Answer:
Determining that smartphone apps and social media aps are important parts of a bank's future plans to reach young consumers. ⇒ <u>New Product Strategy.</u>
Tweeting out the availability of a new smartphone app that helps young professionals manage their financial lives better. ⇒ <u>Product launch.</u>
Inviting younger "fans" of the bank's social media sites to have a free trial of the new smartphone app. ⇒ <u>Test marketing. </u>
Having a Faceb-ook discussion with consumers on what they would ideally like to have from a bank smartphone app. ⇒<u> Idea generation.</u>
Creating a prototype of the smartphone app. ⇒<u> Product development. </u>
<u></u>
Using Tw-itter to ask followers what they are willing to pay for smartphone apps. ⇒ <u>Business analysis. </u>
Developing a social media site that allows college students to review and provide feedback on new product ideas. ⇒<u> Idea screening. </u>
Most homeowners would agree that the most important financial benefit from owning their own home is the tax break. This is known as a tax shelter and allows for homeowners to avoid or lower their taxes. Owning a home reduces your taxable income and in large part due to interest rates and interest paid on an owned home.
Answer:
The demand for candy bars is inelastic
Explanation:
The midpoint rule calculate the price elasticity of demand as percentage change in quantity divided by the percentage change in price:
<u>% change in quantity </u>
The quantity demanded increased from 500 to 600. We have
<u>% change in price</u>
The price changed from 1 dollar to 0.8 dollars.
Price elasticity if demand is
The negative sign tells us that there is an inverse relationship between price and quantity demanded.
Since 0.82 is less than 1, the demand for candy bars is inelastic
Answer:
B. Price promotion
Explanation:
Ashton by trying to create awareness in his new branch, he is planning to cut price and offer coupons so as to persuade customers to purchase from him. The practice is known as price promotion.
Price promotion is the combination of two words "price" and "promotion".
Price refers to the amount of money paid by consumers to purchase goods and services.
Promotion on the other hand refers to activities that persuade the consumers to buy a product and communicate the product’s features and benefits.
Combining the two definitions, pro promotion refers to a discount in price which will encourage consumers to purchase a product.
