The first marketing law suggests that in order to be successful in the market, the marketers need to understand the customer's demand and identify the brand positioning of the product in the market. Therefore, the option C holds true.
<h3>What is the significance of marketing laws?</h3>
Marketing laws are the ones that are universally accepted principles followed by marketers in order to get successful position in the market. The first and foremost law tells about how one should position the brand in a market over the demand of customers.
Therefore, the option C holds true and states regarding the significance of marketing laws.
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The incomplete question has been completed below for better reference.
A. Understand customer's demands
B. Identify brand positioning
C. Both A and B
D. None of these
Answer:
The best way for the producer of Bubbles to differentiate itself from the foreign multinational is to create a specific market focus or niches for itself.
Explanation:
By creating a dedicated and specific market niche, the producer of bubbles have a specific target market out of the whole market whom they can influence consequently differentiating themselves from the multinationals.
Answer:
the supply will decrease causing an increase in pricing on mattresses.
Explanation:
Monopolism occurs when only one supplier produces a product with no other competitors. They control the supply and price of commodities.
Since other mattresse sellers have closed shop, the final seller will have monopoly of the mattresse market.
In order to maximise revenue he will reduce supply and increase prices so that customers will have no choice but to buy the scarce mattresse at higher price.
Answer: A firm will shut down in the short run if the total revenue that it would get from producing and selling its output is less than its C. variable costs.
Explanation: A variable cost is a cost that will vary depending on the level of output that is needed. If more units of an item are needed, the variable costs will likely rise whereas if the product numbers go down, they will too. A variable cost changes and a fixed cost stays the same regardless of the production amount.
Answer:
The answer is C.
Explanation:
The Federal Reserve acts as the Central Bank. And the tool it uses to control the economy is monetary policy and its tools are:
1. Reserve requirements
2. Open market operation
3. Discount rate(interest rate)
The Federal reserve can control the money supply in the eco economy through any of these tools.
For example, if Federal reserve wants to increase the money supply, they can do the following:
a) reducing the interest rate it lends commercial banks money, commercial banks too reduces the interest it charges businesses or households. With lower interest, households and businesses are encouraged to borrow, thereby increasing the money supply and vice-versa.
b) lowering the reserve requirements. Reserve requirement is the minimum balance commercial banks must have with the federal reserves. This is guided by law. Lowering the reserve requirements enable commercial banks to have more money to lend to their customers and vice-versa.
In all, Federal reserve use any of these tools to control money supply that is consistent with their target nominal interest rate.
