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2 years ago

The diagnostic role of marketing research includes gathering and presenting factual statements.a. trueb. false

Business

2 answers:

Maslowich2 years ago

6 0

Answer:

A) true

Explanation:

Every type of research must be based on true facts and they must be properly presented. Even if you are carrying out surveys, you decide what to look for based on something real and concrete.

Marketing research involves planning, collecting and analyzing relevant information that can be useful for making marketing decisions. Marketing research can be used to predict how sales will go if some type of action is taken, but it must always rely on factual statements, e.g. approximate market size, prices of competing products, etc.

Kipish [7]2 years ago

4 0

Answer:

False

Explanation:

The diagnostic role of marketing research includes explaining the data and information gathered. The diagnostic role of marketing research team helps in discovering the interrelation between the variables of data and information gathered to draw a meaningful conclusions. So it is incorrect to say that diagnostic function includes the gathering and presenting of factual data that is a reliable resource. In fact it is diagnosis of interrelations among the data extracted to draw informed decisions. Hence the statement is incorrect.

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In addition, your MARGIN PER UNIT must cover another set of important but potentially large costs. To investigate these addition

babymother [125]

Effect of Contribution Margin on the other costs is given below

Explanation:

1.Contribution margin per unit is the net amount that each additional unit sold contributes towards a company's fixed costs and profit. It equals the difference between the product's sales price and variable cost per unit.It represents the incremental money generated for each product/unit sold after deducting the variable portion of the firm's costs.Also known as dollar contribution per unit, the measure indicates how a particular product contributes to the overall profit of the company. It provides one way to show the profit potential of a particular product offered by a company and shows the portion of sales that helps to cover the company's fixed costs. Any remaining revenue left after covering fixed costs is the profit generated.

2.The Formula for Contribution Margin Is

The contribution margin is computed as the difference between the sale price of a product and the variable costs associated with its production and sales process.

Contribution Margin=Sales Revenue - Variable Costs

3.The contribution margin is the foundation for break-even analysis used in the overall cost and sales price planning for products. The contribution margin helps to separate out the fixed cost and profit components coming from product sales and can be used to determine the selling price range of a product, the profit levels that can be expected from the sales, and structure sales commissions paid to sales team members, distributors or commission agents.

4,The contribution margin represents the portion of a product's sales revenue that isn't used up by variable costs, and so contributes to covering the company's fixed costs.

The concept of contribution margin is one of the fundamental keys in break-even analysis.

Low contribution margins are present in labor-intensive companies with few fixed expenses, while capital-intensive, industrial companies have higher fixed costs and thus, higher contribution margins

3 0

2 years ago

1. How has an understanding of consumer behavior helped Coppertone grow in the United States and around the globe? 2. Describe t

True [87]

Answer: The answers are provided below

Explanation:

1. The understanding of consumer behavior which has helped Coppertone grow in the United States and around the world are:

• Its understanding of consumer behavior was along with changing behaviour of consumers.

• Its understanding was along with consumer's changing needs.

• Providing innovative solutions that are in accordance with consumer preferences.

Note that at the beginning, Coppertone started as a tanning product, but later developed nee products when the consumers preferences changed from tanning to skin protection.

2. . The Five stage purchase decision process for a Coppertone customer are:

a. Problem recognition - This is the stage of understanding the problem.

b. Search for information. It is the stage of seeking solution to the problem

c. Comparision of alternatives - This is the stage where the comparative analysis is done. This stage is influenced by the product, price, availability etc.

d. Decision of purchasing - This is the stage of decision making that is based on the comparisons made.

e. Post-purchase feedback - This is the stage whereby the consumer will evaluate the product performance. This stage is vital to retaining existing consumers.

3. The factors that can influence the Coppertone consumer purchase decision process are:

• Psychological: It is the intention of consumers to protect their skin from the sun while going out thereby maintaining their good look.

• Sociological : It is in human behaviour to replicate the things that are being done by other people in the society.

• Situational Factor: This is a case whereby consumers are left with no other alternatives than purchasing a particular product brand to meet their need.

4. The marketing activities Coppertone utilized to help it grow in the marketplace are:

• Advertisment: Coppertone advertisment strategy really worked through its use of the advertisement campaign for “the Coppertone Girl” and also their famous tagline “Tan, Don’t Burn.” This helped spar the product’s popularity.

• Use of social media: They also engage with their customers on social media nd other websites.

5. The challenges that would be faced by Coppertone in the future are:

• There will be an unbalanced demand and supply since the requirement of the product is seasonal.

• Selective usage of the product by the customer can hampers the sale.

• There may be the need for more innovative products in order to meet customer needs.

The recommendation related to each challenges are:

• Awareness should be created among the customers about their self health and looks, in order for them to shift away from seasonal usage.

• New products should be launched aggressively. This is because customers are trendy nowadays and also appealing marketing techniques should be used.

6 0

2 years ago

Explain how workplace safety is guaranteed by the roles of the government, the employer, and the employee

GuDViN [60]

Explanation:

Workplace safety is the responsibility of the employer to provide a safe place to work for the employees. According to Occupational Safety and Health administration it is necessary to follow certain job safety standards by the employer. The employer has to give safety awareness to the employees. Employees can utilize the safety empowerment and report to management if there are any safety issues.

The government's responsibility is to set standards for the business enterprises to maintain their workplace safety. The government collects fines if anything is beyond the safety regulations or improper standards of organisations.

7 0

2 years ago

Read 2 more answers

Rosa, a human resource professional, is redesigning several jobs at the factory where she works. She recognizes that most of the

Korvikt [17]

There are three ways in which a manager can redesign an employee's job: job enrichment, job enlargement and job rotation.

Explanation:

There are three ways a manager can redesign an employee's job:

job enrichment,
job enlargement
job rotation.

Job redesign is an technique using which job responsibilities, tasks are reviewed, and are re-allocated among the employees, to improve output. Redesigning jobs can lead to improvements in both productivity and in job satisfaction. of the employees

For example: Samantha is , a customer service representative at a large call center. She performs the same task of attending phone calls on a daily basis .This redundancy of task will lead to the reduction in the productivity of Samantha. To increase her productivity the HR plans to redesign her job,the HR might increase or decrease the number of calls she takes each day OR THEY might plan to give her training so that she can be moved to a more specialized group, such as tech support or sales, or the HR might change her role, such as to a supervisory or training position.

This change in the job profile(Job Redesign) of Samantha will lead to an increase in the productivity and motivation.

3 0

2 years ago

The following two errors were made in the physical inventory counts: 1. 2012 ending inventory was overstated by $33,000. 2. 2013

timofeeve [1]

Answer:

2013: $490,000 2012: $561,000

Question:

Errors in inventory count the following information was taken from the record of Spencer Enterprises

2013 2012

Beginning Inventory $63,000 $83,000

Cost of goods purchased $548,000 $508,000

Cost of goods available for sale $611,000 $591,000

Ending inventory $93,000 $63,000

Cost of goods sold $518,000 $528,000

The following two errors were made in the physical inventory counts:

1. 2012 ending inventory was overstated by $33,000

2. 2013 ending inventory was understated by $28,000.

Compute the correct cost of goods sold for both 2012 and 2013.

Explanation:

Computation of cost of goods sold for the year 2016 and 2015

Particulars 2013 2012

Beginning inventory $63,000 $83,000

Cost of goods purchased $548,000 $508,000

Cost of goods available for sale $611,000 $591,000

Ending inventory (corrected) $121,000 $30,000

Cost of goods sold (corrected) $490,000 $561,000.

note:

In 2013 new ending inventory = $93,000 + $28,000 = $121,000

In 2012 new ending inventory = $63,000 - $33,000 = $30,000

Beginning inventory + Cost of goods purchased = Cost of goods available for sale

Cost of goods available for sale - Ending inventory = Cost of goods sold

3 0

2 years ago