Answer: Public Relations
Explanation: The elements of a promotional marketing mix are the resources an organisation engages in its marketing promotion. They are:
Advertising, public relations, sales promotion, direct marketing and personal selling.
The above listed elements have there unique effect on the sales if an organisation.
Advertising is used to create an awareness of the product to the consumer using all forms of advertising such as radio jingle television advert, billboards etc.
Public relations is used to find out the effect of the products in the market and also to get feedbacks from consumer which will enable mgt to plan on ways to correct any issue observed.
Sales promotions are ways of giving to the consumers fee products as rewards for loyalty
Direct marketing is the use of marketing officers that will speak to consumers personally and try convincing them to try the products
Personal selling is the act of selling the products one on one to customers
Answer: Option (A) is correct.
Explanation:
It was given that consumer prefers Adidas to puma brand soccer cleats but he buys puma brand soccer cleats. This is only because of the price theory and rational consumer choice. We know that a rational consumer will choose a product with a lower price. Both puma and Adidas brand soccer cleats are substitutes, thus, if the price of puma cleats is lower than the Adidas cleats then he should prefer puma brand soccer cleats.
Answer:
B. it ignores the firm's demand curve.
Explanation:
A: With the help of average cost pricing, the fixed cost can quickly estimate. Therefore, it cannot be the answer.
C: The average cost must consider the effect of variable cost. Therefore, it is also the wrong statement.
D: It is easy to estimate profit if there is an average cost pricing.
B: average-cost pricing always ignores the demand curve because it is a "U" shaped curve. Because after a certain level of product selling, the average cost is increasing. On the other hand, demand curve is such that if the price decreases, the quantity demanded increases. Therefore, it is a downward slopping curve. Hence, it is understood that, average-cost pricing ignores demand curve.
The price and quantity of computers that should be produced to maximize the firm’s profits will be $360 and 80 computers.
The demand curve for College Computers is given as (Q) = 800 - 2P where, P = 400 - 0.5Q.
Therefore, the weekly total revenue will be:
= (400 - 0.5Q) × Q
= 400Q - 05Q²
Marginal revenue = 400 - Q
Weekly cost of producing computers will be:
= 1200 + 2Q²
Marginal cost = 4Q
Maximum profit will b earned when MR = MC
Therefore, 400 - Q = 4Q
Collect like terms
4Q + Q = 400
5Q = 400
Q = 400/5
Q = 80
Quantity = 80 units
Therefore, the price will be:
P = 400 - 0.5Q
P = 400 - 0.5(80)
P = 400 - 40.
P = 360
The price is $360.
The weekly total revenue will be:
TR = price × quantity.
TR = 360 × 80
TR = $28800
The total cost will be:
TC = 1200 + 2(80)²
TC = 1200 + 12800
TC = 14000
Therefore, the profit will be:
= TR - TC
= $28800 - $14000
= $14800
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It can be C because it's accepting the risk to do it
But it can also be B because it's sharing the risk with everyone else
