The marketing philosophy that could most help a company outperform its competitors in today's marketplace is Market Orientation.
<h3>What is
Market Orientation?</h3>
Market orientation can be described as the approach to business which help in the prioritizing as well as identifying the needs as well as the desires of consumers and brought about the products and services that satisfy them.
Therefore, The marketing philosophy that could most help a company outperform its competitors in today's marketplace is Market Orientation.
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Donna independently owns and operates Punkin's Pies, a small business with about 30 employees. She is happy with the size of her business and the average profits it generates. From this scenario, Donna's business can be considered an entrepreneurial venture - False.
<u>Explanation:</u>
A person starting a new business with limited amount of resources and plans is called an Entrepreneur. He is the person who takes responsibilities for the risk and rewards that are associated with that business. The idea of the business must be unique and it should focus only on newer products.
A small business and an entrepreneurial ventures differs from each other although they have similar roles. A small business generally deals with a familiar and an product and services that are already established. The persons of small business usually have risks that are already known. In an entrepreneurial venture, only new products and unknown risks are present.
Compared to a purely competitive firm in long-run equilibrium, the monopolistic competitor has a higher price and lower output.
<h3>
When a monopolistic competitive firm is in long-run equilibrium?</h3>
Long Run Monopolistic Competition Equilibrium: Over the long run, a company in a market with the monopolistic competition will produce several items at the point where the long-run marginal cost (LRMC) curve crosses the marginal revenue curve (MR). Where the quantity produced lies on the average revenue (AR) curve will determine the pricing.
<h3>
What ultimately transpires to a monopolistic rival?</h3>
Long-term economic gains or losses in monopolistic competition will be removed by entry or leave, leaving firms with no economic gains. There will be some excess capacity in a monopolistically competitive business; this could be seen as the price paid for the variety of products that this market structure brings about.
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Answer:
Total= $292,520
Explanation:
Giving the following information:
Zhang Industries sells a product for $750. Unit sales for May were 400 and each month's sales are expected to grow by 3%. Zhang pays a sales manager a monthly salary of $4,000 and a commission of 2% of sales in dollars. Assume 30% of Zhang's sales are for cash. The remaining 70% are credit sales; these customers pay in the month following the sale.
Cash budget for June:
Sales= [(400*1.03)*750]*0.3= 92,700
Sales from May= (400*750)*0.7= 210,000
Salary= (4,000)
Commision= [(400*1.03)*750]*0.02= (6,180)
Total= $292,520
