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3 years ago

Why do Marketers segment a market?

Business

1 answer:

adell [148]3 years ago

8 0

Answer:

see below

Explanation:

Market segmentation is the practice of sub-dividing the target market into smaller groups. Market segmentation creates customer groups based on demographics, needs, priorities, and other common traits. Marketers use segmentation to understand the needs of target clients better.

Segmentation increases marketers' efficiency in resource utilization. It allows companies to learn about their customers and design tailor-made campaigns for a particular group. Targeting segments in marketing raises the possibility of more sales.

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Markets always allocate resources in ways that meet ideal economic efficiency.

Virty [35]

Answer:

False. Markets can sometimes fail to reach efficiencies when there are externalities, public goods, monopoly, or serious information asymmetries

Explanation:

Invisible hand (effective allocation of resources in a laissez faire economy) sometimes works because when market function effectively and send correct price as signal of values (to society) to producers.

However, when goods can't be traded on markets (public goods) or its values are not correctly reflected on markets (externalities, information asymmetries) or competition is not ensured (monopoly), markets cannot ensure effective allocation of resources.

5 0

3 years ago

If a buyer has a critical or more important use of the product then the inelasticity of the demand increases. what factor is aff

Ghella [55]

If a buyer has a critical or more important use of the product then the inelasticity of the demand increases, then it is the importance of the product affecting elasticity.

A product is considered inelastic if its demand remains static even if there is a significant price change. It is generally the basic necessity product that are considered as inelastic product. Inelastic demand of the product ensures the adequate supply of goods. In inelastic demand case the quantity demanded is same despite the change in price and the demand curve is graphed out as a vertical line. These goods have no substitutes ensuring the quantity demanded remains unaffected.

In case of fall in the price, the demand remains same, generating less revenue. On the other hand, if price hikes, the business earns significant profit.

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3 0

1 year ago

To satisfy their economic wants, people ______ goods and services.

Taya2010 [7]

Answer: Consume.

Explanation: To satisfy their wants humans tends to consume goods and services. consumes in this sentence is used to indicate the Human purchasing power to sati their needs. And what are human needs this are what we need to survive on a daily basis mainly food, clothes and shelter. So by consuming goods and services we are satisfying our need.

3 0

3 years ago

Blossom provides environmentally friendly lawn services for homeowners. Its operating costs are as follows.

Elina [12.6K]

Answer:

Break-even point = 110 lawns & Break-even sales point = $8,800

Explanation:

Total fixed costs = Depreciation + Advertising + Insurance

Total fixed costs = 1,400 + 200 + 3,680

Total fixed costs = $5280/month

Total variable cost per unit = Weed + Direct labor + Fuel

Total variable cost per unit = 13 + 16 + 3

Total variable cost per unit = $32/lawn

Contribution margin ratio = (Sales per unit - variable cost per unit) / sales per unit

Contribution margin ratio = (80 - 32) / 80

Contribution margin ratio = 0.6

Contribution margin ratio = 60%

Break-even sales = Fixed costs / contribution margin ratio

Break-even sales = $5280 / 60%

Break-even sales = $8800

Break-even sales units = Break-even sales / sales per unit

Break-even sales units = 8800 / 80

Break-even sales units = 110 lawns

Break-even point = 110 lawns & Break-even sales point = $8,800

8 0

3 years ago

question content area for the year ended december 31, orion, inc. mistakenly omitted adjusting entries for $1,500 of supplies th

Oduvanchick [21]

Errors will have a $2,300 overstatement of net income on revenues, costs, and net income.

The amount earned by an individual or business after costs, allowances, and taxes is referred to as net income. Net income in the company is the amount that remains after all costs, such as salaries and wages, the cost of goods or raw materials, and taxes, have been paid.

Net income = Total revenue - total expenses

where,

Total revenue = Unearned revenue = $4,200

Total Expense = Supplies expense + insurance expense = $1,500 + $5,000 = $6,500

Net Income = Total revenue - Total Expenses = $4,200 - $6,500

Net Income = -$2,300

Therefore, there's an overstatement of $2300 in Net Income.

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6 0

1 year ago