Defining the research problem and establishing research objectives are the first step of the marketing research process.
- Identifying the problem and relevant topics is the first step in the marketing research process.
- After that, you can formulate a strategy and conduct research for the design.
- The gathering and analysis of data is the next step in the research process.
<u>There are six steps in the marketing research process:-</u>
- Problem definition is step one,
- Problem approach development is step two,
- Research design formulation is step three,
- Data collection is step four,
- Data preparation and analysis is step five,
- Report preparation and presentation is step six.
What is the marketing process?
In order to research market prospects, select a target consumer, and develop a comprehensive marketing plan to engage with those customers and qualify leads for the sales team, a company must first go through the marketing process.
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Solution :
The average number of the arrivals, λ = 6 per hour
Average service rate,
= 8
Average number of the customers in the system is given by,
= 3
Average number of the customers that are waiting in the line behind the person who are being served is,
= 2.25
Proportion of the time the server is busy,
= 0.75
The formula to solve the net income earned during the year is;
Increase in retained earning + Dividends = Net income
$4.3 million + $2.3 million = $6.6 million.
I just revised the formula of increase of retained earning which is Increase of retained earning = net income - dividends.
The answer is FALSE. Hope this helps.
Answer:
Production for the third quarter 159,500
Explanation:
Sales for the period 161,000
Desired ending inventory 4,600
Total production needs 165,600
Beginning Inventory (6,100)
Production for the third quarter 159,500
The sales for the period and the desired ending inventory are the total units we need for the quarted.
the beginning inventory reduces the production because are units we already have