Answer: Her income elasticity of demand for cottage cheese is <em><u>0.3333</u></em> making it a <em><u>normal and necessary</u></em> good.
The income elasticity of demand is given by :
The percentage change in income is given as 60%. We calculate the percentage change in quantity demanded as follows:
Substituting the value above in the income elasticity demand formula we get,
<u>YED = 0.33333</u>
Since the income elasticity is positive, and since Shawna buys more cottage cheese after an increase in income, we can classify this good as a normal good.
Since the income elasticity is between 0 and 1 we can also conclude that cottage cheese is also a essential good or a necessity.
Answer:
Disadvantage of Corporate Form of Organization:
d. Government regulation
Explanation:
In recent times, government regulation of businesses appears to be regarded as a disadvantage of the corporate form of organizations. Governments intervene and regulate corporate entities whenever they fail to be self-regulatory. But, the regulations may appear to be so much that the corporate form of organization now looks like a disadvantage. Given the many corporate scandals, collapses, and misapplications of resources by corporate entities that have become the order of the day, government regulation is very important. Without government regulation, many corporate bodies will not be acting in the public interest. This is more so with public entity corporate organizations with diverse stakeholders and corporate managers who act as if they were running their own autonomous governments.
I believe that in such a situation, the thing you should do is say: Mrs. Wilson can't be contacted now, but I will give her your name and number as soon as possible.
That way you won't interrupt your boss, and you will give a polite answer to the person calling.
Answer:
Identify the segmenting dimension most likely being used by Sanders Beverages.
Behavioral
Explanation:
Marketing involves the promotion of a company's product to potential customers. Customers as a whole have different characteristics and preferences, thus the need for market segmentation. Market segmentation is the division of target customers in groups of similar characteristics. These groups are known as segments where individuals that share similar traits in term of preferences, age and location are placed into one group. There are four major types of dimensions depending on segment characteristics; demographic, psychographic, behavioral and geographic segmentation.
1. Demographic segmentation
It involves the placing of people into groups based on their demographics like; age, gender and income. Demographics help understand consumer behavior better. An example is that, a company might realize that most young people who are college goers tend to drink more beer as compared to older people. This can be important to a beer manufacturing company to target specific audience.
2. Psychographic segmentation
This is the grouping of customers based on their personality traits, values, beliefs and interests.
3. Behavioral segmentation
This is the process of grouping customers based on their consumer behavior. In our case, the consumer behavior being targeted is non-juice drinkers to determine if they will accept the new line of healthy fruit juices.
4. Geographic segmentation
This is the process of grouping customers based on their location to determine specific areas where many consumers might be located.
