 answer:

Luda [366]2 years ago

4 0

Answers with Explanations:

1. What type of market is Huy Fong targeting with its Sriracha sauce?

"Huy Fong's Food Inc." is a company that sells Sriracha sauce made in California. It has also partnered with several companies in order to provide variety of products based on its official flavor.

Since Huy Fong is open to competition with other rivals, it is clear that the company is using the "monopolistic competition" type of market. Hung Fung is not the only company that sells sriracha sauce, other companies like Heinz and Tabasco are also selling the same sauce.

However, it has been branded as the most authentic and original of all. Such uniqueness of the Huy Fung Sriracha sauce makes it stand out from the rest. In this aspect, the company is monopolizing the competition.

2. Of the four categories of segmentation variables, which is most important to Huy Fong's segmentation strategy, and why?

Of the four categories of segmentation variables, "demographic" is the most important to Huy Fung's segmentation strategy. The company's target market are men and women who belong to the age range of 20-30 in the United States.

This is the specific population that the company is focusing on. These people are considered to be budgeting their money and in that sense, they'd be able to afford the sriracha sauce.

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$200

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3 years ago

Nash's trading post, llc issues 2000 shares of $10 par value common stock at $11 per share. when the transaction is recorded, cr

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Credit common stock by 20,000

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The par value of the share are $10 per share the number of shares are 2000 so initially we will credit common stock by (2000*10) = 20,000

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2 years ago

Which pricing tactic calls for offering three similar products, one that is lower priced and less attractive and two that are co

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Decoy pricing tactic calls for offering three similar products, one that is lower priced and less attractive and two that are comparable but more expensive.

<h3></h3><h3>What is decoy pricing?</h3>

A price strategy called decoy pricing aims to "push" customers to make a decision. Customers sometimes have to choose between products with varying costs and features while making purchases. And when a business seeks to increase sales of a certain product, it frequently chooses what is known as a decoy pricing structure to sway the consumer's choice. In this instance, the "decoy" is either a product with a slightly cheaper price but much worse quality, or a product with a significantly higher price but slightly greater quality.

The attraction effect and the compromise effect are the two distinct effects on which the decoy pricing strategy is predicated.

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1 year ago

Matt is considering the purchase of a condo on a mortgage. However, he is not sure on the amount of mortgage he is eligible for.

Rudiy27

Answer:

A. Prequalification

Explanation:

First, the Options to the Question

a. Prequalification

b. A contingency clause

c. A Multiple Listing Service

d. Due diligence

What is a PreQualification in Mortgage Processing

Because most persons who are interested in buying a home do not have hundreds of thousands of dollars in cash to purchase the home of their dreams, the concept of mortgage is to approach a lender who will then advance the needed sum for the purchase and then the borrower will pay the advanced sum over some time (most times up to 30 years) at an interest rate.

A PreQualification is a process through which the lender evaluates the creditworthiness of the borrower and also decide the amount of loan the borrower is entitled to. This is done through the financial documents and records made available to the lender by the borrower

One important takeaway from a prequalification is that it is an approximation of what a borrower is entitled to base solely on the information given to the lender. It is, therefore, an approximation which can be less or more when the official application for the loan is submitted.

As stated in the question, getting a prequalification helps Matt to identify and understand the areas of problems and credit report errors that may arise and then he can use the prequalification information to attend to these errors and ensure a proper application is submitted that will allow him to maximise the amount of loan that can be made available to him.

Once Matt has corrected errors and identified problems that may arise on his mortgage application, he then gathers the relevant document and goes for the first formal process in mortgage processing which is the preapproval.

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3 years ago

Read 2 more answers

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Answer:

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