The Christmas tree farm would respond by:
- In the short run, producers are going to earn profits and also increase their supply of the product.
This is what usually happens whenever there is an increase in the prices of goods in the supply side of the market.
As the prices would go up, the producers would want to take advantage of the increases to make as much gain as they can from the market.
This is only short term profit. Therefore the supply is going to be inelastic. The demand is only going to available for a short while.
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In this chapter, we will explore the theory that underpins the place component of the marketing mix (or Four Ps), which we introduced in Chapter 1 and why this is important for marketers to understand. The chapter will provide an overview of the four major distribution channels used by manufacturers to get their product into the hands of the consumer, focusing in particular on the consumer goods (food and grocery) retail channel. The chapter provides important introductory retail channel and format definitions (terminology) which every consumer goods retail marketer needs to know when making decisions about what products to sell in which retail stores. The chapter also looks at how the product travels to market, providing a basic overview of the consumer goods supply chain in South Africa, with a view of some of the key developments and trends to watch.
- The term Place refers to the distribution and physical availability of the product, in other words, where a product is sold and how it gets there. The goal is to make the product available where consumers will buy it in the quantities and pack sizes they need. For example, a chocolate manufacturer such as Nestlé sells its products at a wide range of outlets, including supermarkets, cinemas, garage convenience stores, vending machines, wholesalers and online.
- The different avenues available for a manufacturer to make their product available to consumers to buy are known as distribution (or marketing) channels.
- A distribution channel is made up of interdependent organizations, (referred to as intermediaries or marketing intermediaries), that help to make a product (or service) available for use or consumption by the consumer or business user.
Complete question: Explain the chapter you Save store distribution policy.
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Answer:1. Increase in supply; increase; decrease
2. Decrease in supply; decrease; increase
3. Increase in supply; increase; decrease
4. Decrease in quantity supplied; decrease; decrease
Explanation:
Answer:
see below
Explanation:
Elastic demand describes a scenario where a small change in price results in a significant difference in the quantity demanded. The term 'elastic ' suggests a moving or a stretching demand. Goods that have many substitutes have an elastic demand.
A product or service will have an elastic demand when a small price change greatly affects consumption. Customers will still seek alternative cheaper options if the price increases, which causes demand to drop significantly. The demand for cooldrink is price elastic if a small change in price results in demand changing considerably.
Explanation:
The computation of the cost per equivalent units for each one is shown below:
For Material
= Cost added ÷ Equivalent unit of production
= $67,276 ÷ 13,900 units
= $4.84 per unit
For Labor
= Cost added ÷ Equivalent unit of production
= $27,025 ÷ 11,500 units
= $2.35 per unit
For overhead
= Cost added ÷ Equivalent unit of production
= $86,825 ÷ 11,500 units
= $7.55 per unit
