The Chinese restaurant failed to realize the importance of "word-of-mouth marketing."
<h3>What is word-of-mouth marketing?</h3>
Whenever a consumer's interest inside a company's service or product is reflected in their regular conversations, this is referred to as word-of-mouth marketing (also WOM marketing). Basically, it is free promotion brought on by consumer experiences, which are typically above and beyond their expectations.
Some key features regarding word-of-mouth marketing are-
- Word-of-mouth marketing occurs when customers recommend a business's goods or services to their friends, relatives, and other people they value highly.
- WOM marketing is among the most effective kinds of advertising since 88% of consumers prefer suggestions from their friends than those in traditional media.
- By exceeding customer expectations with a product, delivering first-rate customer service, and providing consumers with insider knowledge, businesses can promote WOM marketing.
- The finest word-of-mouth marketing methods, according to Word of Mouth Marketing Association (WOMMA), are sincere, credible, sociable, repeatable, measurable, and respectful.
To know more about the word-of-mouth marketing, here
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Answer:
Debit Credit
Interest Expense 5,157
Long term Bonds 5,157
Explanation:
The 7%bond is issued by the Whispering Corporation on November 1, 2017 and the Whispering Corporation is using effective interest method with an interest rate of 6%, therefore the adjusting entry shall be recorded as at December 31,2017 in respect of interest accrued for two months i.e. November and December 2017 by following amount:
515,707*6%*2/12=5,157
The following adjusting entry shall be recorded in accounts of Whispering Corporation in respect of interest accrued as at December 31, 2017:
Debit Credit
Interest Expense 5,157
Long term Bonds 5,157
Answer:
The correct answer is letter "C": Earn zero economic profit.
Explanation:
For markets that have many companies offering similar products or services, monopolistic competition exists. Restaurants, grocery stores, and clothing stores, for example. Such similar products or services are not ideal replacements for each other in monopolistic competition. In the short run, the economic profit of the firms is positive but in the long run, the economic profit approaches to zero.
Answer:
50.0%
Explanation:
The computation of the information ratio is as follows
Information ratio = Alpha ÷ residual standard deviation
where,
Alpha is
= Average rate of return - required rate of return
The average rate of return is 18%
And the required rate of return is
= Risk-free rate + Beta × (Market rate of return - Risk-free rate)
= 7% + 1.25 × (15% - 7%)
= 17%
So, the alpha is
= 18% - 17%
= 1%
Therefore the information ratio is
= 1% ÷ 2%
= 50.0%
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