Answer:
c. measures changes in quantity demanded more accurately than elasticity.
Explanation:
Base on the scenario been described in the question, slope measures changes in quantity demanded very accurately compared to elasticity. The main for this reason is that m, slope and elasticity are not the same concepts. Slope evaluates the
flatness or steepness of a line in terms of the evaluating units for price and quantity, while elasticity evaluates the relative response of quantity to changes in price.
Answer:
B. Implied warranty of fitness
Explanation:
An implied warranty of fitness for an specific purpose refers to the fact that if the seller of a product knows that the product will be used for an specific purpose and that the buyer is purchasing that product for that using it that way, then an implied warranty of fitness is formed. In this case, the seller knew that Palmer was going to carry 5,000 pounds in the truck and therefore, by offering a certain truck to Palmer, an implied warranty of fitness was formed stating that the truck could carry that load.
Answer:
D. Selling on non-price factors, such as design or customer service
Explanation:
One of the main goals of a Focused differentiator strategy in business is to is to secure a competitive advantage over competitors by offering products that appeal to specific non-price and unique preferences of customers.
The strategy is to go for <u>products that will appeal to a well-defined group of buyers</u>. This strategy is the opposite of the Broad Differentiation strategy that aims at different or multiple market segments or multiple buyer groups for a product.
A good example is the development of a particular high-end product car manufacture line which is specifically targeted at high-end citizens in a society who will go for them despite their costs just because of their premium looks, additional features (off-road capabilities, 0-60 miles in 4 seconds and leather trimmings) among others. This is a focused differentiator
Answer:
The correct answer is letter "E": Kurt Lewin.
Explanation:
German psychologist and philosopher Kurt Lewin (1890-1947) developed a Change Model involving three steps: <em>Unfreezing, Changing</em>, and <em>Refreezing</em>. It represents a very simple model to understand the change process compared to the psychical matter state of the ice. The model starts by creating the idea in the organization that something must not continue to be the same (<em>unfreezing</em>), then moving towards the new desired behavior (<em>changing</em>) and, finally, solidifying that new behavior as the norm (<em>refreezing</em>).
Answer: Implement a mass marketing campaign
Explanation:
From the question, we are informed that Soon-Yi Park’s chain of travel agencies has identified the lesbian, gay, bisexual, and transgender community as a growing market that spends an increasing percentage of its income on travel.
The least effective component of a marketing plan for Soon-Yi to take advantage of this opportunity is implementing a mass marketing campaign. Rather, Soon-Yi should use a strategy relating to those in LGBT.