Economists can predict what consumers in general will do because all humans seek D. BENEFIT MAXIMIZATION.
Consumers want to get the value for their money. They buy goods that are worth the amount they are willing to spend.
For example, in comparing two products, product A is cheaper but has a shorter life-span. Product B is pricier but lasts longer than Product A.
Given the choices, I'd prefer to buy Product B because I will benefit form it for a longer time than Product A.
Answer:
d. higher product quality.
Explanation:
Globalization has led to <u>higher product quality</u>. Globalization is a preeminent idea that has converted to the main constituent in the business world through the last several decades. Consumers have a wide abundance of choices in the market furthermore this concerns their behaviors. They want to obtain goods as well as services quickly including in a more effective way than previously. They additionally expect tremendous quality moreover low charges.
Answer:
the sample of individuals from whom content is gleaned may not be statistically representative of the marketplace.
Explanation:
The product that is promoted by Marketing team tend to be suitable only for costumers with specific set of characteristics. (Could be depended on their age, income, gender, etc)
The data that is gained from internet more often than not will come from anonymous Account. You can never be sure about the account's owner identity and characteristic.
Which mean that the person from which the data is taken do not necessarily represent the market demographic that the marketing team want to target.
Answer: goal displacement
Explanation:
Goal displacement is when individuals or organizations substitute alternate goals for the original goals that they were meant to accomplish.
In this case, we are told that Norm and his creative team need to present an idea for marketing a new detergent to the head of their advertising agency but that Diane, a member of the team, always resented Norm’s promotion to team leader and always objects to every idea Norm suggests and spends the entire meeting selling her approach. Diane is using goal displacement here as she has another goal rather than the goal of the team which they've agreed on.
Answer:
$19.95
Explanation:
Breakeven is where when total Cost = Total Revenue,
Let Selling Price = X
Total Revenue = Total cost
X*800 = 10,600+6.70*800
800x = 15960
Hence, selling Price(X) = 15960/800 = $ 19.95
