Your company has just made the scientific breakthrough of the century. it has invented a tattoo cream that permanently removes unwanted tattoos. twelve applications of the skin cream solution results in smooth, tattoo-free skin without the need for costly plastic surgery. there are other products that claim that they eliminate tattoos, but they only conceal rather than remove tattoos. assume that the product has been positioned as a specialty good and that it is in the introduction stage of the product life cycle. as the product manager for tattoo skin solutions; what pricing strategy would you recommend to market your product?
Final answer:
A recommended pricing strategy for the tattoo removal cream would be skimming pricing, where the initial price is set high and gradually decreased over time. This strategy capitalizes on the uniqueness of the product and attracts early adopters.
Explanation:
Since the given product is positioned as a speciality good and is in the introduction stage of the product life cycle, a recommended pricing strategy would be skimming pricing. Skimming pricing involves setting a high initial price to maximize profits from the early adopters and then gradually lowering the price over time to attract more price-sensitive customers.
By adopting a skimming pricing strategy, Tattoo Skin Solutions can capitalize on the uniqueness and effectiveness of its product, attracting customers who are willing to pay a premium for tattoo removal. The company can then adjust the price downward as competition increases or as its target market expands, making the product more accessible and appealing to a wider audience. Additionally, effective marketing and promotion strategies can be employed to create awareness and generate demand for the product during the introduction stage of the product life cycle.
Time warner has different divisions for magazines, movies, recordings, cable television, and so on. the warner bros. part of the empire alone has divisions spanning movies and television, a broadcast network, retail stores, theaters, amusement parks, and music. time warner is an example of an organization with ____ divisions.
Your brother is starting 9th grade next year and is thinking about going to college. What steps would you recommend he take ?
Don, a new manager, commented to a friend, "i am excited about different aspects of my new job. the company computers have entered the field of decision making. the network not only collects information more quickly, but the system also reduces the roadblocks when i need a group consensus." don is referring to
Fedex has learned that its customers expect packages to arrive on time and in good condition, and that customers wish to have control over their orders. by seeking to understand customer expectations, fedex seeks to close the ______ gap.
FedEx seek to close the knowledge gap.
Further Explanation:
Knowledge Gap:
Knowledge gap is a phenomenon where the knowledge about the product and service provided by the company differs from the knowledge perceived by the customer. The management of the company market its product with a specific and defined motto. When there is a difference between what companies are conveying and what customer perceives, then this phenomenon is known as knowledge gap.
In the current case, FedEx is giving the authority to the customer to track their order in transit. The increase in the authority to the customer will lead to a decrease in the knowledge gap of the customer because the customer will be aware of the process of the company, their operational activities and other products and services provided by them. It will help in increasing the awareness about the company’s existence.
Therefore, FedEx is trying to close the knowledge gap among its customers.
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Answer details:
Grade: Senior School
Subject: Business studies
Chapter: Customer Awareness
Keywords:FedEx, learned, customers, expect packages, arrive, on time, in good condition, customers, wish, have, control, over, orders, seeking, understand, customer, expectations, close gap.
Someone hacks into your information system and discovers a file of apparently critical information to your organizations performance. this file contains false information and has been placed in the system by the organization as a decoy. this file is an example of:
What is an opportunty cost?
A company has a factory that is designed so that it is most efficient (average unit cost is minimized) when producing 28,500 units of output each month. however, it has an absolute maximum output capability of 35,000 units per month, and can produce as little as 7,000 units per month without corporate headquarters shifting production to another plant. if the factory produces 18,170 units in october, what is the capacity utilization rate in october for this factory? (round your answer to 1 decimal place.)
italy currently limits the number of coach bags that can be imported during a one-year period, since coach bags are made in new york, usa. this is an example of a(an) ____
Walmart advertises itself as the low cost provider and aggressively works to keeps its costs down so it can maintain enough profit to grow globally. we would expect the organizational structure of walmart to be ____________.
Jess owns a sandwich shop. the price of a sandwich recently increased from $5 to $7. jess responded by increasing the quantity of sandwiches she supplied from 70 to 90 per day. using the midpoint method, jess's price elasticity of supply is equal to
Hewitt packing company has an issue of $1,000 par value bonds with a 14 percent annual coupon interest rate. the issue has ten years remaining to the maturity date. bonds of similar risk are currently selling to yield a 12 percent rate of return. the current value of each hewitt bond is _________.
Final answer:
The current value of each Hewitt bond is $964, influenced by interest rates. Investors should consider market rates to assess bond values accurately.
Explanation:
The current value of each Hewitt bond is $964. The price is calculated based on the present value of future cash flows, which accounts for the coupon payments and the face value of the bond.
When interest rates rise, bond prices fall, making older bonds with lower rates less attractive. This explains why the Hewitt bond, with a 14% coupon rate, would be priced at $964 in a 12% rate environment.
Investors should consider current market rates to assess bond values accurately. Understanding how interest rate changes affect bond prices is crucial in bond investing.
A primary disadvantage of using ____ in the needs assessment process is that the data obtained may lack detail. crowd-sourcing. interviewing. surveys. observation.
Important guidelines for the use of statistics in a speech?
Define what is meant by an amodal shipper, and discuss the factors that have contributed to its growth
An amodal shipper uses multiple transportation modes seamlessly, enabled by the adoption of intermodal containers. Factors such as cost reduction, increased delivery speed, and improved logistics efficiency have contributed to their growth. This innovation has significantly impacted global supply chains and manufacturing practices.
An amodal shipper refers to a shipping company that utilizes all available modes of transportation - including trucks, trains, barges, and ships - to deliver goods in a seamless and efficient manner. Factors contributing to the growth of amodal shippers include the invention and adoption of the intermodal container, which standardized cargo transportation, reduced costs, and increased the speed of delivery. With containerization, goods can be easily transferred between different transport modes without being unloaded and reloaded, significantly cutting labor costs and improving logistics efficiency.For example, prior to the widespread use of intermodal containers, break-of-bulk points required many dockworkers to load and unload cargo. Now, a few workers using gantry cranes can transfer containers quickly between ships, trains, and trucks, enhancing the overall supply chain. This streamlined system has lowered the transportation cost, thus making it viable for companies to outsource and offshore manufacturing, contributing to the rise of globalization.Does this record contain a certificate, or is the certificate included in a separate record. does the certificate fit into a single ethernet frame?
Acceptance sampling is an important quality control technique, where a batch of data is tested to determine if the proportion of units having a particular attribute exceeds a given percentage. suppose that 10% of produced items are known to be nonconforming. every week a batch of items is evaluated and the production machines are adjusted if the proportion of nonconforming items exceeds 15%
Acceptance sampling is a quality control technique used to check if the proportion of nonconforming items exceeds a specified percentage in a batch. If the proportion exceeds the limit, the machines are adjusted. For example, if a batch contains 100 items and more than 15 of them are nonconforming, adjustments are needed.
Explanation:Acceptance sampling is an important quality control technique used to determine if the proportion of nonconforming items in a batch exceeds a specified percentage.
In this case, the acceptance sampling is done weekly to evaluate the proportion of nonconforming items. The production machines are adjusted if the proportion exceeds 15%.
For example, if a batch contains 100 items, and more than 15 of them are nonconforming, the machines would need to be adjusted.
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Acceptance sampling is indeed a crucial quality control method, allowing businesses to assess the overall quality of a production batch by inspecting a representative sample.
What is Acceptance sampling?This approach is particularly useful when evaluating large batches or when conducting destructive testing, as it reduces the need to examine every single item.
In the scenario you've described, 10% of manufactured items are known to be nonconforming, indicating that the overall production process is generating a significant number of defective products.
To address this issue, the company has implemented a weekly inspection procedure, evaluating a batch of items to determine if the proportion of nonconforming items exceeds 15%. If this threshold is surpassed, the production machines are adjusted to rectify the problem and bring the nonconformity rate back within the acceptable range.
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When it comes to prior experience, what is the rule of thumb regarding how many years of experience you should have in a comparable firm before starting a firm of your own?
Final answer:
The answer discusses the recommended years of experience before starting a firm, the importance of angel investors and venture capitalists for startups, and factors contributing to success in a firm.
Explanation:
The rule of thumb for how many years of experience you should have in a comparable firm before starting your own varies. Generally, it is recommended to gain 3-5 years of relevant experience to understand the industry, build connections, and acquire skills before venturing out on your own.
Startup firms are inherently risky, and founders need to be deeply committed to the venture. Angel investors and venture capitalists play a crucial role in supporting early-stage startups by providing funding and guidance.
Success in a firm depends on various factors such as industry knowledge, work ethic, and understanding the market demands. It is advisable to seek advice from experienced individuals and assess your own readiness before starting your own firm.
When the cost of the cpi market basket increases from one year to the next we know that?
The cost of the CPI market basket increases from one year to the next, we know that. Increase on the average.
What is the market?A market is a place where people can exchange goods and services, there are many types of markets are there by which people can gather and exchange goods of their products, as well as their services in it nowadays the market can be physical as well as virtual way, can be there in it.
There are different markets are being there it can be a financial market, or illegal markets are there in it people do the trading from it and generate money from it. So there are different places and different markets are being there in it.
CPI market basket increases from one year to the next, we know that. Increase on the average.
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What is an allocation of scarce resources using some method other than price a. Rationing c. Spillover Costs b. Supply Shock d. Price Ceiling
Answer:
The correct answer is letter "A": Rationing.
Explanation:
Rationing is an allocation method normally imposed by governments during national major situations like war or natural disaster strikes, where scarce resources have limited to restricted distribution to ensure proper and balanced allocation only when it is necessary.
What strategy decisions are needed in the personal selling area? why should the marketing manager make these strategy decisions?
The momentary supply of wheat has an elasticity of supply equal to _______. the short-run supply of wheat has an elasticity of supply equal to _______
Final answer:
In the momentary supply of wheat, elasticity is nearly zero due to the inability to adjust production immediately, making it perfectly inelastic. The short-run supply of wheat is more elastic than momentary supply but remains inelastic because of the limited adjustments producers can make in a shorter timeframe.
Explanation:
The elasticity of supply can vary depending on the time frame being considered. Momentary supply is the supply available immediately, where no adjustments can be made to production, making it typically perfectly inelastic or fixed. The supply of wheat in this case would have an elasticity of supply close to zero in the very short term.
In the short-run supply, some adjustments can be made, though not all factors of production are variable. Therefore, the supply of wheat would be more elastic than in the momentary case, but still generally inelastic because of the limited time to adjust the production process. Over time as producers can adjust, supply becomes more elastic, particularly in the long-run when all inputs are variable.
In summary, the momentary supply of wheat has an elasticity of supply close to zero, whereas the short-run supply of wheat has an elasticity that is greater than zero but still relatively inelastic. Over time, as firms adjust their production capacity and processes, the elasticity of supply increases, becoming more flexible with the passage of time.
Brenda is an electrician with bright light home and business. into which category of job does she best fit
Marilyn's travel inc. is a medium-sized travel agency that specializes in vacation packages. it has packages available around the globe-everything from cruises, to beach resort vacations, to historical tours. the customer chooses the amount they would like to pay, the area of the world they would like to visit and what they would like to do. based on this information marilyn's travel uses __________ to delight the customers. lean manufacturing excellent human resources management mass customization the internet
Final answer:
Marilyn's Travel Inc. uses mass customization to provide personalized vacation packages to its customers, catering to their individual preferences and budgets.
Explanation:
Marilyn's Travel Inc., a medium-sized travel agency specializing in vacation packages, delights customers by using mass customization. By allowing customers to choose the amount they wish to pay, the area of the world they would like to visit, and their preferred activities, Marilyn's Travel can craft personalized vacation experiences that meet individual needs and preferences. Utilizing mass customization, the agency aligns its services with the evolving landscape of consumer demands in the travel industry, ensuring a memorable and tailored travel experience for each customer.
For the nation's capital stock to grow, net investment must be positive.
a. True
b. False
The statement, ( For the nation's capital stock to grow, the net investment must be positive ) is true. Therefore the government was spending in the national account.
What is the investment?Investment is the ceremonial of money to purchase an asset to attain an increase in value over a time period of time. Investment requires a sacrifice of some present quality, such as time, medium of exchange, or effort. In finance, the purpose of investing is to generate a return from the invested asset.
As per the National capital stocks for growth, A net investment must be positive. The overall GDP of the United States was included as per production, By them foreign-owned. Firms that were located in the United States.
Therefore, As a result, The national capital stocks of the net investment must be positively true.
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The budget that is often considered to be the most important financial budget is the
Byron runs a business cleaning gutters. lance, who is in a wheelchair, applies for a job working for byron as a cleaner. byron does not hire lance and is very frank about the reason: lance's disability. if lance sues byron,
In the given scenario, the person who is likely to win and have the upper hand is Lance. It is because Byron’s action is clearly showing a disability discrimination of which he clearly stated as to why he did not hired him in the first placed because of his disability.
Publicity often comes in the form of negative stories in the press in the aftermath of a major problem involving a consumer product. the firm's attempts to "manage" publicity so that it is more favorable fall under _______ in the promotional mix.
An alternative to car buying is to make monthly payments for a period of time and then return the vehicle to the dealer or purchase it.This is called
On december 1, watson enterprises signed a $24,000, 60-day, 4% note payable as replacement of an account payable with erikson company. what is the journal entry that should be recorded upon signing the note?