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Tems11 [23]
3 years ago
12

The VP of Marketing directs you to begin looking at markets for Powerfully Fit's products: "Assuming that we focus on the desire

for fitness technology functionality, what market do you think would benefit most from our offerings?"
Business
1 answer:
yawa3891 [41]3 years ago
4 0

Options:

a) Gym Newbie: This largest market is new to fitness and working out. Gym newbies work out once a week and are price sensitive about their fitness spending.

b) Weekend Warriors: This large market works out 2-3 times a week and mixes up running with gym time. Weekend warriors typically purchase mid-level shoes and apparel and use a fitness app on their phone to track their workouts.

c) Marathon Madness: This mid-size market works out daily. Workouts often include long distance runs. Quality, durable products are attractive to this market, and marathoners are willing to pay premium prices to get the latest tech.

Answer:

C)

Explanation:

The VP of Marketing has directed you to search for a target market that values fitness technology functionality and are willing to pay for it. Gym newbies and weekend warriors might value the functionality but can get similar products at a lower costs since their needs are very basic.

You need people that workout constantly and for long periods of time. This type of clients really need high quality and durable products, so they are willing to pay for them. These guys and girls are not going to go around running and watching their cellphones, they are trying to improve their performance, not to worsen it. They are constantly looking for ways to be better athletes and train harder, and any help they can get is very valuable for them.

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chubhunter [2.5K]

The equilibrium price and quantity for llama sculptures would fall as a result of the price decrease of the porcelain sloths. Being that they are substitute goods, a fall in price of the sloths would lead to a decrease in the demand for the llama sculptures.

An equilibrium price, additionally known as a market-clearing charge, is the consumer price assigned to some product or service such that deliver and call for are equal, or close to identical. The manufacturer or vendor can promote all the devices they want to transport and the consumer can get right of entry to all the units they need to shop for.

What's equilibrium price and demand?

The equilibrium price is in which the supply of goods fits call for. when a chief index stories a duration of consolidation or sideways momentum, it may be said that the forces of deliver and call for are fantastically equal and the market is in a nation of equilibrium.

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What's the maximum essential characteristic of the equilibrium price?

The most critical function of the equilibrium price is that it: clears the market, leaving neither a surplus nor a scarcity.

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5 0
2 years ago
A large bakery buys flour in 25-pound bags. The bakery uses an average of 1,215 bags a year. Preparing an order and receiving a
Alex777 [14]

Answer:

annual demand = 1,215 bags of flour

ordering costs = $10 per order

annual carrying costs = $75 per bag

a. Determine the economic order quantity.

EOQ = √[(2 x S x D) / H]

EOQ = √[(2 x $10 x 1,215) / $75] = 18 bags of flour

b. What is the average number of bags on hand?

average number of bags on hand = 18 / 2 = 9

c. How many orders per year will there be?

total number of orders per year = 1,215 / 18 = 67.5 orders

d. Compute the total cost of ordering and carrying flour.

total cost of ordering flour = 67.5 x $10 = $675

since we assume that the company keeps operating after the year ends, we can use fractions when calculating the number of orders per year

total cost of carrying flour = 9 x $75 = $675

total cost of ordering and carrying flour = $1,350

3 0
2 years ago
The chart gives prices and output information for the country of Utopia. Use this information to calculate real and nominal GDP
Mrac [35]

Answer:

Explanation:

The chart below gives prices and output information for the country of Utopia. Use this information to calculate real and nominal GDP for both years. Use 2017 as the base year.

Year                 2016             2017  

                      Price      Quantity Price Quantity  

Ice Cream $7.00        600      $3.00 400

Blue Jeans $70.00          20       $20.00   90

Laptops       $300.00            5       $300.00     5

2016 nominal GDP = $_(7 x 600) + (70 x 20) + (300 x 5)_ =  $7,100

2017 nominal GDP = $_(3 x 400)+(20 x 90) + (300 x 5)_  = $4,500

2016 real GDP = $__(7100-4500)/ 4500)) / change in ice cream price of 50%+ change in blue jean price of (70-20/20) 250%_______

= 0.57/3 = 0.19% growth. Technically the economy was better in 2016 than in 2017.

2017 real GDP = will be same as nominal, hence no growth  since this is the base year

4 0
2 years ago
Which of the following is most likely to be a primary data source:
love history [14]

Answer:

d. A customer survey

Explanation:

Data collected by researchers for the first time for a specific study is primary data.  A customer survey is a method of collecting primary data. A customer survey gathers information on the research topic directly from respondents.

Primary data like surveys are costly and consume time to collect, unlike secondary data. Other methods of collecting primary data include administering questionnaires, direct or indirect personal interviews, field observations, and experiments.

7 0
2 years ago
When Stuart sold a computer network to a Fortune 500 company, he often called on the company's purchasing department to see if e
Semmy [17]

Answer: Relationship selling

Explanation:

Stuart in his sales transaction with Fortune 500 company, is carrying out relationship selling, where the seller tries to make sales by creating a friendly relationship with their buyers. Relationship selling helps the buyer to easily relate with the seller, thereby making sales very easy to transact.

7 0
3 years ago
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