Answer:
The market analyst is requesting you to perform a formal research.
Explanation:
Formal research is a research style used by researchers (and students) that uses a very formal structure in order to carry out a scientific research (or very similar type). Formal research obtains and analyzes data in a controlled and systematic manner, that tries to avoid subjective bias and focuses on objective information.
Answer:
The Price Elasticity for increased sales relieved from ticket sales as a result of reduction in price is option <u>A) Elastic</u>
Explanation:
Suppose the Washington Wizards owner lowers the price of Wizard game tickets and the total revenue he receives from ticket sales rises. This would be evidence that the price elasticity of demand for Wizards tickets is elastic.
Price elasticity of demand refers to a standard used to measure how much price changes can affect the quantity of goods demanded or sold.
Price Elasticity of demand could be
- Elastic
- Inelastic
- Unitary
- Perfectly Inelastic
When reduction in price brings about a rise in quantity demanded and by implication more sales such that total revenue increases, The price Elasticity of demand is Elastic.
This is the applicable option for Washington Wizards business.
Answer:
Starting from the top to the bottom: profit motive, property rights, international competition, consumer soverignty, wealth creation
Explanation: Edmentum/Plato Answer
Answer:
D. A controlled test market
Explanation:
A controlled test market is a thoroughly planned marketing test that aims to provide companies valuable, critical insight that is essential to analyse the success of a new product/service. By conducting a controlled test market, the companies can monitor customer reactions and preferences, or the advertisement's influence. Although this is not conducted in a typical sandbox environment, this is almost always a small market.
It is true that once the decision has been made to implement an ERP system the initial step is to select an ERP vendor.