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RUDIKE [14]
3 years ago
12

Worlds of Fun is preparing to open its newest theme park in Shanghai. Once open, the marketing department will be collecting lot

s of information on what customers want while they are at the park. The marketing research team for Worlds of Fun will create original surveys with targeted questions to help collect reliable information. This type of research is described by marketing professionals as the collection of
Business
1 answer:
erik [133]3 years ago
6 0

The correct answer would be, Primary Data.

This type of research is described by marketing professionals as the collection of Primary Data.

Explanation:

There are two types of data that is being collected and used for a research. They are as follows:

  1. Primary Data
  2. Secondary Data

Primary data is the data which is collected for the purpose for which the research is being conducted. Secondary data is the data which was collected for some other purpose but can be used in the current research as well.

So when the marketing department will collect a lot of information on what customers want while they are at the park, through surveys and direct questioning, the team of marketing department will basically be collecting the Primary data for their research in which they will come to know about the customer needs and wants directly.

Learn more about types of data at:

brainly.com/question/13536450

#LearnWithBrainly

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Compare and contrast anticipatory and response-based business models. Why has responsiveness become popular in supply chain coll
Anon25 [30]

Answer:

Forecast and planning

Explanation:

An anticipatory model is a model under which market forecast determines the production of products by the manufacturer, and purchases by retailers also determined by forecasts and promotional plans. Since the forecasts are wrong most of the times, anticipatory model usually leads to differences in the actual production of the firms and what they initially planned to produce.  

Anticipatory Model is a risky model because anticipation of future events always determines the work to do by the firm.

On the contrary, the Responsive Business Model does not depend on forecasts, but ensure that what to be done are adequately planned and information among firms in the supply chain are properly exchanged. This makes the model not to be risky and ensure doing more than what has already been planned is avoided. Therefore, the aim of the responsive model which also known as Pull Model is to eliminate reliance on forecast.  

The major reason the Responsive Model has become popular in supply chain collaborations is that it allows for the customization of products on smaller orders by customers.  However, the Anticipatory Model does not give customers any choice or power but to buy or not buy.

4 0
3 years ago
Match the following terms to their definition: 1. expected value 2. liquidity 3. fixed assets 4. point of sales terminals 5. sel
koban [17]

Answer:

1.A representative quantity from a probability distribution arrived at by multiplying each outcome times the associated probability and summing up the products.

2.The relative convertibility of short-term assets to cash.

3.Assets that are assumed to be long term in nature.

4. Computer terminals in retail stores that may be used for inventory control or other purposes.

5. Assets that are converted to cash within the normal operating cycle of the firm.

6.Financing provided by sellers or suppliers in the normal course of business.

7.Equal monthly production used to smooth out production schedules and employ manpower and equipment more efficiently.

Explanation:

8 0
3 years ago
If the price of good X increases by 2%, and that causes the quantity demanded of good Y to decrease by 15%, then the cross elast
Zina [86]

Answer:

-7.5%

Explanation:

Cross elasticity of demand is the degree of responsiveness of the quantity of a commodity, Y in this case, to the change in the price of another commodity, X in this case.

Cross elasticity of demand is measured as a percentage change in the quantity of commodity Y divided by the percentage in the price of commodity Y. This can be written mathematically as follows:

Ec = % Change in the quantity of commodity Y divided by the percentage in the prie of commodity X.

Where Ec denoted cross elasticity.

Applying the formula to this question, we have

Ec = -15%/2% = -7.5%

Note that under cross elasticity of demand:

1. Two goods are substitute if the value of their cross elasticity of demand is positive. That is, an increase in the price of good one, good X, will lead to an increase in the quantity demand of the second, good Y.

2.  Two goods are complimentary if the value of their cross elasticity of demand is negative.That is, an increase in the price of good one, good X, will lead to an decrease in the quantity demand of the second, good Y.

Therefore in this question, goods X and Y are complimentary because the value of their cross elasticity of demand is -7.5% which is negative.

I wish you the best.

4 0
3 years ago
Which factor can boost business opportunities in Virginia?
o-na [289]

Answer:

Which factor can boost business opportunities in Virginia?

Re-branding

Well packaged advertorials

discount sales

promo sales

improve content quality

price reduction

Explanation:

4 0
3 years ago
Perfect substitutes A. always have indifference curves with slopes of minus1. B. have horizontal indifference curves. C. always
torisob [31]

Answer:

Option (D) is correct.

Explanation:

Perfect substitute goods are the goods which can be used in place of each other.

Perfect substitutes refers to the goods which are having identical characterstics, features and provide the exactly same level of satisfaction.

The marginal rate of substitution for these perfect substitute goods remains constant which means that the trading of one good for the another good is at a fixed rate.

3 0
3 years ago
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