Answer: Equilibrium
Explanation:
A population is said to have gotten to a state of equilibrium, when there is no observable change in the traits found in that population overtime. This implies that the adaptive trait found in the population no longer changes.
Genetic equilibrium is the state a population reaches when the average value of an adaptive trait no longer changes.
Explanation:In biology, the state a population reaches when the average value of an adaptive trait no longer changes is called genetic equilibrium. It occurs when the forces of genetic variation and natural selection balance each other, resulting in a stable average value for the trait. In this state, the population experiences no significant changes in the average value of the adaptive trait over time.
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Gameco is a corporation formed to provide sports betting services to the public. For this purpose, it enters into employment contracts with various individuals. But the state where Gameco plans to operate does not permit sports betting services. Accordingly, these contracts are:_____________
Answer: Void
Explanation:
According to the given question, the Gemeco is one of type of corporation that are formed for providing the various types of sports services to public.
The given contract are the void as it is refers to the legal effect and one of the type of agreement that consider the immoral consideration. Void is refers to the employment contract that has no legal force and effect on the operation that does not permit any type of the services forcefully.
Therefore, Void is the correct answer.
A trader enters into a one-year short contract to sell an asset for $60 when the spot price is $58. The spot price in one year proves to be $63. What is the traders gain or loss one-year from now?
Answer:
$3 loss
Explanation:
Given that
Selling value of an asset = $60
Spot price at that time = $58
The Spot price in one year = $63
So, the now the gain or loss for one year would be
= Selling value of an asset - Spot price in one year
= $60 - $63
= $3 loss
Since we have to find out for one year so we considered the price for one year i.e selling price and the spot price
Paula writes and mails 10 checks per month to pay her bills. Her bank, which charges her 25 cents per check, offers her free use of its bill payment system. If a first-class stamp costs 55 cents, how much can Paula save in a year by using this system?
Paula can save $96 in a year by using this bill payment system.
What is a payment system?This includes debit cards, credit cards, digital finances transfers, direct credits, direct debits, net banking, and e-commerce price structures. Payment systems may be physical or electronic and each has its personal techniques and protocols.
A payment device is any machine used to settle monetary transactions through the switch of economic cost. This includes the institutions, gadgets, human beings, regulations, strategies, standards, and technologies that make its change feasible.
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Paula can save $96.00 annually by using her bank's bill payment system instead of writing and mailing checks.
To calculate how much Paula can save in a year by using her bank's bill payment system, let's break down the costs:
1. Cost of writing and mailing checks:
Paula writes and mails 10 checks per month.
Cost per check for postage: 55 cents (first-class stamp)
Total monthly cost for postage: [tex]\( 10 \times 0.55 \)[/tex] dollars
[tex]\[ \text{Monthly postage cost} = 10 \times 0.55 = 5.50 \text{ dollars} \][/tex]
Cost per check for bank fee: 25 cents
Total monthly cost for bank fees: [tex]\( 10 \times 0.25 \)[/tex] dollars
[tex]\[ \text{Monthly bank fee cost} = 10 \times 0.25 = 2.50 \text{ dollars} \][/tex]
Total monthly cost of writing and mailing checks:
[tex]\[ \text{Total monthly cost} = \text{Monthly postage cost} + \text{Monthly bank fee cost} \][/tex]
[tex]\[ \text{Total monthly cost} = 5.50 + 2.50 = 8.00 \text{ dollars} \][/tex]
Total annual cost:
[tex]\[ \text{Annual cost} = \text{Total monthly cost} \times 12 \][/tex]
[tex]\[ \text{Annual cost} = 8.00 \times 12 = 96.00 \text{ dollars} \][/tex]
2. Cost of using the bank's bill payment system:
The bank offers free use of its bill payment system.
Therefore, there are no additional costs for using the system.
3. Savings by using the bank's bill payment system:
Total annual savings:
[tex]\[ \text{Annual savings} = \text{Annual cost of writing and mailing checks} - \text{Cost of using bill payment system} \][/tex]
[tex]\[ \text{Annual savings} = 96.00 - 0 = 96.00 \text{ dollars} \][/tex]
Cell phones are often recycled to collect gold and other metals from them. This is profitable because ________.
a. technological advances allow the metals to be extracted more efficiently, and it is a renewable resource
b. technological advances allow the metals to be extracted more efficiently
c. the demand for the precious metals has increased, and technological advances allow the metals to be extracted more efficiently
d. the demand for the precious metals has increased it is a renewable resource
Answer:
C, the demand for the precious metals has increased and technological advances allow the metals to be extracted more efficiently.
Explanation:
Because cellphones today make use of certain precious metals in the production of bespoke editions, luxury editions and other high class editions, these cell phones are recycled and the precious metals are taken off them to produce other cellphones or human wants as the precious materials are durable and hardly get destroyed like other materials used in producing cellphones. Gold for example is commonly used for some high end cell phones and because gold never goes bad, it can be recycled and the gold extracted from a bad cellphone along side other metals to produce other cellphones or another human want. Technology today has helped in the extraction of these metals from these cell phones totally and purely for use for other things.
Cheers.
Answer:
The answer is C
Explanation:
Traditional financial models are built around relatively easy-to-measure, monetized results; whereas, the benefits of sustainability projects involve__________-
Answer:
Fuzzy intangibles
Explanation:
Traditional financial models are easy to use and easy to measure the financial data of a firm or an organisation. Likewise, sustainability projects have various benefits as it helps to create certain elements which are good for the company in long-run. Sustainability projects involve fuzzy intangibles which mean that they help to create goodwill among the users and it helps to increase consumers.
The major work elements defined in the statement of work (SOW) section along with the detailed list of deliverables provide the basis for creating a ___
Answer:
Work Breakdown Structure (WBS)
Explanation:
Note that, the statement of work (SOW) is usually used in project management to define project-specific activities, deliverables etc.
The Work Breakdown Structure (WBS) finally breaks down the project into smaller components as found in the image below. The image shows the case of a project breakdown to design and build a custom bicycle.
Frost Enterprises buys a warehouse for $ 510,000 to use for its East Coast distribution operations. On the date of the purchase, a professional appraisal shows a value of $ 610,000 for the warehouse. The seller had originally purchased the building for $ 485,000. Frost has a similar warehouse on the West Coast that has a book value of $ 526,000. Under the historical cost principle, Frost should record the building for:_______.A. $580,000.B. $630,000.C. $594,000.D. $525,000.
Answer:
$510,000.00
Explanation:
Since the historical cost principle states that business must account and record most assets at their purchase or acquisition price which means the data put into record on the balance sheet would reflect amount paid for asset.
That is why it is $510000.
A major difference between a joint venture and a partnership is that: a. a joint venture is a one-time association, whereas a partnership is ongoing. b. a partnership is composed of members, and a joint venture is not. c. partners are taxed individually, but joint ventures are not.
Answer:
Option A
Explanation:
A joint venture refers to the business entity formed by two or maybe more partners, distinguished typically by shared ownership, shared profits and hazards and shared management.
Companies usually seek joint ventures for some of four reasons: exposure to a new industry, especially emerging economies; achieve efficiencies in size through sharing resources and procedures; share responsibility for significant investments or initiatives; or gain expertise and capacities.
A partnership refers to the formal agreement to handle and run a business and express its earnings by two or even more sides. There are many kinds of agreements for partnerships. Throughout fact, both partners share obligations and benefits equally in a relationship company, while partners have limited liability in other businesses.
Thus, from the above we can conclude that the correct option is A.
The CEO of D'Amico Motors has been granted some stock options that have provisions similar to most other executive stock options. If D'Amico's stock underperforms the market, these options will necessarily be worthless. Select one: a. True b. False
Answer:
The above statement is FALSE
Though the ________ method of setting an advertising budget is simple to use and helps management think about the relationships among promotion spending, selling price, and profit per unit, it wrongly views sales as the cause of promotion rather than the result.1. percentage-of-sales2. competitive-parity3. bottom-up4. objective-task5. push-pull
Answer:
1. percentage-of-sales
Explanation:
Assigning a cost which can be traced as a percentage of the sales budget would make it easier for the management to focus their endeavors, but creates the understanding that promotion is the cause of sales, rather than sales being a result of the promotion, among other things.
Your bank will pay you an interest rate of .172 percent compounded weekly. You want to have $29,500 in 6 years. How much will you have to deposit today? Assume 52 weeks per year.
To determine the amount to deposit today to achieve a future value, use the compound interest formula with appropriate adjustments for the interest rate and compounding periods.
Mathematics:
To calculate the amount to deposit today to have $29,500 in 6 years with an interest rate of 0.172% compounded weekly, we use the formula for compound interest: A = P(1 + r/n)nt. Here, A is the desired amount, P is the principal amount (what you need to find), r is the interest rate per period, n is the number of compounding periods per year, and t is the number of years. Plugging in the values, we get:
Convert 0.172% to a decimal: 0.172% = 0.00172.
Calculate the total number of compounding periods in 6 years with weekly compounding: 6 years * 52 weeks = 312 periods.
Substitute the values into the formula and solve for P: $29,500 = P(1 + 0.00172/52)312.
By solving this equation, you can find the amount you need to deposit today to reach $29,500 in 6 years.
Bryan’s hockey team is purchasing jerseys. The company charges $250 for a one time set-up fee and $23 for each printed jersey. Which expression represents the total cost of x number of jerseys for the team?
1. 23x
2. 23x + 250
3. 23 + 250x
4. 23(x + 250)
Answer:
2. 23x + 250
Explanation:
$250 is the fixed cost
$23 is the variable cost. It increases with the number of jerseys printed.
I hope my answer helps you
The total cost of x number of jerseys for the team is [tex]23x + 250[/tex]. So, the correct option is 2.
Let's carefully analyze the problem step by step:
1. Identify the Costs:
- There is a one-time set-up fee of $250.
- Each printed jersey costs $23.
2. Understand the Total Cost Formula:
- The total cost consists of two parts:
- The fixed set-up fee, which is a one-time charge irrespective of the number of jerseys.
- The variable cost, which depends on the number of jerseys [tex]\( x \)[/tex].
3. Formulate the Expression:
- To find the total cost for [tex]\( x \) jerseys, start with the fixed set-up fee. - Add the cost for \( x \) jerseys to the set-up fee. Since each jersey costs $23, the total cost for \( x \) jerseys is \( 23x \).[/tex]
4. Combine Both Parts to Get the Final Expression:
- The total cost is the sum of the set-up fee and the cost for [tex]\( x \)[/tex] jerseys:
[tex]\[ \text{Total Cost} = \text{Setup Fee} + (\text{Cost per Jersey} \times \text{Number of Jerseys}) \] - Substitute the given values into the formula: \[ \text{Total Cost} = 250 + 23x \][/tex]
5. Compare with Provided Options:
- Option 1: [tex]\( 23x \)[/tex] – This does not account for the $250 set-up fee.
- Option 2: [tex]\( 23x + 250 \)[/tex] – This correctly includes both the variable cost and the one-time set-up fee.
- Option 3: [tex]\( 23 + 250x \)[/tex] – This inaccurately multiplies $250 by the number of jerseys, which is incorrect.
- Option 4: [tex]\( 23(x + 250) \)[/tex] – This expression wrongly combines the costs in a way that doesn't represent the problem's conditions.
Therefore, the correct expression that represents the total cost [tex]\( C \)[/tex] for [tex]\( x \)[/tex] number of jerseys is:
[tex]\[\boxed{23x + 250}\][/tex] which corresponds to option 2.
Marti purchased 100 shares of Better Foods stock on margin at a price of $49 a share. The initial margin requirement is 60 percent and the maintenance margin is 30 percent. What is the lowest the stock price can go before Marti receives a margin call?
Answer:
Explanation:
100shares*$49*0.6= 4900*0.6=$2940
0.3=(100*Price-2940)/100*Price
30Price=100Price-2940
70Price=2940
Price=$42
The lowest stock price at which Marti would receive a margin call is $75.
Explanation:To calculate the lowest stock price at which Marti would receive a margin call, we need to consider the initial margin requirement and the maintenance margin. The initial margin requirement is the minimum amount that Marti must contribute to purchase the stock on margin, which is 60% of the stock price. In this case, the initial margin would be 0.6 * $49 = $29.40 per share. The maintenance margin is the minimum level of equity that Marti must maintain in the account, which is 30% of the stock price. If the equity in Marti's account falls below the maintenance margin, the broker will issue a margin call. Considering this, let's calculate the lowest stock price:
Therefore, the lowest the stock price can go before Marti receives a margin call is $75.
After obtain a licens,a license must comply with the dbo ommisioner rules and regulations, which is true regarding the finance lender, finance broker,or mlo licenses.
a) true
b) false
Answer:
True
Explanation:
This is true that no person shall engage in the business of finance broker or finance lender without obtaining a license from the commissioner. All of them shall comply with dbo rules and regulation. if they fail to comply they may face a fine or cancelation of license.
When a firm charges each customer the maximum price that the customer is willing to pay, the firm:_______.a) charges the average reservation price.b) engages in first-degree price discrimination.c) engages in second-degree price discrimination.d) engages in a discrete pricing strategy.
The Answer is: A. engages in first-degree price discrimination.
Explanation: First degree happens when a business charges the maximum possible price for each unit of goods consumed.
When firms exit a market, the _________, causing individual firms’ profits to _________.
short-run market supply curve shifts right; increase
short-run market supply curve shifts left; increase
long-run market supply curve shifts right; decrease
short-run market supply curve shifts left; decrease
Answer:
Long run supply curve shifts to the left; decrease
Explanation:
In the short run, if firms are making economic loss, in the long run, they exit the industry. Firms cannot exit the industry in the short run because in the short run most factors of production are fixed.
When firms exit the industry, the quantity supplied falls and the supply curve shifts to the left. Because of the fall in supply, prices rise, revenue and profit rise all things being equal.
I hope my answer helps you
Answer:
When firms exit a market, the short-run market supply curve shifts left, causing individual firms’ profits to increase.
Explanation:
The process of free entry and exit of firms is in a sequence as explained under-
If there is higher demand in the market of the product as compared to its supply, then each firm in the market will receive higher price for its product. This will increase the prices of the product, enabling higher profits for each firm. This will make the industry attractive, enabling the introduction of newer firms in the market. When the new firms enter the industry, the prices of the product in the market will drop due to higher competition, now present currently. This will lead to lowering of profits for the firms in the industry.This will make the industry non-attractive and thereby the less competitive and less effective firms will exit the market in the short run.This exit of firms from the industry, will lead to higher prices again due to less supply of product in the market as compared to its demand. Hence, the profits of the firms present in the industry will increase.Thus, it can be concluded that when firms exit a market, the short-run market supply curve shifts left, causing individual firms’ profits to increase.
Identify the basic assumption or broad accounting principle that was violated in each of the following situations.
1. Astro Turf Company recognizes an expense, cost of goods sold, in the period the product is manufactured.
2. McCloud Drug Company owns a patent that it purchased three years ago for $2 million. The controller recently revalued the patent to its approximate market value of $8 million.
3. Philips Company pays the monthly mortgage on the home of its president, Larry Crosswhite, and charges the expenditure to miscellaneous expense.
Answer:
1) expense recognition principle: expenses are recognized when they are consumed.
2) historical cost principle: a company must record its assets, liabilities, and equity investments at their original costs.
3) economic entity principle: the company's transactions should be kept separate from those of its owners or upper management.
To provide better service for their customers, America Online purchased office space in India for their online customer service representatives. This is an example of:______________
Answer:
Foreign Direct Investment
Explanation:
For an investment to be called a foreign direct investment, a business in one country must purchase a form of controlling ownership in another business which is located in another country. Mergers and acquisitions, opening a new facility in another country, or purchasing properties in another country for the purpose of doing business is called FDI. In the question, America Online purchases office space in India; this is purely an example of Foreign Direct Investment.
Final answer:
America Online's purchase of office space in India for customer service is an example of offshoring, which allows access to cheaper labor markets as part of the globalization process. India's educated workforce and proficiency in English make it an attractive destination for business process outsourcing (BPO) services.
Explanation:
To provide better service for their customers, America Online purchased office space in India for their online customer service representatives. This is an example of offshoring. Offshoring is the process of moving some of a company's operations overseas to access cheaper labor markets. A large number of educated, English-speaking young people have positioned India as a prime location for global outsourcing for customer and business process outsourcing (BPO) services, primarily due to lower employment costs, proficiency in English, and a skilled workforce. Outsourcing, on the other hand, involves hiring outside contractors, sometimes abroad, to perform tasks a company once performed internally.
The transformation of India into a 'back office' hub for global outsourcing, especially in the context of information technology and BPO services, is a direct outcome of these economic trends. American and European corporations find India attractive for outsourcing activities not only for the cost benefits but also because India offers a growing educated workforce that accommodates their service requirements.
More broadly, outsourcing and offshoring are part of the larger framework of globalization, a process driven by international trade agreements and advances in technology, which allows companies to move parts of their business to countries such as India, where they can minimize operational costs.
Billie Jean has $120 to spend and wants to buy either a new amplifier for her guitar or a new mp3 player to listen to music while working out. Both the amplifier and the mp3 player cost $120, so she can only buy one. This illustrates the basic concept that:________.
a) trade can make everyone better off
b) people face trade offs
c) rational people think at the margin
d) decisions made at the margin are not particularly important
Answer:
B) people face trade offs
Explanation:
Resources are scarce, and that applies to every person and every organization in the world. Even the richest person or richest organization has a certain finite amount of money, time and other resources. For example, if we decide to work 12 hours a day, we will make more money, but we will also have less time o do other activities that we like.
In this case, Billie Jean only has $120 and she wants to buy both products, but she can only buy one. Whatever product she decides to buy will leave her with $0, so if she wants to purchase the other product she will need to find a job and earn some money, or if she already has a job, she will need to work more hours.
Dismissal of an employee shortly after a request for a grievance hearing regarding a salary discrepancy with another employee can raise an issue of liability for retaliatory discharge.?
Answer:
True
Explanation:
The liability for retaliatory discharge is called retaliation claims and it refers to the claims an employee is entitled to when he/she can provide evidence of discrimination as a result of making a request or airing a grievance against an harassment or a discrimination withing the organisation.
To raise an issue of liability for retaliatory discharge, the following must be proven;
The first is that the employee must have filed a discrimination or a misconduct claim (such as the request for a grievance hearing against salary discrepancy)
The second is that the employee suffered a negative or adverse effect from the claim or request filed which in this case is the discharge or dismissal
The third is that there must be a proven causal relationship between the negative effect suffered and the request filed. Meaning, there should be a proven relationship between the discharge or dismissal of the employee and the request for grievance hearing.
Suppose GDP is $16 trillion, with $10 trillion coming from consumption, $2 trillion coming from gross investment, $3.5 trillion coming from government expenditures, and $500 billion coming from net exports. Also suppose that across the whole economy, depreciation (consumption of fixed capital) totals $1 trillion.
Remaining information:
From these figures, we see that net domestic product equals:
a. $17.0 trillion.
b. $16.0 trillion.
c. $15.5 trillion.
d. None of the above ***right answer
Answer:
Option D, None of the above
Explanation:
The net domestic product (NDP) is equivalent to the gross national product (GDP) greater than the capital goods depreciated by a government. Capital spent throughout the year in the form of housing, automobiles or equipment is paid for by the net domestic product.
NDP is the value for a particular period of time for all goods and services produced in a country. This is a gross national product, or GDP minus a depreciation of capital.
"The factor-priced net domestic product is the sum total of the net value added during an accounting year by all manufacturers in the country's domestic region."
Answer:
D. None of the above
Explanation:
If a company's efforts to differentiate its products are met with consumer disinterest, the company puts itself at risk for lower profits.A. True
B. False
Answer:
True
Explanation:
It would cost more for a firm to differentiate its products. If the product differentiation isn't rewarded with an increase in demand, the firm is at risk of a lower profit.
I hope my answer helps you
The original cost of an inventory item is above the replacement cost and the net realizable value. The replacement cost is below the net realizable value less the normal profit margin. As a result, under the lower-of-cost-or-market method, the inventory item should be reported at the _________.A. Original cost.
B. Replacement cost.
C. Net realizable value.
D. Net realizable value LESS normal profit margin
Answer:
D. Net realizable value LESS normal profit margin
Explanation:
Inventories are assets of an entity stocked for the purpose of production, or assets that is being sold in the ordinary course of business, or it can be supplies used in the process of production, it can be materials at some stages of production (work-in-process)
The International Accounting Standard 2 (IAS 2) states that "Inventories are measured at the lower of cost and net realizable value". when the retail technique is used in measuring Inventories, inventory cost is arrived at by deducting percentage gross margin from the selling price.
The type of plan for a loan calls for payments of interest only, with the principal to be paid in full at the end of the loan term is called a(n):________.
Answer:
Interest-only loan
Explanation:
Interest-only loan - it is type of loan in which loan borrower has to return interest with the principal amount that will remain change for all whole periods of interest.
In interest-only loans, the borrower needs to pay interest for a fixed period. This period varies from 5 to 7 years. After this fixed period process like refinancing, or principal amount pay off can be initiated by the lender side.
In addition to finished goods, under the ____________ rules, inventory costs include the purchase price of any raw materials, shipping costs, and any indirect costs the business allocates to inventory.
In addition to finished goods, under the uniform cost capitalization rules, inventory costs include the purchase price of any raw materials, shipping costs, and any indirect costs the business allocates to inventory.
Explanation:
For the production of any goods or services that you sell to the consumer, any business need to invest in the machine, labors, raw materials that are essential in making those goods, etc. These comes under the UNICAP which is uniform cost capitalization.
This means that you have to invest on something in order to run your business. It views the finished goods that are ready to consume as the investment that you make on something to produce those goods. The finished goods are seen as the assets that you will be reselling to cover the cost that is initially invested.
Although McDonald's is competing in an unattractive industry, it has improved its performance by focusing on product innovations and by enhancing existing facilities. This improved performance is best explained by
a.
globalization.
b.
hypercompetition.
c.
the I/O model.
d.
the resource-based model.
Answer:
D) the resource-based model
Explanation:
The resource-based model states that a company's long term success comes from effectively using its resources, specially their valuable, strategic and unique resources.
In McDonald's case, it has several unique resources that help them establish themselves as global leaders in the fast food industry, and its most valuable, strategic, rare and unique resources are their ubiquity (they restaurants everywhere) and their global recognition (most of the world's population recognizes their name).
The component of the project management plan that describes how project costs will be planned, structured and controlled is called the project financial plan.
True / False.
Answer:
False .It is called budget
Explanation:
Budget is used to estimate total costs of the project and it includes a detailed estimate of all costs that are likely to be incurred before the project is completed.
This is used for resource planning and control at every stage of the project and if there is any deviation ,this must be clearly justified by the project manager.
Which of the following is not an example of a decision or informed judgment that a potential employee could make from accounting information?
Answer:
A. Personnel turnover statistics (i.e., hiring and terminations).
Explanation:
The accounting information refers to the information related to the business entity transactions which helps the company to evaluate how much sales to be achieved in nearby future, how much risk is being there, employees strengths, innovative and technology which better the company services so that more and more investors are interested to invest in it.
With respect to the employee, the employee could make the judgment regarding the profit-sharing plan contributions in the future, risk assessment, the commitment of the company depend upon the research program but the employee turnover could not be judged by the potential employee
While accounting information can provide valuable insights for potential employees into decisions about job acceptance and understanding the financial health of a company, it would not be useful in deciding what company uniform to wear. This decision is more related to personal preference and company policy.
Explanation:Accounting information is crucially important for potential employees in a variety of decisions. These include accepting a job offer, determining if the company is financially stable, and understanding the company's growth patterns. However, a decision that would not be informed by accounting information is choosing what company uniform to wear. The data generated from a company's accounting system would not provide insight into such a decision. It's more about the company's dress code policy and less about its financial health.
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Bartex, a new company, completed these transactions.
1. Stockholders invested $ 56,000 cash and inventory with a fair value of $ 34,000.
2. Sales on account, $ 22,000.
What will Bartex's total assets equal?
Answer:
$112,000
Explanation:
The computation of the total asset is shown below:
= Cash balance + inventory balance + account receivable
= $56,000 + $34,000 + $22,000
= $112,000
Since the cash is invested so cash is a part of the total asset plus the inventory is also a part of total asset
And the sales are made for an account so it is on a credit basis and the same is recognized as an account receivable
Widget Corp. has launched a new range of smart bulbs with enhanced features. Before developing the product, Widget Corp. conducted a thorough research about customer requirements. The company also studied the quality of its competitors' smart bulbs. Based on these insights, we can conclude that Widget Corp. designed smart bulbs that it feels can be clearly distinguished from other brands. Widget Corp. most likely has a _____. a. sales orientation b. production orientation c. promotional orientation d. market orientation
Answer:
Widget Corp. most likely has a;
d. market orientation
Explanation:
In a competitive market, companies need to be more vigilant to have a large share of the market since there are many companies that are also fighting for the same market share. There are different strategies that can be used to achieve a higher market share, namely;
1. Market orientation: as the name suggests, this strategy aims at putting the business in the direction of the market. In simpler terms, it involves assessing customer and market needs then producing products that fit or satisfy the customer needs. In our case, Widget Corp. after studying the market determined that the current bulbs in the market did not meet customer needs as most customers needed smart bulbs. By designing smart bulbs to align with market needs, Widget Corp gained a market orientation.
2. Sales orientation: sales orientation is a set of business strategy that aims as persuading more people to buy than product rather than meeting customer needs. More emphasis is put on the forces that drive sales like advertising and marketing.
3. Production orientation: is all the activities aimed at building the product value as opposed to what the customer needs.
4. Promotional orientation:promotional orientation aims to grow and advance the product.