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nevsk [136]
3 years ago
13

Michael works as a sales representative for an oilfield supply business in West Texas. He sells highly technical safety equipmen

t to his customers. Michael visits his customers on a regular basis to provide information about new products and to solve technical problems that may arise as his clients use the equipment. For Michael, personal selling works better than other forms of promotion because of _______. a. the value of the product b. the number of potential customers c. the role of social media d. the complexity of the product
Business
1 answer:
Sphinxa [80]3 years ago
4 0

Answer:

d. the complexity of the product.

Explanation:

Marketing can be defined as the process of developing promotional techniques and sales strategies by a firm, so as to enhance the availability of goods and services to meet the needs of the end users or consumers through advertising and market research. The pre-service strategies includes identifying the following target market, design, branding, market research. Thus, it comprises of all the activities such as, identifying, anticipating set of medium and processes for creating, promoting, delivering, and exchanging goods and services that has value for customers. It typically, involves understanding customer needs, building and maintaining healthy relationships with them in order to scale up your business.

Personal selling also known as face-to-face selling can be defined as a sales technique or strategy in which the salesperson meets with the potential buyer (customer) for the sole purpose of convincing him or her to buy a product.

For Michael, personal selling works better than other forms of promotion because of the complexity of the product i.e high technicalities associated with the product. The product Michael are highly technical and as such would require guidance or explanation on how to safely use them.

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ADVANCED ANALYSIS Currently, at a price of $0.50 each, 100 popsicles are sold per day in the perpetually hot town of Rostin. Con
Katarina [22]

Answer:

The new Quantity to be sold at $1 is 200 in the short run

Explanation:

The question is to determine the Popsicle sold each day in the short run for a price rise of $1

The formula to use for the Price elasticity of supply in short run

(New Quantity demanded - Old Quantity demanded )/ Old Quantity + New Quantity/ 2

÷

(New Price - Old Price) / (Old Price + New Price)/ 2

The formula can also be simply written as

[(Q2 – Q1)/{(Q1 + Q2)/2}] / [(P2 – P1)/{(P1 + P2)/2}]

Step 2: Solve using the formula

Old Quantity = 100

New Quantity = Q2

Old Price = 0.50

New Price = $1

Solve:

[(Q2 – 100)/{(100+ Q2)/2}] / [(1 – 0.50)/{(0.50 + 1)/2}] = 1

=100 + Q2= 3Q2-300

= 2Q2= 400

Q2= 400/2

Q2= 200

The new Quantity to be sold at $1 is 200

4 0
3 years ago
Empire Company is a manufacturer of smartphones. Its controller resigned in October 2017.
Helen [10]

Answer:

a. Schedule of cost of goods manufactured for October 2017.

Raw materials costs  ($264,000  + $18,000 - $29,000)   $253,000

Direct labor costs                                                                 $190,000

Depreciation on factory equipment                                      $31,000

Indirect labor cost                                                                  $28,000

Rent on factory facilities                                                        $60,000

Utilities expense $12,000  × 75%                                            $9,000

Insurance expense $8,000 × 60%                                         $4,800

Add Opening Work in process Inventory                            $20,000

Less Closing Work in process Inventory                             ($14,000)

Cost of goods manufactured                                               $581,800

b. Income statement for October 2017.

Sales Revenue                                                                     $780,000

Less Cost of Goods Sold :

Opening Finished goods Inventory                $30,000

Add Cost of goods manufactured                 $581,800

Less Closing Finished goods Inventory        ($50,000)   ($561,800)

Gross Profit                                                                           $218,200

Less Expenses :

Advertising expense                                        $90,000

Selling and administrative salaries                  $75,000

Depreciation on sales equipment                   $45,000

Utilities expense 12,000  × 25 %                        $3,000

Insurance expense 8,000 × 40 %                      $3,200   ($216,200)

Net Profit / Loss                                                                       $2,000

Explanation:

First, Prepare the cost of goods manufactured for October 2017 and include the amount in the calculation of cost of goods sold.

In the cost of goods manufactured schedule, include only the costs that are factory related.

Then, Prepare the income statement for October 2017, making sure to adjust the Utilities and Insurance expenses appropriately.

4 0
3 years ago
A registered investment adviser and its representatives have been registered in a State for the past 5 years. The current regist
n200080 [17]
D neither the investsmeant advice nor the investment adviser representatives are required to reregister
in the state
8 0
2 years ago
g Depreciation refers to which one of the following? The amount of money that is lost over a period when services are underutili
Ganezh [65]

Answer:

The answer is D

Explanation:

Depreciation is best described as An estimate of how much of a tangible asset has been used during an accounting period: considered an expense that does not require any cash outflow under the accrual basis accounting.

Depreciation reduces the value of an asset and it reduces it over the life span of an asset. Depreciation is a non cash reduction. Depreciation tells us how much the value of an asset has reduced.

The formula is (cost of the asset - any residual value) ÷ the number of useful life span

6 0
3 years ago
On January 1, 2021, Everglade Company purchased the following debt securities and properly accounted for them as securities avai
hammer [34]

Answer:

Unrealized gain = $12,000

Explanation:

Security    Cost A     Fair value B    Unrealized amount (B-A)

ABC          $40,000    $55,000                 $15,000

DEF           $72,000    $65,000                -$7,000

XYZ           $16,000     $20,000                 <u>$4,000</u>

                                                        Total    <u>$12,000</u>

So, the unrealized gain to be recorded is $12,000

4 0
2 years ago
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