The correct answer to the given question about management philosophy being adopted is option e) Sales Orientation.
A business approach known as "sales orientation" is centered on creating the greatest products and services possible without taking the requirements or wishes of the client into account. This strategy typically relies on aggressive, outbound sales techniques and marketing initiatives to increase sales. If a corporation is sales-driven, the marketing department will be in charge of developing the promotional activities that convince consumers they require a product, even if no market research has been conducted to demonstrate their desire or need for that product. In the end, it is their responsibility to generate interest in the product. In the sales division, sales representatives will spend time cold calling and offering discount promotions in order to close deals quickly. Sales cycles are frequently shorter in companies with a sales focus.
Question
Which marketing management philosophy is often adopted by organizations that sell unsought products such as life insurance, retirement plans, and preplanned funeral services
a. Profitability orientation
b. Production orientation
c. Marketing orientation
d. Product orientation
e. Sales orientation
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Assume there are two profit-maximizing water service providers in this market who had formed a successful cartel. Now assume that the cartel breaks down, so that they are not able to collude on the price and quantity of service contracts to sell. How many service contracts will be sold in total when this market reaches a Nash equilibrium
A total of 12,000 premium digital channel cable TV subscriptions will be sold when this market reaches a Nash equilibrium.
The Nash equilibrium, which bears the name of the mathematician John Nash, is the approach that game theory uses the most frequently to describe the outcome of a non-cooperative game involving two or more participants. Changing one's own strategy won't help anyone if everyone in a Nash equilibrium is aware of one another's equilibrium tactics. The concept of Nash equilibrium was initially presented by Cournot in 1838 in respect to the production decision made by rival enterprises. Each player in the game has a distinct approach they will use. If no one can raise their projected benefit by changing their strategy and the other players continue to use their present one, the players will use their current set of strategies.
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What is opportunity cost in risk management?
Explanation:
Opportunity cost risk occurs when a better opportunity presents itself after an irreversible decision has been made. In a financial context, opportunity cost is often articulated in terms of the time value of money, and can be defined as the failure to use cash in an economically efficient way.
Which best describes which careers would work in offices? O Marketing Information Management and Research, Distribution and Logistics, and Marketing Communications and Promotion employees can work in offices. All Marketing, Sales, and Service employees can work in offices. All Marketing, Sales, and Service employees except those in Management and Entrepreneurship can work in offices. O Sales and Service employees work in offices, but Marketing employees do not. pls help me
Answer:
Marketing Information Management and Research, Distribution and Logistics, and Marketing Communications and Promotion employees can work in offices
Explanation:
I took this test before and this was the answer
Answer:
A
Explanation:
'Money is what money can buy' and 'Money is that which money does'.
Would you say the two statements above mean the same thing or are similar in any form ?
Give reason for your answer.
Which of the following is not a component of internal analysis leading to competitive advantage?
a.Tangible and intangible resources.
b.Analysis of supplier power.
c.Capabilities.
d.Core competencies
Supplier power analysis is not a part of internal analysis that produces a competitive advantage.
A trait that enables a corporation to outperform its competitors is known as a competitive advantage. Competitive advantages include access to natural resources like high-grade ores or a cheap supply of energy, highly skilled labor, a strategic location, high entry barriers, and access to cutting-edge technologies and proprietary information. Competitive advantage is the advantage a business has over its rivals. This can be done by giving them better and more valuable things. Advertising products or services with lower prices or higher quality piques consumer interest. This is the rationale behind why customers choose one brand of product or service over an alternative. To grasp competitive advantage, one must comprehend value proposition.
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You can compare the debts you
have paid off for your business in
the past year by looking at the
A. Balance Sheet
B Accounts Payable Sheet
C. Gross Income Sheet
Answer:
a). balance sheet
Explanation:
What goods will be produced in a free enterprise?
A free business economy produces things for those who are able and willing to purchase them. something that a person or organization owns.
Free-market capitalism:The types of enterprises that citizens may own or operate are rarely restricted by the government under a free enterprise economy. Others commonly use the terms "free market" or "capitalism" to describe this type of structure.
Free enterprise or the free market refers to an economy where the market determines prices for goods and services rather than the government. There is no governmental oversight of companies or services. The phrase "free enterprise" can also refer to a philosophical or legal system where the private sector exercises the bulk of authority over economic activities.
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According to Porter, strategy is fundamentally about being _____. A. different B. efficient C. superior D. scalable E. profitable
According to Porter, strategy is fundamentally about being different.
Hence, Option A is correct
Michael Porter, however, describes strategy as a company's "deliberately choosing a different set of activities to deliver a unique mix of value" in order to maintain a competitive position. To put it another way, you must comprehend your rivals and the market you have chosen before you can decide how your company should respond. These forces include potential new market entrants, suppliers, customers, and substitute products that affect a company's profitability. They also include the quantity and strength of a company's competitive rivals.Operational effectiveness, according to Michael Porter, is insufficient because its methods are simple to duplicate, even though it is necessary for superior performance. In contrast, selecting a singular and advantageous position rooted in activity systems that are much more challenging to rival is the essence of strategy.To know more about strategy here
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Nori files a suit against Mica to enforce an oral contract for the sale of lakeshore property that would otherwise be unenforceable under the Statute of Frauds. The court could enforce the deal if:
Nori foreseeably and justifiably relied on Mica's promised to her detriment
Mica denies the existence of any contract
neither party has begun to perform
the deal does not involve customized goods
The court could enforce such a contract if a) Nori foreseeably and justifiably relied on Mica's promise to her detriment.
The promisor may be restrained from contesting the existence and legality of the contract if the promisee properly depends on the promise on which the promisor made the promise, to the prejudice of the promisee.
A substantive rule of contract law that states that if the evidence conflicts with or modifies the terms of a written contract, the court will not allow evidence of the parties' prior conversations, oral or written agreements, or contemporaneous oral agreements.
A verbal agreement is enforceable under the Uniform Commercial Code to the degree that either the buyer or the seller has accepted delivery of the items covered by the agreement.
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What 4 questions should you ask yourself before using credit to make a purchase?
4 questions you should ask yourself before using credit to make a purchase are-
What will be the actual cost if I can't pay if off in full?Can I save up enough to pay cash if I wait a few weeks?Will using a credit card help if I need to return the item or extend the warrantyWill I get my money's worth?One should also focus on following things-
rate of interest principal amountcollateral details duration of repaymentAll these terms are fixed before the credit is given to a borrower. Before swiping a card these things need to be taken into consideration.
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What may be a concern if you have an adjustable rate mortgage ?
Adjustable rate mortgage is subject to change, depending on the market. As a result, you stand to gain from declining rates while simultaneously running the risk of losing when rates rise.
What is an adjustable-rate mortgage?A mortgage loan with an interest rate that is periodically altered based on an index that reflects the cost to the lender of borrowing on the credit markets is known as adjustable rate mortgage. It is also known as variable-rate mortgage, or tracker mortgage. Borrowers who use adjustable rate mortgage run the danger of having to make larger monthly payments once the introductory period is over. The interest rate will then fluctuate at predetermined intervals, typically every year or every six months.The base rate or standard variable rate set by the lender may be used for the loan. Based on market rates at that time, the new rate may be greater than the initial rate.Some pros and cons of adjustable rate mortgage are listed below:-PROS:-
One advantage is that they frequently have cheaper interest rates than fixed-rate mortgages.
A lower rate may allow you to pay more principal each month.
Rates could decrease later
CONS:-
Over time, rates may increase.
Some caps may result in negative amortization.
Your recurring payment may change.
When rates change, you have no idea how your finances will fare.
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What are the 3 types of ownership?
The 3 types of ownership are Sole Proprietorship, Partnership and Corporation
1. Sole Proprietorship: A sole proprietorship is an unincorporated business owned and operated by one individual. The owner is entitled to all profits and is responsible for all losses, debts, and liabilities.
2. Partnership: A partnership is an unincorporated business with two or more individuals who share ownership and management. The owners share in the profits and losses and are jointly responsible for the debts of the business.
3. Corporation: A corporation is a legal entity created by a state and separate from its owners. It has the authority to enter into contracts, borrow money, pay taxes, and sue and be sued. The owners of a corporation are shareholders and their liability is limited to the amount of their investment in the company.
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Peter wants to buy office space for his new business. However, he is not sure if the current market is suitable for buying property. Hence, he consults his agent for advice.
Peter's agent will help him understand the current market conditions and advise him on the best way to purchase office space. The agent will research the area, research prices and evaluate the quality of currently available office space.
They will also provide information on any risks or disadvantages associated with buying in the current market. They will provide Peter with a realistic assessment of the property's value and the potential return on his investment. The agent will then work with Peter to develop a strategy to help him find the most cost-effective and affordable office space for his new business.
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If the reserve ratio is 100-percent, then a new deposit of $1000 into a bank account O a. eventually increases the money supply by $1000. O b. leaves the size of the money supply unchanged. O c. eventually decreases the size of the money supply by $1000, O d. eventually increases the money supply by $2000.
If the reserve ratio is 100-percent, then a new deposit of $1000 into a bank account leaves the size of the money supply unchanged.
The amount of reservable liabilities that commercial banks must keep onto rather than lend out or invest is known as the reserve ratio. The central bank of the nation, in this case the Federal Reserve in the United States, sets this criterion.
The total amount of money and other liquid assets in an economy on the measurement date is known as the money supply. Both cash and deposits that can be accessed virtually as easily as cash are roughly included in the money supply.
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Assume the cost object is units of production a. What is the total direct manufacturing cost incurred to make 21,500 units? b. What is the total indirect manufacturing cost incurred to make 21,500 units?
Labor and direct materials make up the majority of a manufacturing company's direct costs.
What do you meant by total direct and total indirect?
Direct costs include things like labor, materials, commissions, piece-rate pay, and manufacturing supplies. Salaries for production supervisors, expenses related to quality assurance, insurance, and depreciation are a few examples of indirect costs. Without exception, all direct expenses are included in the Total Direct Cost (TDC) base.
TDC Example: If a sponsor needs a 10% TDC indirect cost rate and the direct expenses total $100,000, the indirect costs would be computed as $100,000 x 0.10 = $10,000.
The total quantity of indirect costs is the outcome. In this case, indirect costs are equivalent to $80,000 minus $69,565 or $10,435. The term "indirect costs" refers to expenses that are frequently referred to as "overhead costs," such as rent and utility costs, as well as "general and administrative expenses," which include costs such as officers' salaries, expenses for the accounting department, and expenses for the personnel department.
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Frederick is looking for clerical job opportunities. He wants to make sure he has the right qualifications. What are the minimum requirements for the job roles that Frederick is applying for
Fredrick wants to work as a clerk for an organisation. He must therefore have a foundational understanding of the duties associated with a clerical position.
In order to help fredrick students choose the best option for them and urge them to pursue their chosen career specialities in the next bachelor's, master's, or higher levels of education, practically all disciplines are covered in basic organisation detail in a high school diploma. Therefore, having a high school diploma is a plus when applying for clerical jobs. Additionally, a clerical job duties requires documenting skills because it requires a lot of documentation work. If one wishes to begin a career at the clerical level, they must possess these talents.
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How many types of scarcity are there?
There are two types of scarcity: absolute scarcity and relative scarcity.
Absolute scarcity refers to a situation where there is a finite amount of a resource and it cannot be replenished. This type of scarcity is most often seen in natural resources, such as oil or water.
Relative scarcity, on the other hand, refers to a situation where there is an insufficient amount of a resource relative to the demand for it, and the resource can be replenished.
This type of scarcity is most often seen with economic resources, such as money or labor. In both cases, the scarcity of the resource can lead to higher prices and decreased availability.
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What are the 5 most common budgeting methods?
Companies typically utilize one of the following five types of budgets: incremental, activity-based, value proposition, rolling, and zero-based. Each of these four budgeting techniques has benefits and drawbacks.
You may wish to determine where your money is going before choosing a new or alternative budgeting strategy so that you are aware of the areas that require your attention.
According to Megan Luke, chief operating officer at PNC Bank, "a simple approach to get things going is to gather all of your receipts for a month or two for every $1 you spend." Sort the receipts for food, petrol, entertainment, and other expenses into piles at the end of the month. This will offer you a clear view of your current expenditure and present possibilities to find ways to modify and possibly save.
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Which of the following is not a recommended way to manage innovation and change?
1. poor timing
2. Prevent failure at all cost.
3. recognize problems and opportunities.
4. Innovation can be systematized.
Prevent failure at all cost is not a recommended way to manage innovation and change
What does Prevent Failure means?
Prevent Failure is a term used to describe efforts to prevent something from failing. It is a proactive approach that focuses on identifying potential risks and taking steps to mitigate or eliminate those risks. This can include making changes to processes, implementing new systems or procedures, training staff, and creating management systems to monitor and prevent issues before they become problems. It is an important practice for any organization that wants to be successful.
What does Managing Inovation mean?
Managing Inovation is the process of managing and directing the flow of innovation and creativity within an organization. This includes the identification and implementation of new ideas and processes, as well as the use of data and analytics to understand the impact of innovation and how it can be used to improve business performance. It also involves the development of strategies to effectively and efficiently implement new ideas, processes, and products.
Therfore the correct option is 2. Prevent failure at all cost.
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In imperfectly competitive markets, increasing production will decrease the price of all units sold. This concept is known as the
All units sold will be less expensive if production is increased in markets with imperfect competition. Price effect is the name given to this idea.
What impact does imperfect competition have?The following are the outcomes of imperfectly competitive markets: (1) too little is produced; ( 2) the product is sold at a price that is too high; and (3) the economy suffers as a result of the dead weight loss. In a nutshell, the economy incurs losses as a result of resource misallocation caused by imperfect competition.
How do prices change as a result of skewed competition?A price that is higher than the marginal cost caused by imperfect competition can result in an inefficient use of resources. In a market with weak competition, businesses may spend a lot of money on advertising.
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Siobhan has a mortgage with a clause that prohibits her lender from suing her for unpaid amounts if foreclosure occurs. This is called a ______ mortgage.
Siobhan has a mortgage with a clause that prohibits her lender from suing her for unpaid amounts if foreclosure occurs. This is called a non-recourse mortgage.
A non-recourse mortgage is one in which the lender can't go after greater than the collateral offered for the mortgage. This sort of mortgage is useful for the borrower due to the fact the lender can not seize different assets to recoup their losses.
Non-recourse finance is a type of industrial lending that entitles the lender to repayment simplest from the earnings of the project the mortgage is an investment and now not from every other property of the borrower. Such loans are commonly secured with the aid of collateral.
Nonrecourse debt or a nonrecourse mortgage is a secured loan that is secured by means of a pledge of collateral, generally real belongings, but for which the borrower is not in my view in charge. A recourse debt holds the borrower individually dependable. All different debt is considered nonrecourse. In fashionable, recourse debt (loans) allows lenders to acquire what's owed for the debt even after they've taken collateral (home, credit playing cards).
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Glen has taken his team through the marketing research process for their company and crunched the data to find the correlations of customer and product relationships. He is now ready to present his findings to management? After his analysis, what next step will the management team take?
After the analysis, the next step to be taken by Glen would be to work on the discovered research and take actions for enhance growth.
A research wing in any organization plays a crucial role as it helps to rediscover new ideas and correlations and also the analysis of data on several fronts can help in engaging greater results as output. The data can be presented in the form of presentations with real time analysis. This quantitative research can help in identification of bigger roles which the marketing team can play in increasing their profits. Market research is a systematic process of collecting, analyzing and interpreting information on the real time scale.
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Interruptions in the supply of goods and services in a supply chain caused by an internal or external event that disrupts supply chain operations, causing potential reductions in service levels, product quality, and sales are referred to as:
Supply chain risks Any stoppage in the flow of a process involving any of the organizations involved in the manufacturing, sales, and distribution of a particular products or service is known as a supply chain disruption.
Maintaining product quality from beginning to end and ensuring that all resources used are of the highest caliber need a well-organized supply chain. A supply chain is a system for acquiring raw materials or component purchases, operations management (which ensures the production of high-quality goods quickly, with good flexibility, and at a low cost), logistics, and marketing channels so that the raw materials can be transformed into finished goods and delivered to the final consumer. Used goods can re-enter the supply chain at any point where there is recyclable residual value in complex supply chain systems. Linking value networks are supply chains. In a supply chain, suppliers are frequently ranked by tier.
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The ________ concept holds that consumers will favor goods and services that offer the most in quality, performance, and innovative features.
The Product concept holds that consumers will favor goods and services that offer the most in quality, performance, and innovative features.
A characterization of a good or service at the beginning of its lifecycle is called a product idea. It is created prior to the start of any in-depth design work and takes into account factors including market research, user experience, product features, cost, strategic fit, and company architecture. Market research, customer service experience, features of the product, product-market fit, cost, and other factors are taken into consideration when creating product concepts before any design or development work is done.
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Clark is a piece rate worker who earns $8.25 per completed unit. During a 40-hour workweek, Clark completed 57 units. What is Clark's hourly rate
When workers are paid by the unit produced (such as the number of t-shirts or bricks produced) rather than the amount of time spent on the job, this is known as piece rate pay.
In some professions or businesses where the job is repetitive in nature and where individuals have a great degree of control over the outcomes, piece rates are regularly employed. Examples include activities like picking tea, trimming fruit trees, sorting used books, making clothes, or driving a certain number of miles. Workers who work from home or in locations other than the employer's are usually compensated on a piece rate basis. Employees in developing nations that depend on piece rate earnings are frequently a vulnerable group of workers, with many of them participating in the informal sector. The majority are female. The textile, apparel, footwear, and leather sectors as well as international supply chains frequently use piece rate compensation.
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Which type of market is the one in which a person buys their favorite breakfast sandwich at a fast-food drive thru?
A) Product market
B) Factor market
C) Financial market
D) Closed market
The type of market is the one in which a person buys their favorite breakfast sandwich at a fast-food drive is Product market. Thus option A is correct.
What is Product Market?The product market is the marketplace where final goods or services are sold to businesses and the public sector in economics. It excludes trading in raw or other intermediate materials because it focuses on the sale of finished goods.
The product market is where the supply and demand for finished goods interact. Companies act as suppliers, offering their products to potential customers at prices determined by the dynamics of supply and demand.
Therefore, a person buys their favorite breakfast sandwich at a fast-food drive thru the Product market.
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When developing marketing plans, what should a firm consider about their competition? Multiple choice question. Their confidential new product plans The amount of time they have been in business Their growth trajectory Their likely reaction
The use and management of the enormous amount of new (and sensitive) data that smart, connected products generate, the redefining of relationships with traditional business partners like channels, and the role that companies should play as industry boundaries are expanded all present new strategic choices.
The term "internet of things" has emerged to describe the rising number of intelligent, connected items and to draw attention to the potential new opportunities they might provide. However, comprehending the phenomena or its ramifications is not really aided by this statement. The internet is only a means of information transmission, whether it involves people or objects. Smart, linked items are fundamentally different from other products because of the "things," not the internet. A new age of competitiveness is being ushered in by the enhanced capabilities of smart, connected gadgets as well as the data they provide. Companies must focus on the competitive revolution occurring rather than just the technology themselves. This essay will analyse the revolution in smart, connected products, along with a companion piece that will appear in HBR shortly.
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When planning an effective lead nurturing campaign, what is the first step that you should take as an inbound professional: Setting goals
Creating content
Selecting personas
Identifying the timeline
Measuring and improving.
Setting goals is the first step that an inbound professional should take when planning an effective lead nurturing campaign.
How do you begin a campaign for lead nurturing?Make an automated travel first. Making automated journeys is the simplest method to design your lead nurturing campaigns in Campaign Monitor. Simply select "Create a new travel" under "Automation" in the menu. You then use specific parts and decide on triggers to begin the journey.
What should be the first thing an advertiser thinks about when planning a campaign?The first thing an advertiser should consider when planning a campaign is the advertiser's goal. It implies that the advertiser's work should be clear. His goal should be clear so that he can devise a better strategy. Pricing, targeting options, and creative messaging are all part of this.
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Suppose a security with a risk-free cash flow of $150 in one year trades for $140 today. If there are no arbitrage opportunities, what is the current risk-free interest rate
With no arbitrage, the current risk-free interest rate is $ 7.14% and $ 1.0714% in one year.
The PV of the security's cash flow is ($150 in one year) ((1+r), where r is the one-year risk-free interest rate. If there are no arbitrage opportunities, this PV equals the security's price of $140 today. Therefore,
= $140 today = ($150 in one year) / (1+r) = ($150 in one year) / $140 today = (1+r) = $ 1.0714 in one year/ $ today, so = 7.14%
The risk-free rate of return, most commonly abbreviated as the "risk-free rate," is the rate of return on a fictitious investment with predetermined payments over a certain amount of time that is expected to fulfill all financial obligations. The risk-free rate may be acquired without taking any risks, hence any other investment that involves any risk needs to have a higher rate of return in order to entice investors to hold it. In reality, market participants frequently select the yield to maturity of a risk-free bond issued by a government of the same currency, whose default risks are so minimal as to be negligible, in order to deduce the risk-free interest rate in that currency.
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Farrah, a regional manager for an HVAC equipment retailer, received an e-mail from the CEO outlining the new goal of decreasing company costs over the next three years. This is an example of a strategic goal. (T/F)
True, the goal of decreasing company costs over the next three years outlined in the e-mail from the CEO to Farrah, a regional manager for an HVAC equipment retailer, is an example of a strategic goal.
Strategic goals are high-level objectives that align with an organization's overall mission and vision. They are meant to guide the organization's decision-making and resource allocation over a longer period of time. In this case, the goal of decreasing company costs is a strategic goal that aligns with the organization's overall mission of being profitable and sustainable in the long term.
Strategic goals typically cover a longer time frame than operational goals, which focus on day-to-day activities. They also involve the entire organization and its different departments, which makes sure that all the operations are working together to achieve the goal.
Overall, the goal of decreasing company costs outlined in the e-mail from the CEO is an example of a strategic goal, as it is a high-level objective that aligns with the organization's overall mission, covers a longer time frame, and involves the entire organization.
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