Answer:
The level that utilizes the "shotgun" approach to market coverage is:
Intensive Distribution (mass coverage).
Explanation:
This marketing approach aims to reach many consumers through as many sales channels as possible. In this situation, consumers have easy access to the goods or services. The other approaches include Selective Distribution (where few outlets in specific locations are selected for the distribution of the goods and services) and Exclusive Distribution (where limited outlets are chosen because of the target market).
Considering the situation above, by building a strong brand, Wilson has effectively "<u>reduced the price elasticity of demand for its products</u>."
This is because the price elasticity of demand is a term in economics that defines the sensitivity of the quantity demanded of a commodity to its price.
Usually, the price elasticity of demand shows that when the price of a commodity increase, the quantity demanded decreases.
Thus, in this case, since it is said that Kendra allowed Wilson to charge a higher price and not lose many sales, therefore, Wilson has been able to reduce the price elasticity of demand for its products.
Learn more here: brainly.com/question/15654343
Answer:
<u>A vision states what a firm wants to accomplish; a mission states how a firm plans to accomplish this vision.</u>
Explanation:
Defining a company's vision and mission is extremely important for its strategic planning, as its premises will serve as a guide to assist managers in the decision-making process.
The mission corresponds to the company's raison d'être, the reason for its existence and what its purpose is. The vision corresponds to the aspirations, objectives and goals that the company intends to achieve in the future. So it is correct to say that A vision affirms what a company wants to accomplish; a mission states how a company plans to realize that vision.
Answer:
D) $66,325
Explanation:
the total costs associated with a stockout are:
- probability of a back order 50% x cost of a back order $150 = $75
- probability of a lost consumer 25% x cost of a lost consumer $250,000 = $62,500
- lost gross margin = probability of a lost consumer 25% x $1,500 x 50 units x 20% = $3,750
total costs of a stockout = $75 + $62,500 + $3,750 = $66,325
