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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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The following information applies to the questions displayed below.]
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Answer:

KORBIN COMPANY

Common Size Comparative Income Statements

For Years Ended December 31, 2017, 2016, and 2015

                                          2017       %          2016          %      2015          %

Sales                            $ 555,000  100    $340,000   100   $278,000  100

Cost of goods sold         283,500    51.1     212,500    62.5   153,900    55.4

Gross profit                      271,500   48.9    127,500     37.5    124,100    44.6

Selling expenses            102,900    18.5      46,920     13.8     50,800     18.3

Administrative expenses 50,668     9.1      29,920       8.8     22,800      6.0

Total expenses               153,568   27.7      76,840     22.6     73,600    26.5

Income before taxes       117,932   21.2      50,660      14.9    50,500      18.2

Income taxes                   40,800     7.4       10,370        3.1      15,670       5.6

Net income                    $ 77,132    13.9   $40,290       11.9  $34,830      12.5

Explanation:

a) Data and Calculations:

KORBIN COMPANY

Common Size Comparative Income Statements

For Years Ended December 31, 2017, 2016, and 2015

                                          2017       %          2016          %      2015          %

Sales                            $ 555,000  100    $340,000   100   $278,000  100

Cost of goods sold         283,500    51.1     212,500    62.5   153,900    55.4

Gross profit                      271,500   48.9    127,500     37.5    124,100    44.6

Selling expenses            102,900    18.5      46,920     13.8     50,800     18.3

Administrative expenses 50,668     9.1      29,920       8.8     22,800      6.0

Total expenses               153,568   27.7      76,840     22.6     73,600    26.5

Income before taxes       117,932   21.2      50,660      14.9    50,500      18.2

Income taxes                   40,800     7.4       10,370        3.1      15,670       5.6

Net income                    $ 77,132    13.9   $40,290       11.9  $34,830      12.5

KORBIN COMPANY

Comparative Balance Sheets

December 31, 2017, 2016, and 2015

                                                  2017            2016         2015

Assets

Current assets                       $ 52,390     $37,924      $51,748

Long-term investments                      0            500         3,950

Plant assets, net                      100,000      96,000       60,000

Total assets                           $152,390   $134,424    $115,698

Liabilities and Equity

Current liabilities                    $22,800     $19,960    $20,300

Common stock                         72,000       72,000      60,000

Other paid-in capital                  9,000         9,000         6,000

Retained earnings                   48,590       33,464       29,398

Total liabilities and equity   $152,390    $134,424    $115,698

b) Korbin's common size income statement shows each line item expressed as a percentage of the revenue or sales value.  This analysis of individual financial statement items is also known as a vertical analysis of the financial statement, making line items comparison to a common base easy.

3 0
2 years ago
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