Answer: False
Explanation:
The VOLUME CONSOLIDATION Stage is where a company attempts to reduce the number of suppliers that it has and consolidates the volume of sales it does through them.
This strategy helps in having a better relationship with suppliers as well as earning a claim on their business which would go a long way in price negotiation.
Resources are not usually hired on a day-to-day basis to meet fluctuating requirements. This means that a. the maximum number of project resources should be hired for the project duration. b. if the workers are employed for the duration of the project and it may be necessary to pay them when idle or overtime when at peak demand. c. the actual work performed for each activity should be evaluated to inform the next activity of the number of workers needed. d. all projects should plan all tasks for one person to complete the activities to keep the person busy.
Answer:
C. the actual work performed for each activity should be evaluated to inform the next activity of the number of workers needed.
On the twentieth day of the month, room sales at the Motor Lodge Motel exceeded its breakeven point for the month. Revenue generated by room sales during the remaining days of the month will:_______.a. decrease in proportion to the additional room sales.b. cover the fixed costs associated with those additional room sales.c. be pure profit for the motel.d. increase at a faster rate than the costs associated with those sales.
Answer:
d. increase at a faster rate than the costs associated with those sales.
Explanation:
Revenue generated will increase at a faster speed than the cost associated with the sales because the fixed cost associated with the sales has alredy been covered and now the only cost which we have to deal is the variable cost only. So the returns / profit from the remaining days will also increase faster than the rate of the cost associated with them.
A job _______ involves placing information about job vacancies and qualifications on bulletin boards, company newsletters and/or on the organization's intranet to make existing employees aware of current vacancies.
Answer:
Posting
Explanation:
A job posting involves placing information about job vacancies and qualifications on bulletin boards, company newsletters and/or on the organization's intranet to make existing employees aware of current vacancies.
Posting: Job posting involve activity like putting all the requirement by the employer and number of vacancies in the post of bulletin board, Newspaper, company newsletters, etc to get applicants for the job, who can be further screened for the job role. There is one another method of internal job posting to make existing employee aware about job posting, for which they can also apply internally if required criteria match with the candidate. These job posting are posted through internal source of company like intranet or company email. This help the company to get right candidate for the job.
After an organization has determined which of the many segmentation variables it will use, and the segmentation process is complete and the data analyzed, the next step in the target market selection process is ______________.
Answer:
The next step in the target market selection process is Select Specific Target Markets.
Explanation:
The steps of the Target Market Selection Process. are:
Step 1: Identify the Appropriate Targeting Strategy.
Step 2: Determine Which Segmentation Variables to Use.
Step 3: Develop Market Segment Profiles. Segmentation process is complete
Step 4: Evaluate Relevant Market Segments. The data is analyzed.
The following step is:
Step 5: Select Specific Target Markets.
A market research survey is available for $10,000. Using a decision tree analysis, it is found that the expected monetary value with the survey is $65,000. The expected monetary value with no survey is $62,000. What is the expected value of the information from this sample?
Answer:
Therefore Expected Value of the information = $65,000+$62,000 - $10,000 = $117,000
Explanation:
If the market research survey is available for $10,000.
Using a decision tree analysis, it has been found that the expected monetary value with the survey is $65,000. The expected monetary value with no survey is $62,000.
Then the expected value of the information from this sample is the expected value of each outcome and deducting the costs associated with the decision
Therefore Expected Value of the information = $65,000+$62,000 - $10,000 = $117,000
The expected value of the information from the survey sample in this case is -$7,000. This is calculated by subtracting the expected value without the survey and the cost of the survey from the expected value with the survey.
Explanation:Expected value of the information from a sample in the context of market research and decision tree analysis can be calculated as the difference between the expected monetary value with the survey and the expected monetary value without the survey, minus the cost of the survey itself.
In this specific scenario, the expected value of information would be: $65,000 (with survey) - $62,000 (without survey) - $10,000 (cost of survey), which equals - $7,000.
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Wall Corporation exchanges old equipment for new equipment. The original cost of the old equipment was $100,000, and its accumulated depreciation at the date of exchange was $60,000. The new asset received had a fair value of $80,000 and a book value of $65,000. The journal entry to record this exchange will include which of the following entries? 1. Credit gain on exchange of asset $4000 2. Credit equipment $100,000 3. Debit accumulated depreciation $60,000 4. Debit equipment $80,000 5. Debit equipment $65,000 6. Credit equipment $80,000 7. Credit accumulated depreciation $60,000
Answer:
2.Credit Equipment 100,000
3. Debit accumulated depreciation 60,000
Explanation:
When trading equipments to determinate if there is or not a gain or loss we have to know if there is commercial substrance.
When that is the case then, we can post the difference in value as gain or loss.
When there isn't, we enter the new equipment for the amount of the net book value of the equipment to avoid recording gain or losses.
Equipment (new) 80,000 debit
Acc Dep- Equipment (old) 60,000 debit
Equipment(old) 100,000 credit
Gain at Disposal 40,000 credit
--to record when there is commercial substance--
Equipment (new) 40,000 debit
Acc Dep- Equipment (old) 60,000 debit
Equipment(old) 100,000 credit
--to record when there isn't--
In both cases, whe have to write-off the old equipment thus, debit the accumulated depreciation balance.
and credit the old equipment cost
Leisure is Select one: a. a good that is not counted in GDP. b. a good that is counted in GDP. c. neither a good nor a bad, and it is not counted in GDP. d. a bad as far as economists are concerned, because it is not tangible.
Answer:
a. a good that is not counted in GDP.
Explanation:
Leisure is not counted in GDP if the leisure activity does not have a market value, and is not exchanged in the markeplace.
For example, going for a walk, or sitting at a park to read are leisure activities that are not considered economically productive, and therefore, are not counted in GDP.
Your boss never gives you the benefit of the doubt. When you arrived late from lunch, he assumed that you had simply taken too much time. He never considered that the elevators were not working that day and the fact that you had to walk up 10 flights of stairs. Your boss is guilty of ________.a. self-serving bias.b. selective perception.c. fundamental attribution error.d. inconsistency.e. stereotyping.
Answer:
Your boss is guilty of Fundamental attribution error (C)
Explanation:
Fundamental attribution error is our tendency to explain someones behaviour based on internal factors such as personality while underestimating the effect external factors have such as situational influences.
Answer:
Fundamental attribution error.
Explanation:
In psychology, fundamental attribution error also called attribution effect or correspondence bias is the act of under emphasizing the situational explanations of an individual for the observed behavior of the individual while over emphasizing the personality based explanations for the behavior. It is sometimes described as the belief that people do whatever they want to do and what people do shows who they are.
In both examples mentioned in the question, the boss never gave the affected individual the benefit of doubt and he believed he wasn't saying the right thing.
John works for a consumer products company. His job is to use information to identify and define marketing opportunities, evaluate marketing actions, and monitor marketing performance. John's work involves:_______.
Answer:
The correct answer is marketing research.
Explanation:
Marketing research is the process that includes the actions of identification, collection, analysis and dissemination of information with the purpose of improving marketing decision making. Its implementation occurs basically for two reasons: (1) to solve problems, for example, determine the potential of a market; and / or (2) to identify problems, for example, to know why a product does not have the expected consumption. In essence, it seeks to meet the customer thus complying with the first premise of marketing.
What is considered one of the four major cost of quality​ categories?
Answer:
The four major cost of quality categories are:
Prevention costs
Appraisal costs
Internal failure costs
External failure costs
Explanation:
Prevention costs are incurred to ensure that products meet standard specification such that they can be seen as fit for purpose,hence the situation where customers return such goods is nipped in the bud
Appraisal costs are costs incurred to test whether products produced meet the prerequisite specification.An inspection cost is a typical example of prevention cost
Internal failure costs are costs expended in reworking and putting products in right shape when quality failure occurs in-house.
External failure costs are costs spent to remedy a quality failure situation when the goods have already been sold to customers.For instance, costs of warranties
A company allowed its employees to take a half hour lunch break. However, the break was uncompensated, and the employees were not permitted to leave the employer’s premises during the break. Nevertheless, these employees did leave their positions on the production line and eat in an employee lunchroom. They also went outdoors at their discretion. Should the employer be required under the FLSA to compensate these hourly production workers for their 30-minute lunch breaks? What about maintenance workers who might be recalled early from their lunch breaks if an equipment breakdown required it?
Final answer:
Under the FLSA, bona fide meal periods typically do not need to be compensated, but this depends on whether employees are relieved of all duties. If maintenance workers are often recalled from breaks, their lunch breaks may need to be compensated.
Explanation:
Under the Fair Labor Standards Act (FLSA), there is an expectation that employers provide certain breaks to employees. However, whether a lunch break should be compensated depends on its length and the restrictions placed on employees during that time. Short breaks are typically considered compensable work hours, but bona fide meal periods, usually lasting at least 30 minutes, during which an employee is completely relieved from duty, are not.
Since the employees described are not permitted to leave the premises and maintenance workers might be called back early, this could indicate that they are not completely relieved from duty during their breaks. However, if the lunch period is a bona fide break, it may not need to be compensated. Whether these breaks should be paid may depend on specific circumstances, including the degree of freedom the employees have during their breaks and whether being on-call affects their ability to use the break for their own purposes. If maintenance workers are frequently recalled, their breaks may be more likely to be compensable.
Central City was awarded two state grants during its fiscal year ending in September 30, 2011: a 2 million block grant that can be used to cover any operating expenses incurred during fiscal 2012, and a $1 million grant that can be used any time to acquire equipment for its police department. For the year ending September 30, 2011 Central City should recognize in grant revenue in its fund statements (in millions)
Answer: $1 million
Explanation: Grants could be considered as financial offering granted to an indivual, group or organization usually by the government in other execute beneficial projects.
In the scenario above, two grants were awarded to central city.
The first is a $2million block grant for operating cost incurred in 2012 fiscal year
The second $1million which can be used anytime.
Therefore, grant revenue for the year ending September 30,2011 should recognize the second grant which is the $1 million grant that can be used any time, that means the year 2011 inclusive. To acquire equipment for its police department.
The 2 million block grant should be recognized in the grant revenue for the year 2012.
Which of the following statements is true concerning the distribution of safe payments? The distribution of safe payments assumes that any capital deficit balances will prove to be a total loss to the partnership. Safe payments are equal to the recorded capital balances of partners with positive capital balances. The distribution of safe payments may only be made after all liabilities have been paid. In computing safe payments, partners with positive capital balances are assumed to absorb an equal share of any deficit balance(s). There are no safe payments until the liquidation is complete.
Answer:
The distribution of safe payments assumes that any capital deficit balances will prove to be a total loss to the partnership
Explanation:
When the capital ratio and the profits sharing ratio in a partnership are the equal to each other, it is from the profits that the capital deficits will then be balanced. Then in the cash distribution, this will make the partner that has the highest capital loss to have priority in the cash distribution.
When the partners then request for a distribution before all of the partnership assets are sold, schedule of safe payment is prepared.
Hence, The distribution of safe payments assumes that any capital deficit balances will prove to be a total loss to the partnership is true concerning the distribution of safe payment.
Answer: A
Explanation:
The distribution of safe payments assumes that any capital deficit balances will prove to be a total loss to the partnership. If the capital ratio and profits sharing ratio are same, any capital deficit will be balanced from the profits. It is gives the partner with the highest capital loss priority in cash distribution.
A schedule of safe payment is prepared when partners desire a distribution before all of the partnership assets are sold.
The common types of valuable resources and competitive capabilities that management should consider when crafting a strategy do not include Multiple Choice a. valuable human assets and intellectual capital. b. valuable physical and intangible assets. c. a skill, specialized expertise, or competitively important capability. market share, profit growth, and d. increases in stock price. e. valuable organizational assets and competitively valuable alliances.
Answer: Market share, profit growth and increase in stock price.
Explanation: Valuable resources and competitive capabilities which a management should consider while crafting include personnel with requisite skills and intellectual prowess who can help mould, shape and develop instinctive strategies required in a highly competitive market, such that the organization stays ahead of its competitors. The tactical ability to align and form productive alliances or mergers or synergy between one or more goal-oriented organization might be necessary. However, strategic planning in a competitive market require guts, courage, ingenuity, panache and zeal. These qualities enables an organization to develop strategic plans required to be in front of one's competitors. As opposed to being focused on market share, increase stock prices.
Andy decides to go skydiving for his 40th birthday. He signs a waiver, boards the plane and prepares for the jump. Everything is going smoothly until just before landing, a down draft forces Andy down at a much faster rate into the ground, causing injury to both of his legs. Andy will likely not be able to recover for his injuries under the defense of:__________.
Answer:assumption of the risk.
Explanation:Assumption of risk refers to a legal doctrine under which an individual is barred from recovering damages for an injury sustained when he or she voluntarily exposed him or herself to a known danger. ... Essentially, the defendant is claiming that the plaintiff knew the risk but took the chance of being injured anyway.
The most important elements of assumption of risk are that the person voluntarily and knowingly assumed the risks inherent to the dangerous activity. Furthermore, it is necessary for the defendant (the person the lawsuit was brought against) to demonstrate that the plaintiff knew of all risks at the time of the injury.
Assume a $1,000 Treasury inflation-protected bond has a 2 percent coupon and a face value at issuance of $1,000. The reference CPI is 202.34 and the current CPI is 203.18. What do you know for certain about this bond?
Answer:
The bond has a 2 percent coupon and a face value at issuance of $1000 which is the same with the Treasury inflation-protected bond. However, the reference Consumer Price Index (CPI) which is a measure of the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services has increased from 202.34 to 203.18. From this deduction, what I know for certain about this bond is that the interest payment have increased and the coupon rate is still 2 percent.
Final answer:
We know for certain that the bond has a 2 percent coupon, pays $20 in coupon interest, and has a new principal value of approximately $1,006.672 based on the current inflation rate.
Explanation:
To determine what we know for certain about this bond, we need to analyze the given information. We know that the bond has a 2 percent coupon, which means it pays 2 percent of its face value as interest. Since the face value is $1,000, the bond pays $20 ($1,000 x 2%) as coupon interest. We also know that the reference CPI is 202.34 and the current CPI is 203.18. The difference between these two values is 0.84 (203.18 - 202.34), which represents the inflation rate.
The Treasury inflation-protected bond is designed to adjust its principal value based on changes in the CPI. This means that the principal value of the bond will increase or decrease based on the inflation rate. In this case, because the current CPI is higher than the reference CPI, the principal value of the bond will increase. To calculate the new principal value, we multiply the current principal value by the inflation rate and add it to the current value. Using the formula, the new principal value would be $1,006.672 ($1,000 + $1,000 x 0.0084).
Therefore, what we know for certain about this bond is that it has a 2 percent coupon, pays $20 in coupon interest, and has a new principal value of approximately $1,006.672 based on the current inflation rate.
TUMI brand briefcases are very expensive, high-end briefcases that are generally sold in specialty luggage shops. Which of the following is the most promising target market for TUMI briefcases?a. police officers.
b. executives.
c. construction workers.
d. postal workers.
e. students.
The target market for expensive, high-end TUMI briefcases is likely to be executives due to their demand for professional products, high disposable income, and the functionality and design needs that these briefcases meet.
Explanation:Considering that TUMI brand briefcases are described as being high-end and expensive, the most promising target market is most likely executives. This demographic often seeks out high-quality, professional products that enhance their overall work image. Executives often have high disposable income and can afford the product. Furthermore, the functionality and design of TUMI brand briefcases cater to the organizational and aesthetic needs of these professionals. It is less likely for police officers, construction workers, postal workers, or students to be the prime target market due to factors like income level and the nature of their work or study.
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Situation: your section is playing water basketball as a team building activity at the company picnic. as the game starts, teenagers began running along the pool deck and jump into the pool. the leadership decides to continue the game and let the incident go. again a teenager jumps into the pool and this time he lands on your plant manager. the plant manager sinks to the bottom of the pool. you pull him to the side of the pool and he appears unresponsive. what actions do you take?
Answer:
Firstly, I will try resuscitating the Plant Manager while also calling on emergency service units to come help out. The game would immediately be suspended.
____ are best described as unique strengths, embedded deep within a firm, that allow a firm to differentiate its products and services from those of its rivals, creating higher value for the customer or offering products and services of comparable value at lower cost.
Answer:
Core Commpetencies.
Explanation:
Core competencies are best described as unique strengths, embedded deep within a firm, that allow a firm to differentiate its products and services from those of its rivals, creating higher value for the customer or offering products and services of comparable value at lower cost. Firm can attain sustainable competitive advantage on the bsae of their core competencies as well. Every organization should work hard to find out the different products, services, channels and technology in order to generate not only sales but better positioning in the market as well which then will be harded for the competitors to imitate and copy.
The record of all accounts and their balances used by a business is called a:
a. ledger (or general ledger).
b. journal.
c. book of original entry.
d. balance column journal.
e. general journal.
Answer:
A) ledger (or general ledger).
Explanation:
A company's general ledger includes all the transactions carried out by the company. Each transaction is recorded using the accounting system of debits and credits. The general ledger should basically track down every transaction carried out by the company during all of its history.
The record of all accounts and their balances used by a business is called a ledger or general ledger. It is a crucial part of the financial system of a business and helps in preparing other financial statements. Other options like journal, book of original entry etc. are also part of the accounting system but serve different purposes.
Explanation:The record of all accounts and their balances used by a business is known as a ledger or specifically a general ledger. The ledger is an important part of the financial system of a business as it encompasses every financial transaction made by the company. Consider it like a master document where all its financial data is stored and organized. These ledgers then help in preparing other financial statements like balance sheets, income statements etc.
The other options mentioned here are also part of a company's accounting system, but they serve different purposes. A journal, for instance, is the original record where transactions are first entered. A balance column journal and a general journal are both types of journals, with the first one having separate columns for debit and credit balances and the latter used for recording transactions not documented in other specialized journals.
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1.The property in a mixed market economy likely is ____.
2. Most of the property in command economies is owned by ____. The citizens of a command economy are likely to own property than citizens of a mixed-market economy.
Economics is the detailed study under the social studies that entail an individual or the market about the production, distribution, supply, consumption, and exchange of activities. There are micro and macroeconomics.
1. The property in a mixed market economy likely is Private.
2. Most of the property in command economies is owned by Government.
3. The citizens of a command economy are likely to own less property than citizens of a mixed-market economy.
A mixed market economy is a type of economy having the combination of both the free market and a commanded economy. Generally, the markets are considered to be under a mixed market economy only, this is because there is no perfect capitalist market or economy in the world.
A commanded economy is referred to as the economy that usually includes the autonomy of the demand and supply. The main power of the economy and the subtle of the market is under the government policies and government salience.
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Answer:
1.privet and public
2.governments
3.less
Explanation:
When a seller breaches a sales contract, the Uniform Commercial Code (UCC) provides the buyer with an option to take immediate steps by canceling the contract and purchasing substitute goods from another vendor in order to continue business operations. This right is known as _____.
Answer:
Cover
Explanation:
There are various rights which protect buyers from any sort of misconduct by the sellers. This right is known as 'Cover' which force sellers to follow a contract and avoid unethical behaviour. If sales contract is not followed, buyers have a Cover right to immediately cancel the contract and look for another vendor to continue business operations.
The sustainability of a competitive advantage depends upon the rate of obsolescence of the core competence, the availability of substitutes for the core competence, and the imitability of the core competenc e T/F
Answer:
The correct answer is True.
Explanation:
Currently, market competition, traditional conditions and factors, such as labor, access to financial resources and raw materials, offer less competitive advantages than in the past. Current trends require that
the top executives of the companies consider new concepts for their organizations, it is necessary to change the current way of seeing the organizations.
As a first step, it is necessary to visualize the company as a set of heterogeneous resources, capabilities and core skills that can be used to create an advantage over other companies in the market. This implies that each company has resources and capabilities that other companies do not have, at least not in the same combination. Resources are the source of capabilities, some of these lead to the development of core skills. Using core skills, companies can develop their activities better than their competitors. In essence, this new overview bases the strategy in terms of a unique competitive position, rather than operational efficiency.
As a source of competitive advantage, core skills distinguish a company at the competitive level and reflect its personality. These skills arise over time through an organizational process that consists of accumulating and learning to take advantage of the various resources and capabilities. As an ability to take action, core skills “... constitute the essence of what makes an organization unique in its ability to offer value to customers during a
long period".
The development of human resources prepares individuals to perform new functions and fulfill more specific responsibilities, simultaneously constitutes a powerful weapon against phenomena such as the obsolescence of staff knowledge, social and technical changes and the turnover rate .
Answer: True
Explanation: The rate of obsolescence of the core competence affects the sustainability of competitive advantage of a company whereby the managers must acquire modern analytical strategies and administrative formats.The less availability of the substitutes for the core competence the more the sustainability of competitive advantage. The less imitable and more innovative the core competence is, the more the sustainability of competitive advantage. This means it should be difficult to duplicate for the competitive advantage to be sustained.
Online auctions are: a. based on the barter business model. b. used to bring buyers and sellers together in a real marketplace. c. cost-effective for selling excessive inventory. d. useful when goods already have a set price in the marketplace.
Answer:c. cost-effective for selling excessive inventory.
Explanation:An online auction is an auction which is held over the internet.
An online auction is similar to a traditional auction. You bid against others for an item. ... When you enter an auction to place a bid, the site's computers determine the amount you need to bid in order to become the highest bidder. You can accept this amount or enter your own bid.
Final answer:
Online auctions are cost-effective for selling excessive inventory and are designed for price discovery through bidding, rather than for goods with a set price in the marketplace.
Explanation:
Online auctions are not based on the barter business model, instead, they serve as a digital platform for buyers and sellers to transact, often powered by the dynamics of supply and demand. They are particularly cost-effective for selling excessive inventory, as they can quickly connect a seller with a large audience of potential buyers. Additionally, auctions are suitable when the value of goods is not predetermined, allowing the market to set the price through the bidding process. While it may seem that auctions could be used when goods have a set price in the marketplace, the essence of an auction is for the price to be discovered through bidding, rather than set ahead of time.
What is the first step in the marketing research process?
The first step in the marketing research process is defining the problem or identifying the research objectives. This involves stating what you want to learn or understand. This step is critical as it guides the entire research project.
Explanation:The first step in the marketing research process is the formulation of a clear problem definition or identification of the research objectives. This involves clearly stating what exactly you wish to learn or understand so that you can design your research to answer these questions. For example, a company might want to understand their target market's preferences or determine customer satisfaction levels. This step is crucial as it sets the direction for the entire research project.
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Organic Market sells high-quality products and grocery items that are unique to their area; in addition it offers delivery for customers who are unable to leave their home and a number of regular workshops regarding eating healthy. By offering these types of products and services, Organic Market is pursuing a _____ strategy. Group of answer choices
Answer:
focused differentiation
Explanation:
A focused differentiation strategy requires offering different or unique goods or services that satisfy the demands of a very narrow market (niche market). This type of strategy is usually carried out to either focus the company's efforts in satisfying a specific demographic market or focusing on a specific sales channel.
Hamburger Co has determined that their lowest total cost production technology is $460. If machines cost $100 and workers cost $40 what number of workers produces this cost of production, assuming Hamburger Co has already determined it will purchase 3 machines?
Answer:
4 workers
Explanation:
The cost that Hamburger Co can incur at this time is $460.
When producing the total cost is equal to fixed cost less variable cost.
Fixed cost includes nonmoveable assets that assist in production, such as machinery. The cost is fixed.
Variable costs are those costs that change in the course of production and can be varied depending on need.
Total cost = Fixed cost + variable cost
460= (3*100)+ variable cost
Variable cost= 460- 300= $160
Number of worker= Variable cost/ cost of each worker
Number of worker= 160/40= 4 workers
Organizations can achieve a competitive advantage by using their resources to: Group of answer choices duplicate the value a competitor firm provides to its customers. create strategies that are simultaneously being implemented by competitors. foster competitive inertia. provide greater value for customers than competitors can.
Organizations can achieve a competitive advantage by providing greater value for customers than competitors can.
Explanation:In order to achieve a competitive advantage, organizations can use their resources to provide greater value for customers than competitors can. This can be done by offering unique products or services, superior customer service, or innovative features that set them apart from competitors.
For example, a company may offer a product that is more reliable, durable, and efficient than similar products on the market. This provides greater value to customers and gives the organization a competitive edge.
By focusing on providing superior value to customers, organizations can attract and retain more customers, increase market share, and ultimately achieve a competitive advantage over their competitors.
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Final answer:
Organizations gain a competitive advantage by providing greater value to customers than their competitors, following either a cost leadership or a product differentiation strategy, and playing to their core competencies.
Explanation:
Organizations can achieve a competitive advantage by utilizing their resources to provide greater value for customers than competitors can. According to Michael Porter's competitive strategy frameworks, firms can either adopt a cost leadership strategy or a product differentiation strategy. Companies aiming for cost leadership focus on minimizing costs to be able to offer goods or services at lower prices, while differentiation involves offering unique features that stand out from competitors. However, trying to achieve both cost leadership and differentiation can risk a firm's strategic focus, potentially getting "stuck in the middle" with neither clear advantage. Moreover, firms can also seek to leverage their core competencies, which are particular strengths in specific areas of their operations that provide unique value and create opportunities for improved profitability.
How does the quantity supplied of a good with a large elasticity of supply react to a price change
The quantity supplied of a good with a large elasticity of supply react to a price change as "it will be very sensitive to price change".
Explanation:
Producer tolerance to shifts in the quality of its goods or services. Generally speaking, if prices rise the supply does so. Supply elasticity is calculated as the ratio of proportionate variability in the quantity delivered to the proportionate price change.
The amount given of a good with a high supply elasticity dramatically responds to a change in price. A small price increase induces a large supply increase and a small price decline triggers a significant supply drop. Supply elasticity is an indicator of an industry or a producer's sensitivity to price fluctuations for its product. Also considerations are the availability of critical resources, technological innovation and the number of rivals that create a product or service.
If quantity supplied of a good has a large elasticity of supply (greater than one) then the reaction is elastic.
Explanation:Elasticity of supply refers to the response that is generated by the manufacturers or producers about the price of the product based on the quantity that is demanded. When the prices of any goods or services increases the supply also increases.
It is the relationship between the quantity of the goods and devices that is supplied to the price changes of that goods or services.Elasticity of the supply refers ratio of the change in the quantity of goods and services that is being supplied to the percentage change in price of that product or services. If quantity supplied of a good has a large elasticity of supply (greater than one) then the reaction is elastic.
Porsche AG uses the label "Top Guns" to describe one segment of its customers, namely those who care about power and control and who expect to be noticed. Such a profile would be based on which type of segmentation?
A) demographic
B) occupational
C) psychographic
D) behavioral
E) gender
Answer:
The correct answer is C. Psychographic
Explanation:
This type of segmentation specializes in the study of the consumer's psychological traits and other aspects inherent in his life, which can be likes, lifestyle, interests, desires, etc. Under this segmentation, it is possible to get much closer to the ideal consumer, although it takes a lot of effort to implement it.
Answer:
C) psychographic
Explanation:
Psychographic segmentation is one of the useful types of market segmentation used in categorizing a market target to be reached, of which such categorization into subgroups is based on traits such as the values, status, attitudes, interest, beliefs, motivations or interests of the target market. The target market is categorized into groups in this regard, with each group or segment having one or more of the listed traits in common. The label given by Porsche AG to a segment of its customers he described as “Top Guns”, obviously indicates it profiled his customers based on psychographic traits.