The parts of a company's business model that are often easiest to identify are market strategy and market opportunity.
A market opportunity is a newly identified demand that a company could use to grow; often, this is because competitors aren't filling it.
A marketing strategy is a long-term plan for achieving a company's goals through comprehending customer needs and creating a distinct, sustainable competitive advantage. Everything is covered, from selecting the channels to use to get in touch with your customers to identifying them.
The target market for the venture, a competitive analysis, marketing strategies, estimated launch expenses, and funding sources should all be included in the business model of a new company.
For more information, Market strategy and market opportunity
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Prestige pricing is a unique pricing method involving products which would actually generate less overall profit at lower prices than higher prices. As long as the product is views by the public as being "prestigious," it will be in greater demand at the higher price. If the price were lowered, the public opinion of the product would be lower and the product would be seen as less desirable. This results in the product selling less at the lower price than at the higher price.
Marta is performing the <u>spokesperson</u> role.
<u>Explanation:</u>
By communicating projects, successes and / or perspectives, Public Relation managers build and maintain an advantageous public image for their company or customer, and thus serve as a spokesperson. The role of public relations managers is to answer questions from the press and pitch stories to the media, plan publicity kits and coordinate press conferences. A good PR manager is ultra-engaged and maintains the eye on what's going on in the industries of the clients. They also remain up-to-date about current world events and developments that may affect the industries within which they work.
Answer:
$363,500
Explanation:
Gross profit = Revenue - Cost of Goods Sold.
In the case
Revenue = $578,000.
The Cost of Goods Sold: COGS
Inventory turn over = COGS/ Average turnover
Average turnover = Opening stock + closing stock/2
In this case Opening stock + Closing stock = $110,000
Average turnover = $110,000 /2 =$55,000
Therefore:
3.9 = COGS/$55,000
COGS = $55,000 x 3.9
COGS =$214,500
Gross profit = $578,000 - $214,500
Gross profit = $363,500