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2 years ago

How does the targeting process in entrepreneurship differ from the targeting process in traditional marketing

1 answer:

4 0

Targeting process in entrepreneurship differ from traditional marketing because the entrepreneurs begin the process with the idea for a new product.

Targeting process refers to process of breaking-down a market into segments to facilitate concentration of marketing efforts on target segments.

An entrepreneur will first seek to come up with a product idea in the targeting process whereas the marketer will seek to identify the market segment to concentrate on.

In conclusion, the targeting process in entrepreneurship differ from traditional marketing because the entrepreneurs begin the process with the idea for a new product.

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12. Although online shopping accounts for 8 percent of retail sales, it is still a significant share of

White raven [17]

Answer:

true

Explanation:

Online shopping is an electronic form of shopping for goods and services. And allows for the direct buyer and seller to interact with each other over the internet. In the U.K about 20% and Australia has 7% and the U.S. about 10% of the retail sales take place through this.

The markets in Asia-Pacific have increased the international sales to over 30% giving them over $433 billion in revenue. As customer buying behavior in the digital environment is changing. As every customer is becoming more and more interactive, and though the online reviews customers are influencing other potential buyers in the world.

Besides they have a various option like Cash on delivery (C.O.D.) , the direct debit, EFT , the gift cards , the Invoice, especially popular in some markets/countries, the postal money order etc, hence many new companies are adopting these online shopping channels it will grow more in the future.

8 0

3 years ago

In ____ price discrimination, the monopolist charges each consumer the highest price that purchaser is willing to pay for each u

Advocard [28]

Answer:

Perfect price discrimination

Explanation:

Perfect price discrimination or first degree discrimination is defined as one in which the maximum price possible is charged for each unit of product sold to the customer.

This is aimed at capturing all consumer surplus for the monopoly.

This can occur for example in cases where the zip code of clients is located in an area where wealthy people reside.

The monopolist can charge the highest possible price based on the location.

6 0

3 years ago

A local car dealership's average customer comes in once every 10 years, and spends $30,000 on each purchase. An average customer

Papessa [141]

The lifetime value of a local car dealership for an average customer is $120,000.

<h3>What is meant by a lifetime value?</h3>

A lifetime value is an average amount that is being earned by the customer over the time period till its being a customer of a particular service.

Given values:

Amount spent by customer: $30,000

The average number of years: 40 years

Computation of lifetime value (LTV):

$\rm\ LTV=\rm\ Average \rm\ number \rm\ of \rm\ years \times\ \rm\ Amount \rm\ spent \rm\ by \rm\ a \rm\ customer\\\rm\ LTV= 40 \times\ \$30,000\\\rm\ LTV=\$120,000$

Therefore, when a customer spends $30,000 on a car dealership for 40 years of average time then its lifetime value would be $120,000.

Learn more about the lifetime value in the related link:

brainly.com/question/16926291

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5 0

1 year ago

1. Alex Meir recently won a lottery and has the option of receiving one of the following three prizes: (1) $74,000 cash immediat

sergey [27]

Answer:

1. The PV of option 3 which is $90,000 is the highest. Therefore, Alex will choose option 3 because it has the highset PV.

2. The fund balance after the last payment is made on December 31, 2027 will be approximately $1,934,302.71.

Explanation:

1. Assuming an interest rate of 6%, determine the present value for the above options. Which option should Alex choose?

Alex will choose the option with the highest present value (PV). The present value of each option can be determined as follows:

Option 1: $74,000 cash immediately

PV of option 1 = $74,000

Option 2: $26,000 cash immediately and a six-period annuity of $8,300 beginning one year from today

PV of $26,000 cash immediately = $26,000

PV of a six-period annuity of $8,300 beginning one year from today can be determined using the formula for calculating the present value of an ordinary annuity as follows:

PV of $8,300 annuity = P * ((1 - (1 / (1 + r))^n) / r) …………………………………. (1)

Where;

PV = Present value of the $8,300 annual payments today =?

P = Annual payment = $8,300

r = interest rate = 6% = 0.06

n = number of years = 6

Substitute the values into equation (1) to have:

PV of $8,300 annuity = $8,300 * ((1 - (1 / (1 + 0.06))^6) / 0.06)

PV of $8,300 annuity = $8,300 * 4.9173243260054

PV of $8,300 annuity = $40,813.79

Therefore,

PV of option 2 = PV of $26,000 cash immediately + PV of $8,300 annuity = $26,000 + $40,813.79 = $66,813.79

Option 3: a six-period annuity of $15,000 beginning one year from today

The PV of option 2 can be determined using the formula for calculating the present value of an ordinary annuity as follows:

PV of option 3 = P * ((1 - (1 / (1 + r))^n) / r) …………………………………. (2)

Where;

PV of option 3 = Present value of the $15,000 annual payments today =?

P = Annual payment = $15,000

r = interest rate = 6% = 0.06

n = number of years = 6

Substitute the values into equation (2) to have:

PV of option 3 = $15,000 * ((1 - (1 / (1 + 0.06))^6) / 0.06)

PV of option 3 = $15,000 * 4.9173243260054

PV of option 3 = $90,000

Based on the calculations, the PV of option 3 which is $90,000 is the highest. Therefore, Alex will choose option 3.

2. Assuming that the bank account pays 7% interest compounded annually, what will be the fund balance after the last payment is made on December 31, 2027?

This can be determined using the formula for calculating the Future Value (FV) of an Ordinary Annuity is used as follows:

FV = M * (((1 + r)^n - 1) / r) ................................. (3)

Where,

FV = Future value of the deposits after 10 years =?

M = Annual deposits = $140,000

r = annual interest rate = 7%, or 0.07

n = number of years = 10

Substituting the values into equation (3), we have:

FV = $140,000 * (((1 + 0.07)^10 - 1) / 0.07)

FV = $140,000 * 13.8164479612795

FV = $1,934,302.71

Therefore, the fund balance after the last payment is made on December 31, 2027 will be approximately $1,934,302.71.

4 0

3 years ago

Which of the following is not an advantage of personal selling?

Mekhanik [1.2K]

Answer:

C.)relatively low cost

Explanation:

Personal selling involves the use of a sales team to engage customers and convince them to buy. It is a one-on-one interaction between the seller and potential buyer.

Personal selling is a costly affair. Each salesperson can only engage one client at a time. To engage a large number of customers, a big team of salespeople is required. The hiring of good salespeople, training them, salaries, bonuses, and commissions can be expensive.

5 0

3 years ago