Answer:
C. reward innovation and hard work of inventors
Explanation:
A patent is a right granted to an inventor by the federal government that permits the inventor to exclude others from making, selling or using the invention for a period of time. It helps to reward innovation and hardwork
Answer:
Average Customer Retention rate = 80%
Average Value of Sales per year per customer = $120
Average customer acquisition cost = Customer acquisition oriented market expenses per month/
number of new customers acquired per month
Average customer retention cost = $75
CLV =[1/(1- Average customer retention rate)] x (average value of sales per year per customer)-(average customer acquisition cost + average customer retention cost)
![= [1/(1-0.8)] x 120-(40+75)](https://tex.z-dn.net/?f=%3D%20%5B1%2F%281-0.8%29%5D%20x%20120-%2840%2B75%29)
=$485
A) Average customer retention rate =90%
B) Average value of sales per year per customer = $125
C) Average customer acquisition cost =$60
D) Average customer retention cost =$100
CLV = [1/(1- Average customer retention rate)] x (average value of sales per year per customer)-(average customer acquisition cost + average customer retention cost)
![= [1/(1-0.9)] x 125 - (60+100)](https://tex.z-dn.net/?f=%3D%20%5B1%2F%281-0.9%29%5D%20x%20125%20-%20%2860%2B100%29)
E) Customer Lifetime Value = 1090
Explanation:
Here are the spreadsheets.
Multiculturalism is when there are several different cultural or ethnic groups within society. These people differ on culture, race and ethnicities so their values and way of life are unique to their culture. Multigenerationalism is when there are several different age groups (generations) present within society. I think it is more of a challenge for marketers to market with many different cultures living within society because cultures usually have larger differences over generations. With generations, customs do change and there are differences but they are still of the same nationality and race so the social norms are much more similar. When there are larger differences it is hard to market and reach all of the potential consumers.
Small business in the US provides 64% of new private-sector jobs, 49.2% of private sector employment and 46% of private-sector output. It can be seen clearly from this that small business is a major contributor to employment and output in the US.
