All categories

3 years ago

Using a hypothetical but specific example, explain how marketers use the concept of utility to sell items and make a profit

Business

1 answer:

chubhunter [2.5K]3 years ago

6 0

Answer:

Place utility

Explanation:

because if the person sells a certain item in a certain place then they can make extra money for it being needed in said place

You might be interested in

Organizational commitment can be defined as _____. the collection of feelings and beliefs that managers have about their organiz

Varvara68 [4.7K]

Answer:

the collection of feelings and beliefs that managers have about their organization as a whole.

Explanation:

Organizational commitment can be defined as the collection of feelings and beliefs that managers have about their organization as a whole.

Generally, when the employees working in an organization completely identifies and believe in the vision, mission, values and ethical standards of their organization, it simply means that they believe and are in agreement with what the organization is doing and would basically have a high level of loyalty because they are proud to be associated with what the organization stands for.

Hence, organizational commitment is important for the growth and development of an organization.

4 0

3 years ago

RuthAnn is 28 years old and is retiring at the age of 65. When she retires, she estimates that she will need an annual income of

inessss [21]

Answer:

Yes

Explanation:

From her current age of 28 to her retirement age of 65, RuthAnn has (65 - 28 =) 37 more years to work.

If she saves 11% of her annual income of $36,278.13 into a 401(k), she will be setting aside (11% * 36,278.13 =) $3,990.59 into the 401(k) account annually.

At 7.1% compounding rate, in 37 years, RuthAnn would have set aside an amount estimated by the future value of an annuity formula.

$FV = \frac{A(1+r)^{n} - 1}{r}$

where FV is the future value, the amount that would have been set aside,

A = is the annual savings,

r = is the compounding rate, and

n = is the number of years.

Therefore, the total amount that would be saved up after 37 years =

$FV = \frac{3,990.59(1+0.071)^{37} - 1}{0.071}$

= (3,990.59 * 11.6535)/0.071

= $654,990.31.

By spending $32,523 annually from an account earning 7.1% compound interest rate for 30 years, the present value of the total amount needed by RuthAnn today that will be sufficient for her retirement spending can be estimated using the present value of an annuity formula.

$PV = \frac{A(1 - (1+r)^{-n}}{r}$

= $PV = \frac{32,523(1 - (1.071)^{-30}}{0.071}$

= (32523 * 0.8723)/0.071

= $399,574.83.

Since the amount saved up ($654,990.31) is more than the total amount required for RuthAnn's retirement ($399,574.83), RuthAnn has more than sufficient to meet her Retirement goal.

Specifically, the amount she has saved up can support a maximum annual spending which can be estimated from the present value of an annuity formula.

$PV = \frac{A(1 - (1+r)^{-n}}{r}$

where PV = the amount saved up, $654,990.31,

A = the annual spending which we are estimating,

r = the 7.1% compound interest rate,

n = the number of years to retirement.

$654,990.31 = \frac{A(1 - (1.071)^{-30}}{0.071}$

= 654,990.31 = (A * 0.8723)/0.071

= A = 654,990.31/0.8723 * 0.071

= A = 53,312.29

Thus, the amount saved up can support a maximum retirement spending of $53,312.29, which is higher than the $32,523 annual income needed by RuthAnn for her retirement.

6 0

3 years ago

The United States agricultural marketplace, has noticed a trend toward more of a business orientation among large farmers, as op

Tamiku [17]

Answer:

The answer is: PEST Analysis

Explanation:

PEST (Political, Economic, Social, and Technological) Analysis are carried out to determine:

Political changes such as trade agreements between countries or new trade barriers (current US-China trade dispute)
Economic factors such as interest rates, exchange rates, inflation rate, and consumer confidence
Social factors such as population shifts, changing attitudes and lifestyles
Technological factors such as scientific advances, new materials, R & D, new technologies (internet)

4 0

3 years ago

In recent years, the government of Pakistan has established a support price for wheat of about $0.20 per kilogram of wheat. At t

nirvana33 [79]

Answer:

$800 million more

Explanation:

Amount spent each year under the government wheat price-support program = $0.2 × 10 billion = $2 billion

Amount spent each year in an unregulated market for Pakistani wheat = $0.1 × 12 billion = $1.2 billion

Amount spent more each year under the government wheat price-support program than otherwise would have been spent in an unregulated market = $2 billion - $1.2 billion = $800 million

7 0

3 years ago

18. Galaxy, a construction company, buys a particular brand of tiles manufactured by Tiles and Floors, an eco-friendly tile manu

Anuta_ua [19.1K]

OPTIONS:

a. Resources

b. Time

c. Scope

d. Cost

Answer:

a. Resources

Explanation:

Business constraints are factors or any aspect of the business environment that limits the smooth running of a business. They serve as impediments to the actualization of business objectives and goals.

The constraint faced currently by Galaxy is “resources”. The tiles they do procure from Tiles and Floors serve as one of the resources they need in their construction company. Since, the company supplying them these materials has been declared bankrupt and closed down, they are constrained by the unavailability of resources, which they need in their operations .

4 0

4 years ago