1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
lana66690 [7]
4 years ago
7

The type of decision making a consumer uses for a product does not necessarily remain constant.why?​

Business
1 answer:
Vlada [557]4 years ago
5 0

Answer:

See explanation below.

Explanation:

Human wants and needs are dynamic and insatiable. With that in mind, a customer's decision making regarding particular products and services will keep on changing.

This can be due to diverse reasons which include:

- Change is customer's tastes or preferences: customers may experience income level changes, and this will also affect their tastes and preferences for particular products and services.

- Changes in trends: people's needs tend to change with the changes in trends and what is currently in vogue.

- Technology advancements: changes in technology will affect a consumer's decision making process, for example, if a new phone with new capabilities is produced, consumers will want to purchase the product because of its technical aspects.

- Economic factors like inflation, rise or fall in income level, unemployment, recession, etc can affect a consumer's decision making process.

You might be interested in
Fev and Company has a projected balance sheet that includes the following accounts. Cash $ ? Marketable securities 228,000 Accou
Thepotemich [5.8K]

Answer:

C. $ 344,000

Explanation:

In the balance sheet, the assets, liabilities, and stockholder equity is recorded. In this the accounting equation is used which is shown below:  

Total assets = Total liabilities + stockholder equity  

which equals to

Total assets = $1,570,000 + $2,382,000

                    = $3,952,000

And, the total assets equal to

Total assets = Cash + Marketable securities + Accounts receivable + Inventory + Non-current assets

$3,952,000 = Cash + $228,000 + $860,000 + $490,000 + $2,030,000

$3,952,000 = Cash + $3,608,000

So, the cash would be

= $344,000

7 0
4 years ago
What would most likely happen if the value of the U.S. dollar fell?
kap26 [50]

Answer:

C

Explanation:

I just did it and got it right :))

6 0
3 years ago
Read 2 more answers
Country x would have an absolute advantage over country y in the production of automobiles under what conditions?
Paul [167]
Under the condition that country X can manufacture cars more cheaply. An absolute advantage devours in a country if it makes good over alternative country and uses a smaller amount of wealth to yield that good. The result of a country’s natural legacy is the absolute advantage. Another example is extracting oil in Saudi Arabia is pretty much just a matter of drilling a hole. Generating oil in other countries can is essential substantial exploration and costly technologies for drilling and extraction if certainly they have any oil at all. The United States devours about the richest farmland in the world which manufacture it at ease to grow corn and wheat than in many other countries. Guatemala and Colombia partake environment particularly suitable for growing coffee. Chile and Zambia have about of the world’s richest copper mines. As some have claimed that geography is destiny. Chile will bargain copper and Guatemala will harvest coffee and they will trade. When each country has a product others necessity and it can be manufactured with fewer resources in one country over another then it is easy to visualize all parties do good from trade. Thinking about trade just in relations of geography and absolute advantage is incomplete. Trade actually happens because of comparative advantage.
4 0
3 years ago
Read 2 more answers
A consultant hired by your organization has advised your manager to increase his team's cohesiveness. he asks you, "what benefit
Natalija [7]

Answer:

  • <u>Members of teams with high cohesiveness feel higher loyalty to the team and have better job satisfaction.</u>
  • <u>Teams with high cohesiveness are generally more productive due to the energizing effect of regular interaction among team members.</u>

Explanation:

Remember, cohesiveness looks at the degree to which team members <em>stick</em> together in times of difficulties.

Also cohesive teams are good communicators; they would involve in regular interactions among team members, an attitude which when applied to an organisation setting would increase the team's productivity.

7 0
4 years ago
Read 2 more answers
How do the characteristics of management decisions-uncertainty, risk, conflict, and lack of structure- affect the decision facin
Oxana [17]

Answer:

Explanation:

The case study about the decision making ability of Stan Eagle from the beginning of the set up of the company till the time he faced problem after its inception. Stan Eagle who runs a skate company was losing money when he and his partner Pete Williams combined the business of clothing with the business of selling skateboards. Stan’s partner decided to sell other types of sports equipment which he thought will generate more revenues for the company. But Stan was disturbed as he thought it was better to focus on sports that they had most expertise and believed there was a way to bring out profit from those sports. This disturbance led Stan to become confused on whether to listen to his friend or move on with his own decision and eliminate Williams his partner from the business by buying his shares.

Question:

How do the characteristics of management decisions – uncertainty, risk, conflict, and lack of structure –   affect the decision facing Stan Eagle?

A.     Uncertainty

Uncertainty is a state whereby a decision maker have insufficient information on the consequences of his actions. For Stan Eagle, this uncertainty was a cause for worry whether or not the company will succeed or not as he has no expertise about the new product line. Even if he enters the market with the new products, there is a doubt on how well he can manage the new business as he knows nothing about these sports. Thus, there is a big question whether or not he will make profit from it. The company will surely be operating under conditions of uncertainty with the lack of adequate information and cannot estimate accurately about the results of his actions.

B.     Risk

Risk is when the probability of an action being successful is less than 100 percent. If the decision is wrong, one may lose money, time, reputation or other important assets. Thus, accepting William’s proposal is a huge risk to take. It is a fact that risk takers are admired, the reality is that good decision makers prefer to manage risk and minimize it. Stan should accept that decisions have risky consequences, but he should do everything he can to anticipate minimize and control the risk.

C.     Conflict

Stan experienced psychological conflict when William offers a new idea for their product line. The conflict happens when he has to deliberate on whether the option is attractive or not. Also, conflict arises between people in the company, Stan and William are partners and they both have different opinions thus bringing forth conflicts between them.

D.     Lack of structure  

In the case of Stan Eagle, he encountered a non – programmed decision.  Stan Eagle's Company faced a dilemma whether it should or should not invest in the new product lines. The idea proposed by Pete Williams is a new area for the company and Eagle has no expertise or experience in this line of business.

4 0
4 years ago
Other questions:
  • Stark Industries was just rated number one for job satisfaction on a survey compiled by an outside entity. The report cited that
    7·1 answer
  • On January 1, 2021, Stoops Entertainment purchases a building for $610,000, paying $110,000 down and borrowing the remaining $50
    9·1 answer
  • Suppose that disposable income, consumption, and saving in some country are $800 billion, $700 billion, and $100 billion, respec
    6·1 answer
  • Larry was accepted at three different graduate schools, and must choose one. Elite U costs $50,000 per year and did not offer La
    11·1 answer
  • Using the year-end information for each of the following six separate companies ($ thousands):
    13·1 answer
  • Angelina's made two announcements concerning its common stock today. First, the company announced that its next annual dividend
    10·1 answer
  • Burkhardt Corp. pays a constant $15.25 dividend on its stock. The company will maintain this dividend for the next 9 years and w
    5·1 answer
  • Firm A plans to introduce a new smart phone which has a potential market of 1 million customers. The marketing research conducte
    13·1 answer
  • If an increase in income leads to an increase in the demand for sushi, then sushi is?
    14·1 answer
  • For an organization with a project based it function, the most important challenge is to select and fund the right projects. tru
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!