This is an example of target costing. With target costing companies produce products that fit their goals in certain market conditions. In this case they wanted to fit the ideal price.
Final answer:
The pricing method in question, where a luxury brand selects an ideal selling price and works backwards to determine the cost, is known as target costing. It involves taking into account market segment, consumer price sensitivities, elasticity of demand, and brand equity to set profitable and market-clearing prices.
Explanation:
The pricing approach described is referred to as target costing. Target costing involves identifying a market segment that is willing to pay a premium for a product and then selecting an ideal selling price. After deciding on the ideal price point, managers work backwards to determine the costs to create the product at a level that meets this selling price, particularly for a luxury brand like Radox. As they calculate these costs, managers must consider both the direct and indirect expenses associated with production, like material costs, labor, and market research.
Managers within companies such as Radox should utilize market research to understand consumers' price sensitivities and potentially estimate the elasticity of demand for their watches. This sensitivity information helps to guide them when setting the prices, and they may use rules of thumb or standard markups to inform their pricing strategy. The price is often set to balance the twin necessities of covering costs and maximizing profit, which can sometimes be tied to the concept of Ramsey pricing, where markup over marginal cost is proportional to the inverse of the elasticity of demand.
Furthermore, the brand equity plays a significant role in pricing, especially for luxury goods. With high brand equity, firms like Radox can charge premium prices. But to maintain that position, brand equity needs support through advertising and product quality, as it depreciates over time.
Twenty-six nations of moonland region, have decided to cooperate with one another to eliminate trade barriers among them and create the moonland union. they are not sure, however, to what extent they want to cooperate. the process undertaken by these twenty-six countries is an example of ________.
This is an example of an economic union
Consists of the group of people who have the same economic or educational status in society.
Social classes are groups of people who have the same economic or educational status in society
A drawback of buying a franchise is there is more opportunity for creativity, resulting in the owner spending too much time in this area. if the national chain suffers, so does the franchisee. the sba (small business administration) frowns upon it. lower start-up costs.
Answer:
If the national chain suffers, so does the franchisee
Explanation:
Franchises share common problems struggle for one can lead to struggle for all.
If the national chain suffers, the franchisee suffers as well. Franchises face similar issues. A hardship for one person can lead to a struggle for everyone.
What are the types of franchise?Franchises are the company in the another country with the same name, and it has four types that are -
Job or franchise operator.Franchise in management.Franchises in retail and fast food.Franchise for investment.Thus, If the national chain suffers, the franchisee suffers as well.
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The number of units expected to be sold is uniformly distributed between 300 and 500. If r is a random number between 0 and 1, then the proper expression for sales isa.200(r)b.r + 300c.300 + 500(r)d.300 + r(200)
The number of units expected to be sold is uniformly distributed between 300 and 500. If r is a random number between 0 and 1, then the proper expression for sales is D. 300 + r(200).
Uniform distribution means that there is a constant probability. There is a constant density in how the sales will trend when using uniform distribution whereas in a normal distribution the shape goes up and back down. The probability in a uniform distribution is shaped like a rectangle for continuation.
The proper expression for sales is 300 + r(200).
Explanation:The proper expression for sales is 300 + r(200).
Since the number of units expected to be sold is uniformly distributed between 300 and 500, we can use the formula for a uniform distribution to model the sales. The formula is X ~ U(a, b), where X represents the random variable for sales, and a and b represent the lower and upper bounds respectively.
In this case, a = 300 and b = 500. Therefore, the proper expression for sales is 300 + r(200).
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Gilbert notices that his sausage is sliced into six pieces, whereas his brother's is sliced into nine pieces. he understands, however, that his brother's sausage is not actually any larger than his own. this indicates that gilbert has by now reached the ________ stage of development.
Gilbert’s understanding here showcases that his developmental stage, according to Jean Piaget, is at the concrete operational level.
Concrete operational is part of Piaget’s cognitive development stages, more specifically, the third stage which commonly occurs during age 7-11. It is characterized by the child’s capacity to reason and apply logical concepts – but only to physical objects.
Final answer:
Gilbert's understanding that his sausage, despite being sliced into fewer pieces, is not smaller than his brother's indicates he has reached the concrete operational stage of development, as proposed by Jean Piaget.
Explanation:
Gilbert notices that his sausage is sliced into six pieces, whereas his brother's is sliced into nine pieces. He understands, however, that his brother's sausage is not actually any larger than his own. This indicates that Gilbert has by now reached the concrete operational reasoning stage of development. This stage, as described by Jean Piaget, occurs roughly between the ages of 6 or 7 to 11 or 12 years. It is the period during which children gain the ability to think logically about concrete events and understand the concept of conservation. The understanding that quantity remains the same despite changes in the shape or arrangement is a hallmark of this stage. Gilbert's realization that the total amount of sausage remains constant despite being divided into a different number of pieces demonstrates his development of the ability to reason about physical quantities in a logical, concrete manner.
Scenario: you have advised the owner of bond's gym that the best thing to do would be to raise the price of a monthly membership. the owner wants to know what may happen once this price increase goes into effect. what will most likely occur after the price of a monthly membership increases? check all that apply.
Answer:
A,B,D
Explanation:
EDG2020
The quantity demanded for memberships will decrease and Bond's Gym will receive more membership applications will most likely occur after the price of a monthly membership increases. Hence, option B and E are correct.
What is membership?The number of individuals who are members of an organization is referred to as its membership. The group had 409,000 members by 1890. Synonyms: friends, fellows, members, body Additional words for membership.
Anyhow, belonging implies being a "insider." A membership program's primary goal is nearly always to improve the organization's operational, financial, and/or political stability.
The advantages, services, and access that members get as part of their membership are known as member benefits. To put it another way, these are the benefits that members receive in return for joining the organization and, if necessary, paying membership dues.
Thus, option B and E are correct.
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Current members will pay more per month.
The quantity demanded for memberships will decrease.
The number of available memberships will increase.
The owner will make more money.
Bond's Gym will receive more membership applications.
A / an ____________ is a communications, data exchange, and resource-sharing system created by linking two or more computers and establishing standards, or protocols, so that they can work together.
This is a network by defnition
Which of the command systems would be the most appropriate when there are six victims at a mvc?
Singular command. In a motor vehicle accident with multiple victims, the scene will be chaotic and having a single, clear leader will best help resolve the situation.
A singular command system would be the most appropriate to choose from when there are six victims at an MVC.
What is a command system?A command system refers to a system where the role of being a leader is taken by a single or multiple persons to come at an efficient solution for the problems that arise.
In case there are six victims at an MVC who have faced similar issues, a singular command system where only one leader will be efficient enough in undertaking the best possible decisions and find out a better solution.
Hence, the significance of a command system is aforementioned.
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Wen, a consumer researcher, is conducting a research on the buying behavior of the hispanics. as part of her study, she calculates a consumer's buying power by relating it to the consumer's income. the consumer attributes that wen employs in her research can best be described as _____.
Wen, a consumer researcher, is conducting a research on the buying behavior of the hispanics. as part of her study, she calculates a consumer's buying power by relating it to the consumer's income. the consumer attributes that wen employs in her research can best be described demographics.
Paul is a cpa (certified public accountant). he offers a variety of services depending on the needs of his customers. some hire him to perform bookkeeping activities; others have him prepare their tax return. paul's market is segmented based on:
His market is segmented based on customer needs.
Refusing to hire qualified job applicants because of the color of their skin is to engage in
A) deindividuation.
B) discrimination.
C) a dispositional attribution.
D) stereotyping.
your answer would be B
Hope this helps!
During valentine's week, more people buy chocolates and chocolatiers offer their chocolates in special red boxes which cost more to produce than the everyday box.
Very true people make more money when it gets closer to the date and it gets more expensive
Final answer:
During valentine's week, the demand for chocolates leads to specialized red packaging that is more costly. This is a part of the holiday commercialization trend seen in the sale of festive merchandise globally. Couverture chocolate, a premium chocolate with extra cocoa butter, may also see increased sales during this period.
Explanation:
The question touches upon the effects of valentine's week on chocolate sales and how these seasonal trends influence the costs of production and packaging for chocolatiers. During Valentine's week, it is common for the demand for chocolates to surge, and in the spirit of the occasion, chocolatiers often present their products in special red boxes which are more expensive to produce than their regular packaging.
This seasonal change is part of a broader pattern of commercialization of holidays, where holidays like Valentine's Day, Christmas, and Halloween are leveraged by businesses to increase sales. The phenomenon is not limited to Western countries but can be observed worldwide, as commercialization strategies adapt to tap into local consumer markets.
In terms of product quality, during such high-demand periods, premium chocolates such as couverture chocolate—known for its higher percentage of cocoa butter and superior quality—might also see an increase in sales. The luxurious nature of couverture chocolate, along with its rich flavor and glossy appearance, aligns well with the indulgent spirit of the holiday.
A document that analyzes the current marketing situation, opportunities and threats for the firm, marketing objectives in terms of the four ps, action plans, and pro forma financial statements is known as a(n):
The marketing plan, which should include specific plans to deal with all opportunities and threats.
________ refers to the sale of two or more goods or services as a single package for one price. two-part pricing captive pricing price bundling list pricing everyday low pricing
Price bundling.
This combines multiple items for a single, discounted price. Even though the combined price is lower, it actually can help profits and sales because it encourages customers to buy more than they otherwise would.
"When workers have a relatively small quantity of capital to use in producing goods and services, giving them an additional unit of capital increases their productivity by a relatively large amount." This statement is consistent with the view that
Increased capital is subject to diminishing returns - one additional unit increases productivity greatly but each additional unit offers lower and lower marginal returns.
The statement relates to the economic principle that adding capital increases the marginal product of labor significantly, especially in sectors with a low capital-to-labor ratio, thus enhancing productivity, wages, and the standard of living.
The statement "When workers have a relatively small quantity of capital to use in producing goods and services, giving them an additional unit of capital increases their productivity by a relatively large amount" is consistent with the economic principle that increases in capital can lead to substantial growth in the marginal product of labor. In sectors where the capital-to-labor ratio is low, such as in agriculture, adding capital in the form of machinery or equipment can significantly enhance productivity and, consequently, increase wages and overall economic output. An ample supply of capital is essential for raising the standard of living within an economy because it allows workers to produce more per unit of time, thus increasing incomes.
In a practical sense, the best size for a team is:A. between two and twenty-five members.B. five or fewer people.C. determined by the task to be performed.D. as large as possible.E. unknown; research has not studied this.
C is the correct answer because it really varies depending on the game.
Executives at southwestern construction have noticed that the company's construction team in the phoenix office is more efficient with its resources than the other teams in the las vegas, salt lake, and santa fe offices. they decide to construct a knowledge management system that will allow the phoenix team's methods to be shared with the other three offices. which general benefit are they hoping to gain from this new system?
Answer:
Leveraging the experience of one group to help another group.
Explanation:
Southwestern Construction is hoping to use (leverage) the knowledge of the team in one office by sharing the knowledge with another office and hoping that the second office will also become more efficient simply by adopting the new strategies.
The company aims to improve overall productivity, promote informed decision making, and enhance teamwork by sharing the Phoenix office's efficient methods with other offices through a knowledge management system.
Executives at Southwestern Construction are hoping to gain a general benefit from constructing a knowledge management system by enabling the sharing of efficient resource utilization methods from the Phoenix office to other offices. This system aims to ensure that positive team dynamics, high efficiency in resource use, and better informed decision-making are replicated across the company. By doing so, the firm seeks to enhance overall productivity, improve management control information, and foster better relationships between coworkers and managers.
Which of the following statements about stereotypes is true? Multiple Choice
They have no basis in reality.
They should never be used in international business for any reason.
They are positive generalizations about a culture.
They can blind us to people's true natures.
They are more likely to exemplify an individual than a general type.
They can blind us to people's true natures.
The true statement about stereotypes is that they can blind us to people's true natures by promoting generalized traits over individual characteristics, often leading to prejudice.
Among the statements provided about stereotypes, the one that is true is that they can blind us to people's true natures. Stereotypes are oversimplified and can be positive, negative, or neutral, but they often lead to a lack of recognition of an individual's unique characteristics and abilities. It is critical to understand that stereotypes, even seemingly positive ones, can have detrimental effects by creating unrealistic expectations and reducing individual identity to a set of generalized traits. This leads to poor communication and can perpetuate prejudice.
Which sentence is best?
a. the keys to a good singing performance are practice, preparation, and singing skill.
b. the keys to a good singing performance are practice, singing with skill, and preparation.
c. the keys to a good singing performance are having singing skill, practice, and preparation.
d. the keys to a good singing performance are practice, preparation, and to have singing skill?
Answer:
yes
Explanation:
Bill is an avid coin collector and belongs to a coin collectors' club, receiving a monthly magazine and invitations to exclusive events. this coin collectors' club is an example of a(n) ________ group
This is a membership group.
Which process turn economic resources into goods and services ? Distribution. Marketing. Promotion. Production
The correct answer is production.
Production is the process of taking raw materials and turning them into goods and services.
A company received $5,000 for 100 one−year subscriptions on july 1. the journal entry to record this cash receipt would include a ________. the company uses a liability account for revenue received in advance.
A credit to Unearned Revenue for $5,000
Answer:
$ 5000 credit to unearned revenue
Seamus has to conduct market research on the viability of his company's new product. while planning his research he needs to define its purpose-the conclusion he needs to reach at the end of the process. he should therefore develop a(n) __________.
A hypothesis, which is the theory that will be tested and either explained or disproved during the course of the research.
At which level of service would the customer perform the least number of functions?
Full-service companies provide the highest level of service where customers do the least.
For example, you can go to a drive through car wash and wash, dry, and vacuum your car yourself or go to a full-service car wash where the employees take your car and handle all the steps for you.
Customers perform the least functions at a full-service level where the service provider takes care of almost all tasks related to the delivered service.
Explanation:In the realm of service delivery, the customer would perform the least number of functions at a full-service level. Full-service implies that the provider takes responsibility for most, if not all, of the tasks related to the service being provided, with little to no involvement required on the part of the customer. For instance, at a full-service restaurant, customers make their order and the staff take care of everything else - from food preparation, serving up to cleanup. This contrasts with self-service or partial-service options where customers have more responsibilities and therefore perform more functions.
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All things being equal, which will move more easily; a newly polished car or a car that has never been polished
The newly polished one as there will be less resistance and will travel faster across it
A newly polished car will move more easily compared to a car that has never been polished due to the reduction in friction and drag force caused by the smoothness of the polished surface.
Explanation:When all other factors are equal, a newly polished car will move more easily compared to a car that has never been polished. This is because polishing reduces the friction between the car's surface and the surrounding air, allowing it to move with less resistance. The smoothness of the polished surface reduces the drag force, enabling the car to move more easily and efficiently.
In physics, friction is a force that opposes the motion of an object, and it can be influenced by factors such as the surface roughness. When a car is polished, the irregularities on its surface are smoothed out, reducing the amount of friction between the air molecules and the car's surface.
In contrast, a car that has never been polished has a rougher surface with more irregularities. These irregularities increase the friction between the car and the surrounding air, making it more difficult for the car to move smoothly. As a result, the newly polished car will move more easily than the unpainted car.
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Tell us and our car sponsors why you would be a great candidate to be sponsored.
Depending on who you are yourself, write about how qualified you are and write good things about you that could make you a good candidate.
An investor shorts 100 shares when the share price is $50 and closes out the position six months later when the share price is $43. the shares pay a dividend of $3 per share during the six months. how much does the investor gain?
100 x 50 = $500 per share
after 6 months:
100 x 43 = $430 per share
PLUS dividends (3 x 100 = $300) makes $730
investor gains $230 (ending balance - original balance)
The amount received to an investor in respect of a profit on a short sale is $230.
What is short selling?Short selling is a practice where the shares are sold at first and then acquires back from the market after a certain period.
Given values:
The amount received before 6 months : $500 (100 shares X $50)
Amount earned after 6 months: $730 (100 shares X $43 + 100 shares X $3)
Computation of gain to an investor on short-selling:
[tex]\rm\ Gain \rm\ to \rm\ Investor=\rm\ Amount \rm\ received \rm\ after \rm\ six \rm\ months-\rm\ Amount \rm\ received \rm\ before \rm\ six \rm\ months\\\rm\ Gain \rm\ to \rm\ Investor=\$730-\$500\\\rm\ Gain \rm\ to \rm\ Investor=\$230[/tex]
Therefore, the short sale done by an investor gives him a profit of $230.
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Marianne was so blown away by the announcement that she had won an award that she felt numb on her way to accept it. when she got to the microphone, she began to ramble and then thanked everyone she could think of for voting and supporting her. the speech ran several minutes long and had no organization. was this appropriate for an acceptance speech
The answer is No.
An acceptance speech is generally short, above all else. Even if the speech isn’t well-organized, the acceptance speech shouldn’t be too long that it impacts the whole event.
If Marianne received information that she was nominated, she should have considered making a speech nonetheless just in case she won. This would help her when she felt overwhelmed by her achievement.
Banks are able to create money only when
a. interest rates are above 2%.
b. the fed sells u.s. government bonds.
c. the reserve ratio is 100%.
d. only a fraction of deposits are held in reserve.
D- Only a fraction of deposits are held in reserve. This is the right and correct answer.
Banks can create money when only a fraction of deposits are held in reserve. This is due to the practice of fractional reserve banking wherein banks loan out the majority of their deposits, which when redeposited, can be loaned out again, effectively creating new money.
Explanation:Banks are able to create money only when only a fraction of deposits are held in reserve. T Under this system, banks hold a fraction of their depositor's money in reserve and loan out the rest. When the loans are deposited back into the banking system, they can be loaned out again, effectively creating new money. For example, if a bank has $100 in deposits and a reserve ratio of 10%, it can loan out $90. If that $90 is deposited back into the banking system, it can be loaned out again, creating a total of $190 from the original $100 deposit.
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"1. why is the first rule of investing to only invest money that won't be needed for at least five years? what occurs in those 5 years?"
The money grows in that 5 years through intrest and or asset growth. In order to grow the money can't be spent.
The first rule of investment to invest money that is not required for at least five years is a general guideline to help investors minimize their risk of losing money due to short-term market fluctuations.
By investing money that won't be needed for at least five years, investors can give their investments time to grow and ride out any short-term fluctuations or downturns in the market.
Over a period of five years, investors can benefit from the power of compound interest, which can help their investment grow significantly over time. In that period, investors may also benefit from economic cycles.
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