Explanation:
Some brands that use selective or exclusive channels are some of the best positioned brands in the market, such as: Adidas, Mercedes, Gucci, Apple, etc.
The selection of channels influences the consumer's perception of the brand, and directly impacts the creation of the brand value for the customer.
The strategic management of the distribution channels of these brands is carried out according to the concept of the marketing mix, which can be defined as the set of marketing elements that will generate the purchase desire in the consumer. This concept is based on the 4 marketing P's: product, price, place and promotion.
The selective or exclusive channels of distribution of brands fit into the square element of the marketing mix, which is configured as a strategy for placing the brand on the market, responsible for the way in which its products reach the final consumer. Therefore, the most effective distribution channels should be considered to define the type of ideal point of sale so that the potential customer can find the product.
To add real value, the company must strategically align the objectives of the distribution channels and the objectives of the organization, as the selection of the distribution channel will in fact play a decisive role in the conception of the brand's value and success in the market.
Answer:
Consumer Insights
Explanation:
After reviewing the existing data on seasonal spending by his company's customers, Lucas decided that he needed to collect new information to address his particular research questions. Lucas will need <u>Consumer Insights</u> data to address the questions in his marketing research study.
<u>Consumer insights research does more than tell you about who your customers are and what they do.</u> It reveals why customers behave in certain ways and helps you leverage that to meet your business goals.
This type of market research can help Lucas<u> anticipate consumer needs, spark innovation, personalize your marketing, solve business challenges, and more.</u>
Answer:
Debit: $300
Credit: $300
Explanation:
See attached picture for explanation.
Answer:
In this section, we are going to take a closer look at what is behind the demand curve and the behavior of consumers. How does a consumer decide to spend his/her income on the many different things that he/she wants, i.e., food, clothing, housing, entertainment? We assume that the goal of the consumer is to maximize his/her level of satisfaction or joy, constrained by his/her income.
Economists use the term utility as a measure of satisfaction, joy, or happiness. How much satisfaction does a person gain from eating a pizza or watching a movie? Measuring utility is based solely on the preferences of the individual and has nothing to do with the price of the good. Let’s do an experiment in utility.
Step 01: Get some of your favorite candy, pastries, or cookies.
Step 02: Take a bite and evaluate, on a scale from 0 to 100 (with 100 being the greatest utility), the level of utility from that bite. Record the marginal utility of that bite (i.e., how much you get from that one additional bite).
Step 03: Repeat step 02. It is important to be consistent with each unit consumed, i.e., the same size and no drinking milk or water part way though. When you run out of candy or your marginal utility goes to zero you can stop.
Law of Diminishing Marginal Utility
Answer:<u><em> Cost of goods sold</em></u> would be a debit entry to eliminate the intra-entity transfer of inventory.
Cost of goods sold is known as the direct costs ascribable to the production of the commodity sold in a organization. This considers the cost of the materials that has been substantially used in making the commodity including the labor costs.
<u><em>Therefore, the correct option is (b)</em></u>
