All categories

3 years ago

Every product has a life cycle. A fad product such as a fidget spinner, can have a very short cycle,

Business

1 answer:

Liula [17]3 years ago

6 0

Answer:

A product's life cycle is generally divided into four stages:

Introduction: requires a very large marketing effort (a lot of money invested), sales are generally low but the goal is to establish the product in the customers' minds.
Growth: Sales start to pick up as customers accept the new product or service, and new competitors might appear. Companies have to try to differentiate their product from the competition.
Maturity: sales reach their highest peak. Many companies extend the growth stage by making small changes and different versions of the product or service. Competition is generally very intense at this stage and since the market growth stalls, each company tries to win the market share of other companies.
Decline: sales start to decline since the product or service might become obsolete. Competition starts to shrink since companies start to exit the market. Companies might extend the decline stage by adding new uses for their products or cutting prices.

You might be interested in

Ben started a business on 1 January 2015 using rented premises. At 31 December 2015 Ben owed $1400 for rent. The rent charge to

Alina [70]

Answer:

4600

Explanation:

Rent expense is 6000 but he still owed 1400 of that. So he paid 4600 (6000-1400)

7 0

2 years ago

Stewart Marketing Inc. manufactures two products, A and B. Presently, the company uses a single plant-wide factory overhead rate

Sophie [7]

Answer:

Allocated MOH= $320

Explanation:

Giving the following information:

Overhead Direct Labor Product

Hours (dlh) A B

Painting Dept. $248,000 10,000 dlh 16 dlh 4 dlh

Finishing Dept. 72,000 10,000 4 16

Totals $320,000 20,000 dlh 20 dlh 20 dlh

First, we need to calculate the plantwide overhead rate:

Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Predetermined manufacturing overhead rate= 320,000 / 20,000

Predetermined manufacturing overhead rate= $16 per direct labor hour

Now, we can allocate overhead:

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

Allocated MOH= 16*20

Allocated MOH= $320

5 0

3 years ago

Which of the following statements is true about pension funds?

KATRIN_1 [288]

C) They are income distributed only to retirees who have worked a certain amount of years. A pension plan provides for future retirement income based on the employee's earnings and length of service with the company. This type of pension plan is termed as a defined benefit plan.

8 0

3 years ago

Read 2 more answers

The team-centered decision-making model is preferred when: relevant information and expertise is found in a few select individua

Law Incorporation [45]

Answer:

Participation is needed to obtain necessary commitment

Explanation:

Decision Making Process is a process of Evaluation of various alternatives available through several methods like forecasting.

During evaluation, risk, time and the efficiency of these alternatives are checked.

Team-centred decision making style is preferable when;

1. Relevant information and how to go about issues cannot be not properly arranged by one person

2. Participation is needed for commitment

3. Making one individual as the central power hurts the team

4. If an uncommon decision is to be made

8 0

3 years ago

Joel and Mike would like to start a new business selling a product new to the U.S., the Peraves Monotracer. Joel and Mike have d

nadezda [96]

Full question:

Joel and Mike would like to start a new business selling a product new to the U.S., the Peraves Monotracer. Joel and Mike have done a considerable amount of research on this product, and think it would be successful in the U.S. However, they are still concerned about the risk of a new venture and both would like to avoid losing any personal assets. They should organize their firm as a

Multiple Choice

corporation.

limited partnership.

general partnership.

sole proprietorship.

Answer:

They should organize their firm as a corporation.

Explanation:

A corporation is a kind of business process that represents the business as a separate, legitimate entity managed by a group of directors identified as the board of directors.

An essential component of a corporation is confined liability, which indicates that shareholders may practice share in the profits by dividends and stock recognition but are not individually responsible for the company's shares. A corporation's purposes can be for-profit or not, as with donations. Still, the huge preponderance of corporations intends to afford a return for its shareholders.

8 0

3 years ago