Answer:
Suppose Frances earns $550 per week working as a programmer for PC Pros. She uses $9 to order a mojito cocktail at Little Havana. Little Havana pays Dmitri $350 per week to wait tables. Dmitri uses $175 to purchase software from PC Pros.
Identify whether each of the following events in this scenario occurs in the resource market or the product market.
Frances earns $550 per week working for PC Pros
Explanation:
Answer:
Customer Lifetime Value
Explanation:
Customer Lifetime Value is a measure of how much amount of money a customer spends on your business/products/services over the course of his whole lifetime.
It is a predictor of how well you are doing to retain your existing customers.
Why is it important?
suppose you spend $10 to advertise your product (belt) and a customer buys 5 belts on average every year for 15 years. You get $12 profit for each belt sold.
$
Subtract the advertising cost
$ This is your customer lifetime value
Now imagine what would have happen if we had to sell these belts to 75 different customers?
The advertising cost to attract 75 customers would have been too much and hence net profit and customer lifetime value would be very less.
$
$
This is why customer lifetime value is important and businesses focus on retaining their customers for longer periods.
Answer:
Sales Growth pricing objective
Explanation:
Since prices are being reduced then the aim will not be profitability, neither was it mentioned that it was because of competitors but it was done in the bid to meet internalsales targets.
This is an example of which pricing objective of Sales Growth:
Sales Growth’s objective is to increase sales volume. <u>It sets its price in such a way that more and more sales can be achieved.</u> It is assumed that sales growth has direct positive impact on the profits. <u>So, pricing decisions are taken in way that sales volume can be raised. Setting price, altering in price, and modifying pricing policies are targeted to improve sales.</u>
Answer:
cultural elements of a company
Explanation:
distinctive personality
The option that will be best in this scenario would be a <span>Parallel test.
In a parallel test, same input will be entered in two different version of simulation. By doing this, we could create multiple simulations to test several possibilities and reducing the total time needed at the same time. The downside is that this test exposes the tester to a high risk of making a mistake.</span>
