1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Likurg_2 [28]
3 years ago
8

The following exercise will help you identify how business owners function within the different stages of retailing. The wheel o

f retailing describes how new forms of retail outlets enter the market. Usually, they enter as low-status, low- margin stores such as a drive-in hamburger stand with no indoor seating and a limited menu. Gradually, these outlets add fixtures and more embellishments to their stores (in-store seating, plants, and chicken sandwiches, as well as hamburgers) to increase the attractiveness for customers. With these additions, prices and status rise. As time passes, these outlets add still more services and their prices and status increase even further. These retail outlets now face some new form of retail outlet that again appears as a low-status, low-margin operator and the wheel of retailing to as the cycle starts to repeat itself.
As defined by the Wheel of Retailing, rank the following items in their positions on the wheel as time passes.
a) Rank the options below. Haute Mexican-To serve the customers seeking a fine dining experience, Maria opens an upscale, stand-alone, expensive restaurant serving haute cuisine.
b) Joe's Burrito Box-Recognizing an opportunity to sell low-price, no-frills lunches, Joe's Burrito Box sells boxed burrito lunches out of a mobile cart on Main Street.
c) Maria's Taco Stand-First to introduce Mexican food to the market, Maria opens a no-frills taco stand offering budget meals.
d) Maria's Mexican Restaurant-As Maria's Mexican food grows in popularity, Maria opens a restaurant in the local mall. The restaurant offers a wider menu, sit-down dining, and higher prices.
Business
1 answer:
ra1l [238]3 years ago
7 0

Answer:

a) Haute Mexican-To serve the customers seeking a fine dining experience, Maria opens an upscale, stand-alone, expensive restaurant serving haute cuisine.  STAGE 3 - MATURITY PHASE (STRONGLY ESTABLISHED, HIGH PRICE)

b) Joe's Burrito Box-Recognizing an opportunity to sell low-price, no-frills lunches, Joe's Burrito Box sells boxed burrito lunches out of a mobile cart on Main Street.  STAGE 1 - ENTRY PHASE (PENETRATIVE WITH LOW MARGINS)

c) Maria's Taco Stand-First to introduce Mexican food to the market, Maria opens a no-frills taco stand offering budget meals.  STAGE 1 - ENTRY PHASE (PENETRATIVE WITH LOW MARGINS)

d) Maria's Mexican Restaurant-As Maria's Mexican food grows in popularity, Maria opens a restaurant in the local mall. The restaurant offers a wider menu, sit-down dining, and higher prices. STAGE 2 - GROWTH PHASE (SOMEWHAT ESTABLISHED, HIGHER MARGINS)

You might be interested in
Who dismissed congress's plan to spend $40 billion to end the depression, saying it was impossible to "squander our way to prosp
Blababa [14]

The answer is President Herbert Hoover. His approach to depression were:

1.       He tried to restore confidence in the economy by asking business not to cut payrolls and labor not to ask for higher wages. Most of them initially agreed until 1931.

2.       He also cut taxes and pressed the Federal Reserve Board to cut interest rates to make borrowing easier.

3.       He procured $2 billion for public works projects.

4.       He established the Reconstruction Finance Corporation and the Home Loan Bank Act to assist businesses and head off some foreclosures but he was a fiscal conservative who said we couldn't "squander our way to prosperity," and so he disparate further spending plans.

3 0
3 years ago
Read 2 more answers
A purely domestic firm sources its products, sells its products, and raises its funds domestically
Yanka [14]

Answer:

The correct answer is option D.

Explanation:

A purely domestic firm can face competition from an MNC. An MNC has the advantage of more than one sources of inputs and more than one product market. But the domestic firm also possesses an advantage of having a thorough knowledge of the local market as they have operated there unlike MNCs.  

The domestic even though operating in the domestic territories may still face foreign exchange risk. This is because their competitors may be operating internationally.

3 0
2 years ago
Whether a firm has growth or value and how this firm characteristic affects an estimate of the cost of equity is called the ____
Dahasolnce [82]
It is called value factor. There are two kinds of value factor one is present value factor and second is future value factor. The business or anything in the business has their value on their own. The future value factor is used to calculate the future value of the amount per dollar of its present value. It is the amount greater than a dollar and you can see this on the table when you calculate the future value or FV. Present Value factor is based on the time and money when you borrow or it is the debt that can grow in the span of time. 
5 0
3 years ago
Starbucks' efforts to expand its distribution beyond traditional outlets, including other restaurant chains, hotels, airlines, u
sweet-ann [11.9K]

Answer: False

Explanation:

Starbucks efforts to expand have yielded fruit as it is now more accessible to its ever increasing customer base which is as a result of the brand's recognition and reputation.

They are now more successful as a result and this is proven by the fact that Starbucks revenue has been rising since 2013 from around $14 billion to $26.5 billion in 2019.

8 0
2 years ago
Kankakee Cosmetics Company is planning a one-month campaign for December to promote sales of one of its two cosmetics products.
Masja [62]

Answer:

Kankakee Cosmetics Company

Differential Analysis for Moisturizer:

Relevant Costs:

Direct Materials $12.00

Direct labor $8.00

Var. Factory O/H $3.00

Var. selling expenses $2.00

Total Variable costs = $25.00

Unit Selling price = $35.00

Contribution = $10.00

Total contribution = $400,000

Advertising, etc. = $150,000

Differential Profit = $250,000

Differential Analysis for Perfume:

Relevant Costs:

Direct Materials $20.000

Direct labor $10.00

Var. Factory O/H $6.00

Var. selling expenses $3.00

Total Variable costs = $39.00

Unit Selling price = $55.00

Contribution = $16.00

Total contribution = $480,000

Advertising, etc. = $150,000

Differential Profit = $330,000

Explanation:

A differential analysis is a managerial accounting technique that considers factors that are unique to each decision and uses those factors to arrive at a decision.

It is also called incremental analysis.  In the analysis, differential revenue of each alternative and their differential costs are compared to find the alternative that yields the greater profits.

Fixed costs or sunk costs are not taken into account with this type of analysis.  Only the variable costs are considered, because they make the differences.

6 0
3 years ago
Other questions:
  • Portfolio income included all of the following EXCEPT:
    7·1 answer
  • If Andre has a child and adds another dependent to his tax form for withholding, the company will withhold a lower amount of inc
    6·1 answer
  • Prepare an income statement for Bill’s Extreme Bowling, Inc., for the month ended July 31. (This income statement would be consi
    10·1 answer
  • The bottom-up approach for estimating times and costs that uses costs from past projects that were similar to the current projec
    12·1 answer
  • If you use credit what are you creating
    5·2 answers
  • Which of the following statements is incorrect with regard to product costs? A. Product costs flow from the balance sheet to the
    12·1 answer
  • JPix management is considering a stock split. JPix currently sells for $70 per share and a 3-for-1 stock split is contemplated.
    9·1 answer
  • Gabrielle does not want to work a nine-to-five job. Still, she has to work to support herself. She accepts a job as a restaurant
    10·2 answers
  • What is a question that should be asked about accounts payable when forecasting?
    14·1 answer
  • Prompt: Write an e-mail to a government or school official in which you propose an effective solution to a problem in your commu
    11·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!