Industry associations and professional journals are the best type of secondary research vehicle this company should use.
A sort of study called "secondary research" refers to information that has already been obtained, arranged, and published by someone else. Reports and studies from governmental organizations, professional associations, and other companies operating in your sector are included. So for approaching Industry-wide information the toaster oven company can depend upon associations and journals which is the best secondary research method.
Books, personal sources, journals, newspapers, websites, government documents, and other sources are examples of secondary data sources. There are several locations where you can get secondary data for free. These include both internal and external sources, including business sales and analytics data, sector-or government-specific publications, and publicly available market research polls.
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in 2022, yvette pays $3,000 in qualifying educational expenses in her first year at state college. her modified adjusted gross income (magi) during the year is $27,000. assuming she meets all other criteria, yvette’s american opportunity tax credit (aotc) is equal to what amount?
Yvette's American opportunity tax credit (AOTC) will be 100% of 3000 = 3000 + 25% of 27000 = 6750, amounting to $9750
For eligible education costs incurred throughout the first four years of a student's postsecondary education, there is a tax credit known as the American opportunity tax credit (AOTC). Each eligible student may receive up to $2,500 in credit each year. The AOTC can be claimed on a tax return by the student, a person listing the student as a dependant, or a spouse paying postsecondary education payments.
The costs associated with attending the student's school, such as tuition, fees, and course materials, do not count as qualified educational expenses, nor do they cover housing and board, healthcare costs, insurance, or travel.
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the five factors that determine the viability of a business opportunity are , relationships, cash flow management, management skillsets, and passion.
The five factors used to determine the viability of a business opportunity are market size, relationships, cash flow management, management skillsets, and passion.
A brief description of each factor is given as follows:
Market size: Check if there exists a market demand for the business opportunity and how large that market demand is.Relationships: Figure out if you have some relationships with potential customers and investors that can help you leverage the business opportunity.Cash Flow Management: Analyze how the cash flow for the business opportunity will be managed which helps to determine the likelihood to sustain the business after a certain time period.Management Skillsets: Evaluate the skills of the management team to check if they are competent and capable of making the business opportunity successful. Passion: Make sure that the team involved in the business opportunity has passion and persistence for the business success.You can learn more about business opportunity at
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which concept deals with giving employees the power to make commitments and use resources to accomplish the assigned tasks? multiple choice centralization delegation of authority specialization of tasks accountability downsizing
Giving employees the authority to commit and use resources to complete tasks is a key component of the delegation of authority idea.
The concept of delegation of authority moves power from a management to an employee. An employee's productivity and effectiveness are increased by this authority transfer. Employee underutilization results from failing to allocate authority and control to staff members. Managers in this situation give different team members varied assignments to complete the projects. Employees in a team are given the authority to complete the duties allocated thanks to this task assignment.
Accountability refers to the idea that a worker is responsible to his manager for his actions. The employee must explain their decisions to supervisors and provide task updates. The delegation of authority includes accountability in some ways. Managers need to be responsible for their own behavior and actions.
There is absolutely no connection between the issue and employees downsizing. By terminating the employment agreements with teams and individuals who are not producing, an organization's workforce is permanently delegation of authority reduced. This is frequently used when a employees corporation experiences economic setbacks and subsequently begins to experience business setbacks as well.
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do you think planning becomes more important or less important in a world where everything is changing fast and crises are a regular part of organizational life? why?
Yes, planning has become more important in a world where everything is changing fast and crises are a regular part of organizational life because planning can help people to overcome a crisis.
Planning can be described as strategies that one keeps in mind for the future. In today's world, changes tend to occur suddenly and one never knows when a crisis can hit on them.
Effective planning of the future can save a person from destruction in the future. Planning such as saving money, investments, etc will always be beneficial in a crisis.
Planning will help a person to set a target for the future and form strategies for the execution of these plans. By proper formulation and execution of a plan, one can always deal with the crises of organizational life.
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a large manufacturing company has recently encountered problems with employees under-producing, and thus not meeting quarterly targets. they have hired you as a consultant to increase employee motivation and productivity. drawing on the expectancy model of motivation, describe three pieces of information you must know about the incentive system at this company in order to understand what is undermining employee motivation. then, describe one way you could effectively improve each of these three key links in the model to boost motivation (i.e., provide three total improvements), and in turn performance.
Three pieces of information you must know about the incentive system at this company in order to understand what is undermining employee motivation which are Expectancy, Instrumentality, and Valence.
Expectancy: In accordance with expectancy, a person's performance will improve if he raises his effort.
Instrumentality: A successful performance will lead to a result that is valued and wanted by the audience.
Valence: The importance a person attributes to a result is referred to as value.
Expectancy is the sentiment or expectation that something positive, intriguing, or exciting is going to occur. The fans exuded a great sense of expectation. More Expectancy synonyms In the United States, women's life expectancy at birth decreased by 0.8 years, from 79.9 years in 2020 to 79.1 in 2021, while men's life expectancy decreased by a full year, from 74.2 years in 2020 to 73.2 in 2021. The ability of an atom or group of atoms to combine with another atom or group of atoms is represented by a whole number is called valence. How many electrons an atom can get, lose, or share determines the valence.
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HELP!! ACCOUNTING
What is the correct order of the steps for
adjusting entries?
O A. Journalize adjusting entries. Post
adjusting entries. Gather relevant
information.
O B. Journalize adjusting entries. Gather
relevant information. Post adjusting
entries.
O C. Gather relevant information.
Journalize adjusting entries. Post
adjusting entries.
O D. Gather relevant information. Post adjusting entries. Journalize adjusting entries.
C. Gather relevant information Journalize adjusting entries. Post
adjusting entries is the correct order of the steps for adjusting entries.
What are adjusting entries?
Adjusting entries are modifications to previously written entries in your diary. They specifically check that the data you have recorded corresponds to the appropriate accounting periods.
Journal entries keep track of how money flows into, out of, and between various accounts in your business.
Making an adjustment entry ensures that the operations of your company are accurately and timely recorded. Your records will show you paying for expenses before they are actually incurred or collecting unearned earnings before you can use the money if you don't make adjustment entries.
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which of the following statements is a critique about servant leadership? a.no consensus exists on a common theoretical framework for servant leadership. b.servant leadership models are essentially lists of attributes with no attention to outcomes. c.servant leadership is used in nonprofit organizations, not in for-profit companies. d.research on servant leadership has stalled.
They must take into account both the present and the possibilities for the future.
Criticism:Absence of Power.The manager's authority and the business's overall management function are reduced by servant leadership.Employees are less likely to view their manager as an authoritative figure if they see their manager exceeding their needs.
How does servant leadership work?
A philosophy and set of practices known as "servant leadership" makes people's lives better, improves organizations, and ultimately makes the world a more just and caring place.The empowerment of all individuals is a hallmark of a culture of servant leadership.
How does the theory of servant leadership work?
A theoretical framework known as "servant-leadership" was first proposed by Robert K. Greenleaf in 1970. It holds that a leader's primary purpose and motivation should be to serve others.
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what is the bond quote for a $1,000 face value bond with an 8 percent coupon rate (paid semiannually) and a required return of 7.5 percent, if the bond is 6.48574, 8.47148, 10.519, and 14.87875 years from maturity?
Calculation of value of bond:
1. Maturity Value
2.6.48574 $1,014.16
3.8.47148 $1,017.86
4.10.51900 $1,021.41 5
5.14.87875 $1,028.12
Below shows the formula used in above calculations:
1. Maturity Value
2. 6.48574 =PV (7.5%/2,6.48574, -1000*8%/2, -1000)
3. 8.47148 =PV (7.5%/2,8.47148, -1000*8%/2, -1000)
4. 10.519 =PV (7.5%/10.519, -1000*8%/2, -1000)
5. 14.87875 =PV (7.5%/14.87875, -1000*8%/2, -1000)
The coupon price is calculated through including up the full quantity of annual bills made through a bond, then dividing that through the face fee (or “par fee”) of the bond.
If an investor purchases a $1,000 ABC Company coupon bond and the coupon price is 5%, the company offers the investor with a 5% hobby each year. This approach the investor gets $50, the face fee of the bond derived from multiplying $1,000 through 0.05, each year.
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if the marginal cost curve is rising, which of the following must be true? group of answer choices the average total cost curve must be rising. the average total cost curve must be below the marginal cost curve. the average total cost curve must be above the marginal cost curve. total costs must be rising.
The correct option is: Total cost must be rising.
Marginal cost is the increase in total cost associated with a one-unit increase in production. As long as MC is positive, the total costs is rising.
Average total cost can be decreasing and can be either above or below the marginal cost curve when the marginal cost curve is upward-sloping.
What is marginal cost curve?
The marginal cost (MC) curve is defined as the change in total cost divided by the change in the output of energy.
What is total cost?
Total cost is the sum of all costs incurred by a firm in producing a certain level of output.
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broadly speaking, how does the japanese economic system differ from the american economic system in terms of the relationship between state and industry?
There is difference in economy's of both the countries as between Japan and United States of America in terms of relationship between states as well as industries.
A system of interconnected production, consumption, and trade activities is called an economy, and it ultimately determines how resources are distributed among all of the players. To meet the requirements of persons residing in and participating in the economy, commodities and services are produced, consumed, and distributed.
An economy can stand in for a whole country, a particular region, a specific industry, or even a whole family. A system of interconnected production and consuming activities makes up an economy, and these activities ultimately decide how resources are distributed within a society. The whole production and consumption of products and services meets the demands of persons residing in and conducting business inside it.
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Does the demand curve you graphed support the law of demand? Cite and explain three reasons why the law of demand works.
The income effect, the substitution effect, and diminishing marginal utility are the three reasons or underlying presumptions of the law of demand. The first two explain how customers respond when a product's price changes. It is connected to real income by the income impact.
What is the law of demand?The law of demand holds that all other things being equal, the relationship between the price and quantity demanded of any good and service is inverse. A product's price increase causes a decrease in consumer demand for that same product.
Consumer decision-making in response to price fluctuations is explained by the law of demand.
When a good's price increases, there is less demand for that good in the market, presuming other factors that affect demand remain constant.
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suppose you want to start saving for retirement. you decide to continuously invest $5000 of your income each year in a risk-free investment with a 6% yearly interest rate, compounded continuously.
Invest $5000 of your income each year in a risk-free investment with a 6% yearly interest rate is 1.103189 x106.
Economical ripples can be caused by changes in interest rates. Despite the fact that the most recent interest rate increases aim to help control inflation, it's possible that they will also have an influence on stocks, bonds, and other investments.
Understanding how interest rate changes can impact the elements of your investing portfolio is crucial.
Maximum employment, price stability, and moderate long-term investment rates are the three goals of the Federal Reserve (the Fed). They alter short-term interest rates as one method of doing this.
Inversely correlated with one another, interest rates and bond prices fall when interest rates rise and vice versa.
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The complete question is :
Suppose you want to start saving for retirement. You decide to continuously invest $5000 of your income each year in a risk-free investment with a 7% yearly interest rate compounded continuously. If y| is the value of the investment, and t| is in years. dy/dt =| Your answer should be interms of y|. You start investing at t = 0| so y(0) = 0. y(t) =| What is the size of your investment after 40 years. y(40) =|
ccpm recommends insertinginto the schedule to act as ""shock absorbers"" to protect the project completion date against task durations taking longer than the 50/50 estimate.
CCPM recommends inserting into the schedule to act as "shock absorber" to protect the project completion date against task durations taking longer than the 50/50 estimate.
Critical Chain Project Management is a link - based plan rooted in the Theory of Constraints which concentrates on locating and eliminating shortfalls in order to boost the overall flow of work. The CCPM takes into consideration task dependencies, a limited quantity of resources (people, tools, physical space), as well as buffers necessary to complete the project effectively.
CCPM aids the program manager in gearing up and managing the project's schedule by leveraging the Critical Chain tools. The Critical Chain Project Management method could be applied both to companies of all sizes, in addition to projects influencing businesses including such building projects, application development, and science and technology research and development.
The complete question is here:
CCPM recommends inserting---, --- into the schedule to act as "shock absorbers" to protect the project completion date against task durations taking longer than the 50/50 estimate
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What decision support strategy uses a technique based on searching based on logical proximity by identifying other data with characteristics that are common to a new item being analyzed?.
Data mining is a decision-support method that employs a method based on finding information that is logically close to a new item being evaluated by locating other data that has those characteristics.
Data mining is the practice of forecasting outcomes by locating anomalies, patterns, and correlations in huge data sets. This information can be used by users to increase profits, cut costs, improve client relationships, lower risks, and accomplish other goals. By utilizing software to look for patterns in massive amounts of data, businesses can gain more insight into their customers. This enables them to create more effective marketing campaigns, boost sales, and cut costs.
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over the past several decades in the united states, the labor-force participation rate of women has increased and the labor-force participation rate of men had remained steady. a. true b. false
Over the past several decades in the united states, the labor-force participation rate of women has increased and the labor-force participation rate of men had remained steady. ---True
How has women's labor force participation changed over time?Women has increased labor force participation determining a significant change in the U.S. economy. As of 2014, nearly six in ten women aged 16 and older worked outside the home, in comparison with 33.9 percent in 1950 and 43.3 percent in 1970.
What is the labor force participation?The labor force participation rate is the percentage of the civilian non-institutional population 16 years and older than that is working or looking for work. It is a crucial labor market measure as it represents the relative amount of labor resources required for the production of goods and services.
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you want to buy a parcel of land in an area of town in the direction of future development. the lot costs $55,000. the monthly payments on a loan to buy the lot would be $805.76. if the bank is charging you 9% interest per year, how years will it be before you own the land, free and clear?
If the bank charges you 9% interest per year for the monthly payments on a loan to acquire the lot, it will take you 4 years until you own the land free and clear. The monthly payment would be $805.76.
The fee paid for the right to borrow money is called interest. In contrast to how the interest rate used to compute interest is normally expressed, which is as an annual percentage rate, interest expense or revenue is frequently expressed as a dollar figure (APR). Interest is the payment a lender or financial organization makes in exchange for extending credit. A stockholder's ownership stake in a corporation, which is typically expressed as a percentage, is another definition of interest.
The idea of interest is to reward one party for taking a risk and giving up the chance to utilize money, while penalizing another for using someone else's payments. The individual who temporarily parted payments with their money has a right to recompense, and the person who temporarily used those assets is frequently obligated to provide this compensation.
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15 POINTS!! HELP NEEDED ASAP!!!
Type the correct answer in the box. Spell all words correctly.
What account does a trading business use to track its inflow of goods?
A trading business will use the account _________ to track its inflow of goods.
Current?
Answer: Merchandise for Plato users, hope it helps :)
a watch manufacturer added a watch to its product line that was higher priced than the models it already carried. the company used a two-way stretch strategy.
A watch company added a watch to its product line that was more expensive than the kinds it currently carried. The corporation employed a two-way stretch approach. This statement is false.
A product is any thing or service that you sell to meet a customer's need or desire. They can be physical or virtual. Durable commodities (such as vehicles, furniture, and computers) and nondurable items are examples of physical things (such as food and beverages).
The two-way stretch is what allows you to move fluidly, to push and pull in several directions in a single action. This is what leads to the sensation of being stretched, elongated, and worked all at the same time in Pilates
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.
the information from enrique is distressing. building and maintaining a sophisticated commodity hedging team would be prohibitively expensive; but you can’t leave holden evan exposed to future commodity price spikes. you wonder if there is a good way to outsource commodity price hedging to an outside firm with strong capabilities in this area. you’re also concerned about the wisdom of having a separate procurement team for each sbu. it is clear that combining the buying power of all three sbus would produce savings. what action will you take to more effectively manage commodity costs?
The action that one may take to more effectively manage commodity costs is to consolidate your three SBU procurement teams into one.
Enter into agreements with suppliers of energy, raw grains, and chemicals, to utilize their hedging expertise to protect Holden Evan against price spikes and earn fees based on the savings they generate for your company.
What is commodity cost?Commodities are in the majority of goods that are finally get to the hands of consumers, including tires, tea, orange juice, and clothing. Commodity cost is the will to set the sales price for commodity-based end items employing the market replacement cost of the main ingredient. Commodity items such as iron ore, coffee beans, and sugar, are items for which there is a demand across commodity trading markets.
Therefore, the correct answer is as given above.
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Nigeria’s real gdp is expected to grow by 5% per year for the next 5 years, and inflation is expected to be 8% per year. If nigeria’s current real gdp is $300 billion, what will its real and nominal gdp be in 5 years? round to the nearest billion.
Nigeria's real GDP in 5 years will be $383 billion.
Nigeria's nominal GDP in 5 years will be $553 billion
What is the real and nominal GDP of Nigeria?
Gross domestic product is the sum of all the final goods and services produced in a country in a given year. Real GDP is the GDP of a country that has been adjusted for inflation. Nominal GDP is the GDP of a country that has been calculated using current year prices. It includes inflation. Inflation is when the general price levels of a country rises persistently.
Growth rate of nominal GDP is the sum of the growth rate of real GDP and inflation.
Nominal GDP = real GDP + inflation
5% + 8% = 13%
Real GDP IN 5 years = $300 x (1 + 0.05)^5
$300 x (1.05)^5 = $383 billion
Nominal GDP in 5 years = $300 x (1 + 0.13)^5
$300 x (1.13)^5 = $553 billion
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why can't the fed automatically maintain full employment and low inflation?
The Federal Reserve (fed) cannot maintain full employment and low inflation, as it wants to maintain the balance between economic activity and employment.
What is inflation?Inflation is defined as a scenario in which the market price of a commodity rises. It leads to an increase in demand for products and services, as well as a scarcity of marketable surplus.
To preserve the balance between economic activity and employment, the Federal Reserve cannot sustain full employment and low inflation. Thus, it can be concluded that Federal Reserve is responsible for the decisions regarding the economic activity.
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the Fed must walk a narrow path between providing support to economic activity and employment,
You’ve decided to give the department with the most participation in the united way campaign a pizza party. When you ask your supervisor for the funding for the pizza, what reason do you give to support your decision?.
Employees are motivated by goals because a goal is a notion of the future or a desired result that a person or a group of people foresee. An employee is a worker employed by an employer to perform a certain task.
smart goals should be used to inspire personnel (specific, measurable, aggressive, realistic, and time-bound). Employees are motivated by smart goals because they enliven behavior's, give it direction, present a challenge, encourage employees to think creatively, and inspire the development of new and original performance strategies.
Successful performance management is centered on employee goals. Setting goals can assist employees support the mission of the company. They aid workers in understanding how their efforts fit into the bigger picture and the value they add to the business.
In addition to motivating staff performance, goals also help with performance review and strategic planning.
To put it another way, without the proper objectives, performance and engagement suffer.
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services can be classified as to whether they are delivered by people or equipment, whether they are for-profit or nonprofit, and whether or not they blank . multiple choice question. require storage of inventory are technology-based adhere to the product life cycle are government sponsored
Services can be labeled as to whether they may be brought by using humans or systems, whether or not they're for-profit or nonprofit, and whether or not they are clean added with the aid of people or systems.
A Nonprofit employer additionally referred to as a non-earnings enterprise, now a not-for-profit company, or institution, is a felony entity prepared and operated for a collective, public, or social gain.
A non-earnings enterprise is a collection prepared for functions other than generating income and in which no part of the enterprise's earnings is sent to its individuals, directors, or officials.
Instead of an entity that operates as an enterprise and seeks to income its proprietors. The non-distribution constraint applies to nonprofits any sales that exceed prices ought to be devoted to the organization's cause instead of taken by way of the non-public parties.
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concept testing multiple choice seeks potential customers' reactions and attitudes toward new-product ideas before actual models are developed. takes place during the screening step of the new-product development process. is the last step before commercialization of a new-product idea. none of the answers are correct. involves usage tests by potential customers.
Concept testing: Looks for potential clients responses and demeanors toward modern item ideas-before real models are created; concept testing looks for potential customers' responses and states of mind toward unused item thoughts some time recently real models are developed.
What are the 5 stages within the modern item advancement process? Five stages direct the unused item advancement handle for little businesses: thought era, screening, concept advancement, item improvement and, at last, commercialization.
What are the 4 sorts of item advancement processes?
The 4 stages of item advancement are as takes after – R&D, Development, Development, and Decay. These may be troublesome to outline out correctly, but over time after you scale a item you'll be able get distant better;a much better;a higher;a stronger;an improved">a distant better thought approximately the organize, it's in.
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after one year of operation, van and mickey learned that several musicians who left the academy were driving to a larger town to receive similar services. in order to learn about the potential customers who were going elsewhere for lessons, van and mickey looked online to determine how the competitors services differ from theirs. they learned that competitor was open longer hours on weekends and offered more blues and jazz options. the new information van and mickey gathered and its interpretation was the part of the marketing research process.
The new information Mickey collected and his interpretation was part of the marketing research analysis process.
What is marketing research?It corresponds to a process in which data and information are collected to be analyzed in order to identify a market for the segmentation process.
The analysis of data in a marketing research corresponds to an important step, which helps in understanding the scope of the research, and identifying the information that will be relevant for the development of an organizational strategy.
Therefore, the analysis of the marketing research will help the decision-making process more aligned with the business, needs, profile and expectations of the stakeholders, enabling the mitigation of negative risks and the development of opportunities for market positioning.
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When the government does not use quotas, taxes or other means to restrict what its citizens can buy from or sell to another country, it is called trade.
When the government does not use quotas, taxes or other means to restrict what its citizens can buy from or sell to another country, it is called free trade.
In the field of business, when there is not any kind of restriction imposed by the government on import or export, then such a kind of trade is referred to as free trade.
Free trade allows a country to make revenue for its people by opening more business opportunities. The government of the countries that agree to free trade between them has little or no subsidies. The governments do not impose any trade restrictions for countries with they have a free trade agreement. There are no quotas or taxes to be paid in such a kind of trade.
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Answer:
because they had nothing better to do
Explanation:
i took the quiz
If competitors cannot easily copy the benefit a company chooses to promote, that benefit is said to be _________.
If competitors cannot easily copy the benefit a company chooses to promote, that benefit is said to be D. preemptive.
Some marketers feel that the best strategy is to aggressively market just one benefit to the target market, or to concentrate on the product's or brand's USP (USP). By using a focused marketing (or specialized marketing) strategy, the company pursues a sizable share of one or more smaller segments or niches as opposed to a tiny portion of a larger market. By tailoring its products, prices, and programs to the requirements of properly defined categories, it can market more successfully.
Based on demographics, demands, goals, shared interests, and other psychographic or behavioral characteristics used to better understand the target audience, market segmentation divides a market into subsets. You may use this targeting in your product, sales, and marketing efforts by analyzing your market segments.
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which of these is not a best practice for developing a paid social strategy? a. commit to contributing resources. b. monitor conversations about competitive brands. c. integrate organic and paid social. d. use research for smm plans. e. keep track of influencer roi.
B. Monitoring conversations about competitive brands is not a best practice for developing a paid social strategy.
A social strategy advertising method is a precis of everything you intend to do and hope to attain on social media. It guides your moves and lets you understand whether or not you're succeeding or failing. The extra unique your plan is, the greater powerful it is going to be.
A social first approach considers social media for the duration of the ideation and brainstorming phase of planning and takes social media into account all factors of marketing campaign making plans – now not simply after the content has been created.
Social marketers sell social, environmental, and monetary troubles. They improve starvation, poverty, sustainability, training, public health, and international warming problems. Thru social advertising activities, groups try to impact people's behavior, evoke focus, and produce alternatives.
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several artists in memphis, tennessee, show and sell their work in an art gallery downtown. the gallery is owned by an art lover who does not buy the paintings but displays the work of various artists. she collects a percentage on each piece sold. in terms of the marketing channel, the gallery is a(n)
Several artists in Memphis, Tennessee, show and sell their work in an art gallery downtown. the gallery is owned by an art lover who does not buy the paintings but displays the work of various artists. she collects a percentage on each piece sold. in terms of the marketing channel, the gallery is an agent.
Agent is a company or institution that acts as an intermediary for and on behalf of the principal (individual or business entity in the form of a legal entity) based on an agreement to conduct marketing without transferring rights to the physical goods and/services owned/controlled by the principal appointing him. In short, an agent can be called an intermediary who acts for and on behalf of the principal and is subject to the provisions of the law giving agreement.
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ome metals has credit sales of $144,000 yearly with credit terms of net 120 days, which is also the average collection period. a. assume the firm offers a 5 percent discount for payment in 10 days and every customer takes advantage of the discount. also assume the firm uses the cash generated from its reduced receivables to reduce its bank loans which cost 10 percent. what will the net gain or loss be to the firm if this discount is offered?
Accordingly, if dome metals has credit sales of $144,000 annually with credit terms of net 120 days, the net change in income if the new credit terms are adopted is a net gain of $2,880.
If the new credit terms are used, there will be a net change in income of $2,880.
The business should offer a discount since the 5% discount will result in a $2,880 net gain.
a. If Dome earns 25% on sales before discounts, what will the net change in income be if the revised credit terms are adopted?
$144,000 in previous sales
New Sales = Old Sales * 100% + % Sales Growth, or $144,000 * 100% + 20%, to equal $172,800.
Sales Growth is New Sales - Old Sales, or $172,800 - $144,000, or $28,800.
Profit Margin * Sales Growth = 25% * $28,800 = $7,200 for an increase in profit from new sales.
Average Accounts Receivable, net of discounts, credit equals Average Collection Period * Average Daily Sales, or 120 * ($144,000 / 360) = $48,000.
Average Accounts Receivable plus Discount = Average Collection Period * Average Daily Sales = 10 * ($172,800/360) = $4,800
Average accounts receivable without discount minus average accounts receivable with discount equals $48,000 minus $4,800, or $43,200.
Reduced accounts receivable as a result of the loan sum.
Interest Saving is equal to Interest Rate x Loan Reduction, which equals 10% * $43,200, or $4,320.
Net Gain (Loss) = Increase in credit Profit from New Sales + Interest Saving - Cost of Discount = $7,200 + $4,320 - $8,640 = $2,880 Cost of Discount = Discount Rate * New Sales = 5% * $172,800 = $8,640
The net change in income if the new credit terms are adopted is a net gain of $2,880.
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The complete question is
Dome Metals has credit sales of $144,000 yearly with credit terms of net 120 days, which is also the average collection period. Assume the firm adopts new credit terms of 5/10, net 120 and all customers pay on the last day of the discount period. Any reduction in accounts receivable will be used to reduce the firm's bank loan which costs 10 percent. The new credit terms will increase sales by 20% because the 5% discount will make the firm's price competitive.
Required:
a. If Dome earns 25 percent on sales before discounts, what will be the net change in income if the new credit terms are adopted?
b. Should the firm offer a discount?