After conducting marketing research , the subsequent step in developing a marketing plan is to selecting a target market .
What is Target Market ?
A target market may be a particular group of people with common traits to whom a company offers its goods or services. Target markets assist businesses fully comprehend their potential clients in order that they may develop marketing strategies that support their commercial and marketing goals.
The four primary categories of market segmentation are thought to be geographic, psycho-graphic, behavioral, and demographic; however, there are many other tactics you'll employ, also as countless variants on the four primary types. Here are another strategies you might want to consider.
Who is target consumer ?A target consumer is someone who will presumably purchase your product. Additionally, it's a segment of the larger target market. as an example , if female athletes between the ages of 13 and 25 structure your target market, female athletes between the ages of 13 and 16 could be your ideal target consumer.
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The traditional view of american diversity emphasized the concept of assimilation, which for many groups meant?
The correct answer is true.
Minority communities have been forced to adopt Anglo-American culture and give up their traditions as a result of assimilation.
In terms of cultural plurality, what is assimilation?In anthropology and sociology, assimilation refers to the process through which people or groups with different ethnic ancestries are assimilated into the dominant culture of a community.
What does assimilating into American society entail?Assimilation is a hotly debated idea in which immigrant groups are urged, through social and cultural practices and/or political maneuvers, to embrace the culture, values, and social behaviors of the host country in order to gain full citizenship status.
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Users of accounting information can be divided into two main groups. these groups include:____.
Users of accounting information can be divided into two main groups. these groups include internal users and external users.
Internal users include managers and proprietors of the business whereas external users contain investors, creditors of funds, suppliers of goods, government agencies, the general public, consumers, and employees.
What are the two users of computation information?
There are three immediate users of computation information: internal users, external users, and the government. Each group uses accounting information differently and requires the information to be delivered differently.
Who are the main user clusters of accounting information?
Three primary users of accounting data were previously identified, internal users, external users, and government/IRS. Each company uses accounting knowledge differently and needs the information to be delivered differently.
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What is the dollar value of the total surplus (= producer surplus consumer surplus) when the allocatively efficient output level is produced?
The dollar value of the total surplus (producer surplus plus consumer surplus) when the allocatively efficient output level Q1 is being produced is to calculate total surplus, we use the following formula for the area of a triangle:
Area = ½ × Base × Height.
The area between the demand curve and the supply curve for the quantity ranging from 0 to 20 is the total economic surplus.
This is a triangle with a base that is the price difference at Q = 0, of points a and c (110 - 10), and a height of 20 (the number of units purchased in equilibrium).
Using these values, we have a total surplus of $1000. The consumer surplus is the area between the demand curve and the equilibrium price line.
Here we have a base that is the price difference between the demand schedule price at Q = 0, which is $110, and the equilibrium price of $50.
The height of the triangle is once again 20 (the number of units purchased in equilibrium). Using these values, we have a consumer surplus of $600.
What is a consumer surplus?Consumers surplus is a measure of consumer welfare. Consumers surplus means the excess of social valuation of product over the price actually paid. Consumers surplus is determined by the area of a triangle below a demand curve and above the observed price.
Therefore, the dollar value of the total surplus is $600.
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Why is the ability to maintain attention especially important in middle childhood? because ____.
The ability to maintain attention especially important in middle childhood because that is when children enter school
Reason :
Parents expect their children to be able to acknowledge and achieve simple directions and tasks. That is when children enter school.
What two advances occur during middle childhood?
During middle and late childhood children make strides in various fields of cognitive function like the ability of working memory, their ability to concentration , and their use of memory remembrance . Both changes in the brain and experience foster these abilities.
Cognitive strategies are sets of mental processes that are consciously implemented to monitor thought processes and content in order to achieve goals or resolve problems. Self-regulation theories of behavior regulate on cognitive strategies as playing a crucial role in guiding goal-directed behavior.
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Markets in which funds are transferred from those who have excess funds available to those who have a shortage of available funds are called.
Markets in which funds are transferred from those who have excess funds available to those who have a shortage of available funds are called Financial Markets
What is financial markets?
Financial markets broadly refer to any setting where securities are traded, including, but not limited to, the stock market, bond market, FX market, and derivatives market. Capitalist economies cannot function well without financial markets.
Financial markets are essential for the efficient running of capitalist economies because they distribute resources and provide liquidity to firms and entrepreneurs.
Buying and selling financial assets is made simple by the markets. Financial markets provide securities products that offer a return to people with extra money (investors/lenders) and make that money accessible to others who need more cash (borrowers).
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Suggest two actions that the company could take to overcome the shortage of labour.
Methods for overcoming the labor shortage and attracting candidates are:
Enhance the recruitment process.Improve the training procedure.What do we mean by a shortage of labor?When there is a labor shortage, it means that employers are having difficulty finding qualified candidates for available job openings. There aren't enough candidates to fill the positions they're looking for, and the few that are available are difficult to find. Staffing shortages could slow GDP growth, cause a recession, and stymie the growth of industries dominated by blue-collar workers and manual laborers in the long run.Methods for overcoming the labor shortage and attracting candidates are:
Enhance the recruitment process.Improve the training procedure.Examine your management style again.Encourage and provide opportunities for growth and development.Enhance the working environment and provide superior benefits.Therefore, methods for overcoming the labor shortage and attracting candidates are:
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Suppose that the price of tea, which might be a substitute for coffee, goes up. this might lead to ____ in the coffee market.
Let's say the cost of tea, a possible coffee alternative, increases. This might enhance consumer demand for coffee.
What Is a Demand?A consumer's desire to buy products and services and willingness to pay a certain price for them are two aspects of demand, an economic notion. When a product or service's price goes up, less people will typically buy it. In a similar vein, a rise in demand will follow a fall in a product or service's price.
Demand is a concept that both customers and businesses are highly familiar with because it is logical and happens frequently throughout the course of almost any day. When a product's pricing is low, for instance, shoppers who are keeping an eye on it will purchase more of it. Shoppers purchase fewer items or sometimes none at all when anything occurs that increases the price, such as a change in season.
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You notice that juice is now selling for much higher prices than in the past. which two things would you expect to happen next?
When there is a condition that juice is being sold for much higher prices than in the past, one can expect lowered demand and increased supply for juice to happen next.
What is the significance of a demand?A demand is a phenomenon which has an indirect relationship with the price of such product. Thus, when price of a product, such as juice, increases, its demand naturally decreases with an increase in the supply of the juice. There may also be a shift in the demand for alternatives to juice being increased.
Therefore, the significance regarding demand has been aforementioned.
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________ is a statement about what will happen or might happen in the future, for example, predicting future sales or employee turnover.
Regression is a statement about what will happen or might happen in the future such as future sales or employee turnover.
What is Regression Analysis?Regression Analysis can be described as the statistical technique, which is been used in the evaluation of the relationship between two or more variables.
It should be noted that the Regression analysis can be used in an organization to understand data points and what it represent, hence Regression is a statement about what will happen or might happen in the future such as future sales or employee turnover.
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Once small businesses hire employees, they can _____ to increase job satisfaction and retain their employees.
Once small businesses hire employees, they can offer flexible working hours, Provide comfortable working conditions, Share profits with employees, Provide employee benefit programs to increase job satisfaction and retain their employees.
What is Share profits?
Profit sharing refers to a variety of incentive programs that companies have implemented that, in addition to employees' regular salaries and bonuses, offer direct or indirect rewards to workers based on the company's profitability.
Therefore,
Once small businesses hire employees, they can offer flexible working hours, Provide comfortable working conditions, Share profits with employees, Provide employee benefit programs to increase job satisfaction and retain their employees.
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The tendency of the return on stockholders' equity to vary disproportionately from the return on total assets is because of:________
A metric of financial performance known as return on equity (ROE) is obtained by dividing net income by shareholders' equity. ROE is referred to as the return on net assets since shareholders' equity is determined by subtracting a company's debt from its assets.
The tendency of the return on stockholders' equity to vary disproportionately from the return on total assets is because of ROE. Return on assets (ROA) is a metric for gauging how effectively a business uses its assets to make money. ROA is a metric that managers, analysts, and investors use to assess a company's financial standing.
Because the business may make more money with a less investment, the higher the ROA number, the better. Simply put, a higher ROA translates into greater asset efficiency.
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Although entrepreneurs expect to succeed, they must be realistic and recognize that they are taking a(n) ________because many small businesses also fail every year. listen to the complete question
"Although entrepreneurs expect to succeed, they must be realistic and recognize that they are taking a Risk because many small businesses also fail every year", so answer is Risk.
Who is an Entrepreneur ?An individual who starts a new firm, taking on the majority of the risks and reaping the majority of the gains, is known as an entrepreneur. Entrepreneurship is the practice of starting a business. The entrepreneur is frequently viewed as an innovator, a source of fresh concepts for products, services, businesses, and operational methods.
The Bureau of Labor Statistics reports that over 20% of small enterprises fail during the first year. Thirty percent of enterprises will fail before the end of the second year. About half of students will have failed by the conclusion of the fifth year. Additionally, just 30% of enterprises will still be operating by the end of the decade, representing a 70% failure rate.
Therefore, the answer is Risk, every entrepreneur wants to succeed but they should realize that they are taking a risk.
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Three virtues of the market system include _________________, __________________, and ________________.
The three virtues of the market system include efficiency, freedom & incentives.
What is a market system?This refers to the network of buyers, sellers and other actors that come together to trade in a given product or service. The participators in the market system include the direct market players such as producers, buyers, and consumers who drive economic activity in the market.
The type of market system includes Perfect Competition, Monopoly, Oligopoly, Monopolistic Competition and Monopsony. However, the 3 virtues of the market system include an efficiency, freedom, incentives.
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A company reports an increase in retained earnings of $2.8 billion and dividends of $2.0 billion. what is the amount of net income?
Amount of net income of Company is = Increase in retained earnings + dividend paid when company reports an increase in retained earnings of $2.8 billion and dividends of $2.0 billion .
= $2.8 billion + $2.0 billion
= $4.8 billion
What is Net Income of a company ?
The amount earned by an individual or business after costs, allowances, and taxes is referred to as net income.
Net income in company is the amount that remains after all costs, such as salaries and wages, the cost of goods or raw materials, and taxes, have been paid. Net income is the amount that a person keeps after paying taxes, health insurance premiums, and retirement contributions. For financial health to be evident, net income should ideally exceed expenses.
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Hiring workers, dealing with suppliers and serving customers are all part of ______.
The answer is:- implementation.
Hiring workers, dealing with suppliers and serving customers are all part of implementation.
What exactly is an implementation plan, and why is it crucial?The stages to achieving a goal or aim are outlined in an implementation plan, a project management tool. The plan determines how a project will be carried out, turning an idea into goals that may be attained. It is a type of paperwork that might be included in a service-level agreement (SLA). An SLA outlines the services and delivery conditions a vendor will offer to a customer.
Depending on the product, implementation strategies may vary, however the following components are typically included:
Goal. This is what a project's goal is at the end.
Objectives. To reach the objective, certain tasks, milestones, and activities must be completed.
criteria for success. Stakeholders, project managers, and policymakers use this standard to decide whether a project is finished and meets their expectations.
Defining the scope. The project scope describes the project's parameters and details what the team will and won't do. The project scope is frequently specified in a statement of work document.
a plan for the use of resources. This lists the materials that the implementation team will require.
risk evaluation. Teams working on implementation employ risk analysis to find potential issues.
Timeline. A timetable outlines the deadlines and anticipated completion dates for each milestone. Gantt charts and other project management tools can aid in rendering this.
roles and obligations. a breakdown of the tasks and duties of each team member and stakeholder.
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What resources are available to assist counselors in the selection of the appropriate psychological tests and/or assessments for a client?
Psychological tests and/or Assessments for a client: Client's past records, Relevant publications, Referral information, Standardization, Objectivity, Reliability, Validity
Psychological assessment:
A clinical psychologist's psychological testing and interviewing techniques assist firms in selecting the best candidates. Using Dr. Bargreen's method for candidate evaluation, you can tell if a potential employee is a suitable fit for your business and analyse whether they have the potential to advance it. Psychological assessments can be used in scenarios involving hiring decisions, succession planning, managerial selection, and employee counselling. In terms of money, psychological testing can help your company avoid spending thousands of dollars on the wrong hire. By excluding people who are not a good fit for your organisation, psychological testing helps safeguard your business. Dr. Bargreen conducted his PhD dissertation on the number one personality assessment tool, the MMPI-2 and can boost your business by helping you hire the proper individual for the position.
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Daily lift passes were sold this month for a total of $85,200 cash. record the transaction.
Each day elevate passes had been bought this month for a total of $85,200 cash. document the transaction: coins To carrier sales.
A transaction is a finished agreement among a buyer and a vendor to trade goods, services, or financial property in return for cash. The term is also usually utilized in company accounting. In enterprise bookkeeping, this undeniable definition can get elaborate.
Examples of transactions are as follows: Paying a provider for offerings rendered or items brought. Paying a supplier with cash and a notice in an effort to attain possession of a belongings formerly owned by using the vendor. Paying an employee for hours worked.
Term Transaction method a Transaction deliberating more than one Transfers with a delivery length the length of which is one (1) calendar month or greater.
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A company purchases a building by signing a $200,000 10% interest bearing note due at the end of five years. at what amount should the building be recorded?
The amount the building should be recorded is the present value of the amount payable in 5 years which is $124,184.26
What is the present value of future payment?
The present value of the payment expected in 5 years is determined as using the present value formula of a single cash flow in respect of the building:
PV=FV/(1+r)^N
FV=year 5 payment=$200,000
r=interest rate=discount rate=10%
N=number of years before payment is due=5
PV=$200,000/(1+10%)^5
PV=$124,184.26
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A business purchases $5,000 in equipment with cash. how would this transaction affect the accounting equation?
This raises the asset account for inventories as well as the accounts payable (Liability). The signature of a note for the acquisition of equipment changes the accounting equation by raising total assets and total liabilities. When equipment is purchased, the asset account for that item is boosted.
All transactions completed to account for the equipment acquisition appear on your balance sheet, not your income statement, at the time of purchase. Debit the whole cost of the transaction from the appropriate asset account, such as one for office or factory equipment.
It follows that all activity occurs on the asset side of the balance sheet: Assets: Equipment increase
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Supply chain management is an example of a(n)_______because it spans two or more independent organizations.
Supply chain management is an example of a(n) inter-enterprise information system because it spans two or more independent organizations.
More about Supply chain management:
Supply chain management, which covers all procedures that convert raw materials into finished commodities, is the management of the movement of goods and services. It entails actively streamlining a company's supply-side operations in order to increase customer value and obtain a competitive edge in the market.
The management of a product's creation and flow, from sourcing raw materials to manufacture, distribution, and delivery to the final consumer, is known as supply chain management (SCM).
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What item flows from the income statement to the statement of retained earnings?.
The statement of retained profits is updated with the net income from the income statement.
The sum that is left over after all expenses, including as salaries, the price of goods or raw materials, and taxes, have been covered is known as net income. The amount that a person keeps after paying taxes, health insurance premiums, and retirement expenses is known as net income.
What differences exist between gross and net income?
Looking for a faster, more accurate way to calculate pay? The sum of an employee's paycheck that is left over after payroll deductions such as taxes, benefits, and other expenses is referred to as their gross pay. Net pay, often known as take-home pay, is what is left over after all withholdings have been deducted.
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An extreme, life-threatening, systemic reaction that may include shock and respiratory failure is known as what?
Anaphylaxis is a severe, sometimes fatal, systemic reaction that can cause shock and respiratory failure.
Anaphylaxis
Anaphylaxis is a potentially lethal condition that receives insufficient attention and care. The failure to recognize that anaphylaxis is a much more extensive syndrome than "anaphylactic shock" and that the goal of therapy should be early recognition and treatment with epinephrine to prevent progression to life-threatening respiratory and/or cardiovascular symptoms and signs, including shock, may be partially to blame.
Your immune system overreacts to an allergen when you have an allergy, releasing substances that lead to allergy symptoms. These unwelcome symptoms typically affect just one part of the body. However, some people can experience an anaphylactic reaction, which is far more serious.
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A salesperson with a(n) ________ orientation tends to focus more on selling to existing customers by building long-term relationships.
'A salesperson with farming orientation tends to focus more on selling to existing customers by building long-term relationships.
Seller is the plural form of seller, a person whose business is to sell products or services. A less common plural form of cellar is cellar. Another term for a salesperson is salesperson (or sales person).
Seller is a person who sells goods or services. An example of a seller is someone who sells cars. salesman. A person engaged in the sale of goods or services.
A great salesperson should offer customers more than an inspiring sales pitch. He is an enthusiastic and resilient person who understands the needs of his customers, shows empathy and takes the time to sell his products with confidence.
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Efforts to gain power, influence those in power, bring new people to power, or throw current leaders out are forms of?
Efforts to gain power, influence those in power, bring new people to power, or throw current leaders out are forms of Politics .
What is Politics means ?
Politics is the process by which people who live in groups make decisions. Politics is the process of reaching agreements between people in order for them to live together in groupings such as tribes, towns, or countries. Some people in huge groupings, such as countries, may spend a significant amount of time making such agreements. These folks are known as politicians. Politicians and other people may band together to form a government. Political science, political studies, and public administration are all terms used in universities to describe the study of politics.
In ordinary parlance, the phrase "politics" refers to how countries are governed and how governments adopt rules and laws. Politics can also be found in other types of organizations, such as businesses, clubs, schools, and churches.
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You run a company that uses all of the latest fire protection features and services available. what type of insurance would be most beneficial to your bottom line? group of answer choices
Mutual fire insurance would be the most advantageous for your financial situation.
A Mutual Insurance Company: What Is It?
An insurance provider that is owned by its clients is known as a mutual insurance company. A mutual insurance company's members have the power to choose the management, and its only goal is to provide insurance protection for its members and policyholders. Mutual insurance businesses invest in portfolios similarly to a traditional mutual fund and distribute earnings to members in the form of dividends or lower premiums. State law does not govern whether an insurer qualifies as a mutual insurance business; federal law does.
KEY LESSONS
A mutual insurance firm is one that is owned by its clients.
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Joel takes out a loan with a stated rate of 11.85% interest. if the interest is calculated weekly, how much greater is joel’s effective rate than his stated rate? a. 0.72 percentage points b. 0.52 percentage points c. 0.70 percentage points d. 0.67 percentage points please select the best answer from the choices provided a b c d
Joel takes out a loan with a stated rate of 11.85% interest. If the interest is calculated weekly, 0.72 percentage points greater is joel’s effective rate than his stated rate.
EARs are often accustomed to evaluate interest payable on a loan or any debt or to assess earnings from an interest 0.72 percentage points investment, like a guaranteed investment certificate (GIC) or bank account.
The effective annual rate is additionally referred to as the effective charge per unit (EIR), annual equivalent rate (AER), or effective rate. The effective annual rate is often beyond the nominal rate because the nominal rate quotes a yearly percentage rate no matter compounding.
Increasing the amount of compounding periods increases the effective annual rate as compared to the nominal rate. Effective yield takes into consideration the facility of compounding on investment returns, while nominal yield doesn't.
The stated annual rate describes an annualized rate of interest that doesn't take under consideration the effect of intra-year compounding.
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If an asset is exchanged for notes payable and the stated interest rate does not closely reflect the market rate at time of negotiation, the market rate should be established with reference to the:_______
If an asset is exchanged for notes payable and the stated interest rate does not closely reflect the market rate at time of negotiation, the market rate should be established with reference to the value of the asset or service exchanged.
What is market rate?The market rate, sometimes referred to as the going rate, is the average cost of an item or service in a free market as opposed to a price set by a government agency.
Producers typically increase a product's price in response to rising demand, raising the market rate. The converse happens when demand decreases.
Employee compensation is also based on market prices. The going rate, or standard rate for the kind of job being done, is what an employer who pays the market rate pays to their employees.
Market rate, as used in the financial industry, is the interest rate charged on a debt securities that is traded publicly. The market rate in finance reacts to market forces immediately, just like it does with commodities and services (supply and demand).
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Which targeting strategy did 5-hour energy focus on and how was the product positioned in the market? positioning is rated as high, medium, and low.
The market targeting strategy that the 5-Hour Energy is following is known to be Niche Marketing.
Check more about Niche marketing below.
Why follow Niche Marketing?There are different areas of marketing. The 5-Hour Energy is known to follows Niche Marketing due to the fact that they have a particular group of customers of which they have to place their full focus on.
Note that they are firms that are set on fulfilling the needs of what their customers’ as well as their requirements.
Thus they added ingredients that will make a substantial boost in energy with also a combination of vitamins and amino acids to their products.
Therefore, based on the above, one can say that The market targeting strategy that the 5-Hour Energy is following is known to be Niche Marketing.
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Each of the following is a determinant of demand except:__________
a. the number of consumers in the market.
b. technology.
c. expectations.
d. tastes.
e. the prices of related goods.
Each of the following is a determinant of demand except Technology
Determinants Of Demand: The variables that affect the economic demand for a good or service are known as demand determinants.
7 Factors which Determine the Demand for Goods
1) Tastes and Preferences of the Consumers
2) Incomes of the People
3) Changes in the Prices of the Related Goods
4) The Number of Consumers in the Market
5) Changes in Propensity to Consume
6) Consumers' Expectations with regard to Future Prices
7) Income Distribution
Each of the following is a determinant of demand except Technology
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Leadership is a reciprocal relationship with others that aims to bring about positive change.
a. true
b. false
False. Leadership is a mutually beneficial interaction with others that tries to effect change for the better.
What is leadership?Being capable of and ready to inspire others is at the core of leadership. The foundation of good leadership is the ability to effectively communicate both original and borrowed ideas to others in a way that piques their interest and motivates them to follow the leader's instructions.
In addition to guiding the actions of others, a leader encourages people to take action. In addition to having the critical thinking abilities to know how to use the resources available to an organization in the most effective way, they must be likable enough to get people to follow their instructions.
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