This task provides evidence for P6 In this assignment‚ i am going to describe and explain how marketing mix is useful for the new product being bought to the market and how i will be using it. Marketing mix is commonly known as the 4ps: product‚ price‚ place and promotion. These are controllable element and its importantly used when determined and adjusted until the right combination that serve the needs of the product consumers. The product i have chosen for my marketing mix is a phone that
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to the table in question 8. Suppose that the government establishes a price ceiling of $3.70 for wheat. What might prompt the government to establish this price ceiling? Explain carefully the main effects. Demonstrate your answer graphically. Next‚ suppose that the government establishes a price floor of $4.60 for wheat. What will be the main effects of this price floor? Demonstrate your answer graphically. Answer: At a price of $3.70‚ buyers will wish to purchase 80‚000 bushels‚ but sellers will
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disadvantages of price wars for different social groups By Nelson Rodriguez Price war is a situation in which rivals companies try to increase the number of consumers by attracting those who are buying from other companies through price lowering (This is common for commodity products that are so similar that price reduction may look as the only alternative to gain more customers).After each reduction there is a period of stability in which all afferents have the same price‚ but this equilibrium
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April Morning Cousin Simmons said to Adam” A boy went to bed and a man awakened.” How did Adam’s later experiences in the British conflict force him to act like a man? In what ways did he still act like a boy? In the battle of Lexington still acted like a boy. He feared the British. He ran away from them and was truly scared of the redcoats. Once he met Solomon Chandler‚ he realized that he wasn’t scared of the British anymore. This showed maturity in Adam. Adam came of age while traveling
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Price takers are defined as “Sellers who must take the market price in order to sell their product (Gwartney‚ Stroup‚ Sobel‚ Macpherson).” The price takers production is very small compared to the total market; this allows the price takers to sell their products at the market price. However‚ they can’t sell any of their products at a higher price relative to the market price. To better explain; the text states In a price-taker market‚ the firms all produce identical products (for example‚ wheat
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true. (Hint: What happens to price if there is a bumper crop? What is the price elasticity of demand for wheat? Is it inelastic or elastic? What happens to total revenue if there is an increase in supply?) If a product like corn or wheat has a bumper crop season‚ the selling price for the good would fall. This is because a bumper crop season indicates that the product had a bountiful crop growth and harvest; therefore‚ supply for the product would be excess. This means that the price for the product
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1. What are credit cards? Why do people use them? It’s a card someone can use to buy things with by borrowing money from a financial institution. 2. What is interest? How does interest affect credit card purchases? If you do not pay back the debt and the amount you spent on your credit card‚ the bank charges extra money on top of the original amount you have to pay which is called interest 3. What are the benefits of using a credit card? What are the drawbacks of using a credit card?
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| | |Strategic Pay Plans | | | |Lecture Outline | | | |Strategic Overview |In Brief: This chapter covers the basics of compensation.| | |Determining Pay Rates
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DESIGNING A PAY PLAN STRUCTURE ESTABLISHING A COMPENSATION PHILOSOPHY The first step in designing a pay structure is to establish/identify an organization’s compensation philosophy. During this phase of the design‚ it is determined where within the market the organization wants to position itself‚ i.e.‚ at market‚ as a leader in the market or lagging the market. Once this decision has been made‚ range penetration strategies must be determined. This phase of the plan design deals with how an
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What can affect attitude and behavior? Outline I. Family life. a. Divorce and attitude b. Family values c. Modeling adults II. Friendships. a. Friends and behavior. b. Peer pressure. c. Positive friendships. III. Surroundings. a. Home setting. b. Importance of education. c. Environment. IV. Economic Status. a. Career. b. Poverty vs. Middleclass. c. Improving your economic status. A person’s attitude and behavior can be
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