Product classification is an important process of grouping products according to their use, market, pricing, and other important features. There are many ways in which products can be classified including consumer goods, industrial goods, luxury products, convenience products, and more.
The impact of product classification on industries is significant, as it can help companies better understand their target market, increase product visibility, and improve customer satisfaction. This leads to increased sales and revenue for the company. Product classification is also useful for companies that are looking to expand their product line, as it can help them identify gaps in the market that they can fill with their own products. The classification process can be particularly useful for industries that are experiencing rapid growth and change, as it can help companies stay ahead of the competition by identifying emerging trends and consumer preferences. Overall, product classification is an important tool for companies that want to stay competitive in their respective industries. By understanding the different ways in which products can be classified and their impact on the market, companies can develop effective marketing strategies, identify new opportunities for growth, and continue to innovate and improve their products and services. In conclusion, product classification plays a significant role in the success of a company in terms of revenue and profits. It helps companies identify their target market, increase product visibility, and improve customer satisfaction.
Learn more about consumer goods here:-
https://brainly.com/question/29215254
#SPJ11
Marlon intends to sell a piece of real estate he owns and contracts Nita, a real estate broker, to make the sale. In the contract, Marlon authorizes Nita to make the sale at or above a minimum price he wants and the date by which he wants the sale to be completed. The contract also stipulates that Marlon should not hire another broker to sell that piece of land till the expiry of the contract period. Nita finds a suitable buyer, makes the sale in time, and is paid by Marlon for her services.
Which of the following types of agency had Marlon and Nita entered into?
A) apparent agency
B) agency by ratification
C) implied agency
D) express agency
Answer:
D) express agency
Explanation:
From the question, we are informed about Marlon who intends to sell a piece of real estate he owns and contracts Nita, a real estate broker, to make the sale. In the contract, Marlon authorizes Nita to make the sale at or above a minimum price he wants and the date by which he wants the sale to be completed. The contract also stipulates that Marlon should not hire another broker to sell that piece of land till the expiry of the contract period. Nita finds a suitable buyer, makes the sale in time, and is paid by Marlon for her services. In this case, the types of agency had Marlon and Nita entered into is express agency. Express agency can be regarded as an agency that is been set up through an oral or a written agreement that exist between agent and principal. This gives indication of their express intent as regards this representational status. In this agency, the written or spoken words of the principal is used in authorizing the agent so that he can to act on behalf of the principal. An agency can be regarded as contract which could be express or implied.
The _____ risk has been encountered if a business has no answer to fight back against its competition.
financial
operational
compliance
strategic
When a business is unable to fight back against its competitors effectively, then a strategic risk has been encountered.
What is a strategic risk?This refers to the risk that the strategies of a business will not allow it to be competitive in the market.
When competitors come up with new processes and a business is unable to match them, this is therefore strategic risk.
Find out more on types of risk at https://brainly.com/question/21383821.
#SPJ2
In terms of corporate social responsibility, what should companies provide to suppliers?
As part of their CSR companies should provide suppliers Hassle-free acceptance of timely and complete deliveries.
Companies must be aware of their social responsibilities regarding supply chain practices for the environment, occupational health and safety, sustainable production, and human rights (including working conditions, child labor, and slavery). Companies need to manage potential risks as well as moral, legal, and financial concerns.
Corporate social responsibility (CSR) places a strong emphasis on how important it is for a company's whole supply chain to protect the environment and proactively enhance social welfare.
Government laws are the primary factors driving corporations to behave more socially responsibly.
Learn more about corporate social responsibility
https://brainly.com/question/13528806
#SPJ4
When globalization allows firm in development nations to manufacture their goods overseas in less developed countries, what typically happens? What does not?
Globalization is better for organization as it opens more opportunities, and helps in reduction of costs.
What is Globalization?Globalization is open trade that can take place around the world, the current technologies have enabled the organizations to have products from around the World.
Globalization can help organizations enjoy economies of scale. This will reduce the cost of goods sold expense for the organization and will ultimately effect positively on the profits.
While the globalization can encourage child labor, which is unethical and this is usually practiced to provide goods at a cheaper rate, as the labor cost is low for the child labor.
In this technological era the organizations have far better choices available to purchase thee goods from, the technology have enabled purchases from far countries although transit cost is a barrier, but if an organization manages the transit cost it can benefit lower cost of goods.
Learn more about Globalization at https://brainly.com/question/27154557
#SPJ1
Current profit-sharing plans pay cash awards to employees. Typically, how often are these awarded? A.On a semi-annual basis B.Every other yearC.On a quarterly or annual basisD.Every two or three yearsE.On a monthly basis
Profit-sharing plans typically pay cash awards to employees on a quarterly or annual basis, depending on the plan design and company policy. thus option C is the answer.
Profit-sharing plans are a type of impetus remuneration where organizations disperse a part of their benefits to qualified representatives. These plans are intended to propel representatives to pursue the organization's objectives and to compensate them for their commitments to the organization's prosperity. The recurrence of benefit-sharing installments can fluctuate contingent upon the arrangement plan and company strategy. Be that as it may, it is normal for managers to circulate benefits to qualified representatives on a quarterly or yearly premise.
This permits organizations to adjust their benefit-sharing installments to their monetary revealing periods and furnishes representatives with a customary and unsurprising wellspring of extra remuneration. A few organizations may likewise offer extra payment or different types of motivating force remuneration on a more regular premise, for example, month-to-month or semi-yearly.
Learn more about Profit-sharing:
https://brainly.com/question/31539861
#SPJ4
How important is money
Answer:
very important
Explanation:
money is a global income source for everyone. we all have different types but it is all still money. now say one country got rid of money and had people pay for stuff using other things. if china did that lots of different countries wouldn't be able to get stuff from there unless they had so much of that product they could just give it up.
state 3 typical land uses in rural-urban fringe
Answer:
The urban-rural fringe contains a mixture of land use. this includes residential areas, recreational facilities such as golf courses and farming. These areas tend to contain areas of better quality housing. Gardens and houses are larger due to lower land values and more open space.
Answer:
The urban-rural fringe contains a mixture of land use. this includes residential areas, recreational facilities such as golf courses and farming. These areas tend to contain areas of better quality housing. Gardens and houses are larger due to lower land values and more open space.
Explanation:
HOPE IT HELPS YOU .....
Which expectation of an employer involves seeing employees dress appropriately and arrive at work on time?
Employees are expected to be punctual and dress appropriately, thus maintaining_____.
Answer:
office decorum
Explanation:
The term workplace decorum, in plain terms, refers to the basic collection of such rules that aim to make the workplace atmosphere a nicer environment to settle in. The term "office decorum" may make it look dense as well as packed with several implications, but in actuality it is a collection of basic instructions that you'll have to examine in an organization to work around each other.
Answer:
Professional Decorum
Explanation:
edmentum
Discuss how an event’s ability to help us escape from everyday life and worries can be advantageous for marketers.
Answer:
An event's ability to give people a break from everyday life worries is a advantage for marketers because it makes their job easier. An event takes our mind off of things and it relieves their stress. This means that marketers don't need to focus on spreading info.
write any five different between of profession and professional education.
Answer:
Profession is a field or work of life,which you choose in order to become a professional of that field. For example, Teaching is a profession and am a teacher which makes me a professional of that
Create a fictitious product. Be creative — it can be anything you want, including clothing, a beverage, food, a gadget, a video game, or whatever.
Using the ten advertising strategies that are discussed in this chapter, think of a way you could use each strategy in a commercial to sell your product. Explain in detail how you would go about using each strategy to sell the product.
Answer:
A video game:
Explanation:
Target your audience: kids love videos games, and crazy colors. Grab your audiences attention
How does Ana spend her time in seedfolks?
Answer:
B
Explanation:
Got it right on edg 2020
There is no gain in mechanical advantage in a single fixed pulley . explain why the pulley is then used.
Explanation:
A single fixed pulley is used only to change the direction of the force applied that is with its use, the effort can be applied in a more conveninent direction. To raise a load directly upwards is difficult.
In the United States, total government purchases of goods and services make up about ____________________ percent of all the goods and services the country produces. a. 75 b. 32 c. 12 d. 50
The United States government is responsible for buying c. 12% of all goods and services.
Government spending in the United States comprises about 12% of the total GDP of the United States. The main things the government spends on are:
Defense Social welfare EducationBy buying up these things, the U.S. government is not only helping and protecting Americans, it is helping the economy as well because government spending allows for employment to grow.
In conclusion, 12% of goods and services produced in the U.S. are purchased by the U.S. government.
Find out more here https://brainly.com/question/10667970.
When a supply and demand model is used to analyze the market for labor,
a. demand is generally no longer downward sloping. b. the wage rate is used on the vertical axis as the market price. c. employment is used on the horizontal axis as the market quantity. d. both b and c.
The correct answer is d. both b and c. In a supply and demand model for the labor market, the wage rate is typically represented on the vertical axis as the market price, and employment or quantity of labor is represented on the horizontal axis as the market quantity.
The demand curve for labor shows the relationship between the wage rate and the quantity of labor demanded, and the supply curve for labor shows the relationship between the wage rate and the quantity of labor supplied. The intersection of the demand and supply curves determines the equilibrium wage rate and employment level in the labor market. The supply and demand model is a fundamental economic framework used to analyze the behavior and interaction of buyers and sellers in a market. It illustrates the relationship between the quantity of a good or service that producers are willing to sell (supply) and the quantity that consumers are willing to buy (demand) at various price levels. In the supply and demand model, the demand curve represents the quantity of a good or service that consumers are willing and able to buy at different prices, holding other factors constant. The demand curve is downward sloping, indicating that as the price of a good or service increases, the quantity demanded decreases, and vice versa.
Learn more about supply and demand model here:
https://brainly.com/question/30558092
#SPJ11
ROI stands for return on investment. It is the ratio of incremental profit from an activity over the cost of the activity times 100. If the incremental profit from your ad campaign is $5,000 and the cost of the campaign is $7,500, what is the ROI?
Answer:
66.7%
Explanation:
ROI stands for return on investment. It is the ratio of incremental profit from an activity over the cost of the activity times 100. If the incremental profit from your ad campaign is $5,000 and the cost of the campaign is $7,500, the ROI is 66%.
What is return on investment?The return on investment estimates the loss and gain generated on the amount of money that is invested. The return on investment) is the percentage to analyze an organization’s profit or the earnings of different investment.
The return on investments estimates what we will receive back as compared to what we have invested. It can be used by a company to estimate inventory investments, pricing policy, capital equipment investments, etc.
If the incremental profit from your ad campaign is $5,000 and the cost of the campaign is $7,500, the ROI is 66%.
Learn more about return on investments here:
https://brainly.com/question/13166641
#SPJ6
Why is technology important?Explain.
Your new health insurance has a $4000 deductible. What does that mean?
As part of its continuing product development strategy, CMR Group is considering launching a new retail drug called Pains No More! which has just passed the clinical trial stage. In the highly competitive retail drugs market, Pains No More! is expected to have a lifecycle of five years. The products will be available over-the-counter at pharmacies and will be targeted at the instant pain relief market. The following costs have been estimated over the life of the Pains No More! product: a) CMR Group has so far spent HK$50,000,000 in research developing instant pain relief products. Pains No More! is one of the products in the instant pain relief range. b) The estimated cost of setting up the facilities to produce Pains No More! is HK$30,000,000. Due to the new technology and materials used in the production process, all production machinery and systems need to be bought in. The new machinery and systems will be sold at the end of the project for HK$8,000,000. c) Capital allowances can be claimed on the whole of the cost of the new machinery and systems on a 25% reducing balance basis. d) An increase in fixed overheads due to the production of Pains No More! will amount to HK$10,000,000 each year and they will be paid in the year when the overheads incur. e) Marketing expenditure is budgeted for HK$2,000,000 each year for Years 1, 2, 3 and 4 and the fees will be paid in advance at the start of each year. No marketing budget is planned for Year 5 of the project. f) If Pains No More! is launched, CMR Group will need to carry out further research to assess the drug's effectiveness. The research is estimated to cost HK$3,000,000 each year in Years 1 and 2 of the project and will be paid in the year when the costs arise. g) The sales of Pains No More! are estimated to be 4,000,000 packs in Year 1 , rising by 10% per year in Years 2, 3 and 4 and finally declining to 2,000,000 packs in Year 5. h) The contribution of Pains No More! is estimated to be HK$6 per pack and this level of contribution is expected to be constant throughout the duration of the project. i) Tax is paid at 20% in the years that cashflows arise. j) CMR Group has a 10% cost of capital.
As part of its continuing product development strategy, CMR Group is considering launching a new retail drug called Pains No More! which has just passed the clinical trial stage.
The estimated cost of Pains No More! production machinery and systems is HK$30,000,000. Capital allowances can be claimed on the whole cost of the new machinery and systems on a 25% reducing balance basis. Marketing expenditure is budgeted for HK $2,000,000 each year for Years 1, 2, 3 and 4 and the fees will be paid in advance at the start of each year.
No marketing budget is planned for Year 5 of the project.The estimated sales of Pains No More! are 4,000,000 packs in Year 1, rising by 10% per year in Years 2, 3 and 4 and finally declining to 2,000,000 packs in Year 5.
To know more about development visit:
https://brainly.com/question/29659448
#SPJ11
jason is a sales associate who recently quit his job. in his exit interview, he stated that the reason he decided to leave was because sales training was promised as an integral part of marketing training, yet it never materialized. what happened?
Contrast error must have happened in this case.
What is Contrast error?Contrast Error is the idea that a candidate's performance evaluation may be affected by how well or poorly the candidates before them performed. Setting a standard that influences how the candidate being interviewed is perceived is erroneous. This type of inaccuracy, from the HR perspective, happens during interviews and performance reviews. In a performance appraisal or interview process, the questioner may make blunders brought on by those who have already been evaluated or interviewed. It fosters an anxious or relaxed contrasting of one participant with the other and tends to emphasize their differences.
To learn more about Contrast error, visit:
https://brainly.com/question/28963258
#SPJ4
Omar received $1,525 in gift when he graduated from high school. His pedants want him to save the money for collage, but Omar wants to buy new clothes, a watch, some CD’s, and a video game. He also needs new tires because the ones on his car are badly worn. Omar asked for your advice how should he spend his money
What does formula do In a spreadsheet program
Answer:
It uses data entered in certain cells to calculate values for other cells.
Explanation:
Because an insurance policy is a legal contract, it must conform to the state laws governing contracts which require all of the following elements EXCEPT?
All of the following, with the exception of conditions, are required.
Describe insurance.One party will agree to compensate another in the event of a certain loss, damage, or injury in exchange for a fee in order to safeguard oneself from financial loss. It is a risk management technique that is typically used to guard against the danger of a hypothetical loss that may or may not materialise.
An underwriter, insurer, firm, or carrier is a company that provides insurance. A person or organisation that obtains insurance is known as a policyholder, whereas a person or organisation that the policy protects is known as an insured.
Become familiar with
Insurance
Visit
https://brainly.com/question/989103
Automation, robots, and technology are replacing human workers, especially in manufacturing
jobs. Is this change good or bad for Americans and the economy? Justify your response.
Answer:
It should be good.
Explanation:
Answer:
Bad
Explanation:
Robots replacing human workers means that more people will be unemployed, and they won't be able to afford the goods the robots make, so the businesses will have more goods than they can sell, which is bad for the economy.
how to find out if a real estate rental is worth it (annualized rate of return and return on investment
The best way to determine if a real estate rental is worth it is to calculate the annualized rate of return and return on investment.
The annualized rate of return is calculated by taking the total expected income from the rental property (rental income minus operating expenses) divided by the total amount invested in the property. The return on investment (ROI) is calculated by taking the total expected income (rental income minus operating expenses) divided by the total amount invested in the property, expressed as a percentage. Both of these metrics will help you determine if the real estate rental is worth it in terms of financial return.In business, the motive of the return on investment (ROI) metric is to a degree, per length, quotes of return on money invested in a monetary entity so as to decide whether or not or not to undertake to fund. it is also used as a trademark to compare exclusive investments inside a portfolio. The funding with the most important ROI is commonly prioritized, despite the fact that the spread of ROI over the term of investment needs to additionally be taken into consideration. lately, the idea has additionally been applied to scientific investment agencies’ (e.g., national science foundation) investments in studies of open supply hardware and subsequent returns for direct digital replication.
ROI and associated metrics provide a snapshot of profitability, adjusted for the size of the investment assets tied up within the organization. ROI is often compared to anticipated (or required) fees of going back on cash invested. ROI is not time-adjusted (not like e.g. net present cost): most textbooks describe it with a "yr 0" investment and two to a few years' incomes.
To learn more about return-on-investment visit here:
brainly.com/question/28622693
#SPJ4
Should citizens participating in
criminal trials should have some requirements such as someone who
has a degree? Or someone who makes at least $20,000 per year? Why
or why not?
Citizens participating in criminal trials should not be required to have a degree or make a certain amount of money per year. This is because such requirements would create inequalities in the justice system and violate the principle of equal protection under the law that is enshrined in the US Constitution.
First, requiring citizens to have a degree in order to participate in criminal trials would discriminate against those who cannot afford higher education. This would create an unfair advantage for those who are more affluent and better-educated, and it would prevent many people from serving on juries or as witnesses.
Secondly, requiring citizens to make a certain amount of money per year would also create inequalities. Poorer citizens would be excluded from participating in criminal trials, which would violate their rights to equal protection under the law. Moreover, wealth is not necessarily a measure of a person's ability to serve as a juror or a witness. A person's income level does not necessarily correlate with their intelligence, education, or integrity
.In conclusion,citizens should not be required to have a degree or make a certain amount of money per year in order to participate in criminal trials. Doing so would violate the principle of equal protection under the law, create inequalities, and prevent many people from participating in the justice system.
Learn more about US Constitution.
https://brainly.com/question/32869853
#SPJ11
What is suggestive selling? Have you experienced an example of this? If so, describe the experience. Why do restaurants use suggestive selling?
Answer:
Explanation:
Suggestive selling is when someone recommends a better version of the product which you are purchasing or even recommends another totally different product that may suit your individual needs better. Almost everyone has experienced this in some capacity before. For example, any time you go to a fast-food chain they always ask if you would like to increase the size of your order (super-size) for a small additional fee. This is suggestive up-selling, and companies do this because they make additional profit from these items that they are suggesting.
Whether monetary policy is conventional or not, its goal when it comes to expanding the economy is to?
The goal of monetary policy, regardless of whether it is conventional or unconventional, is to expand the economy by managing interest rates, money supply, and inflation.
The goal of monetary policy, whether it is conventional or not, is to expand the economy. This can be achieved through various measures taken by the central bank, such as adjusting interest rates, controlling money supply, and managing inflation.
When the economy is facing a downturn or recession, the central bank typically uses expansionary monetary policy to stimulate economic growth. This involves lowering interest rates to encourage borrowing and spending, which can increase consumer and business spending, leading to increased investment and economic activity.
On the other hand, when the economy is overheating and experiencing high inflation, the central bank may implement contractionary monetary policy. This involves raising interest rates to reduce borrowing and spending, which can help cool down the economy and stabilize prices.
In conclusion, the goal of monetary policy, regardless of whether it is conventional or unconventional, is to expand the economy by managing interest rates, money supply, and inflation. By adjusting these factors, the central bank aims to promote economic growth and stability.
To know more about inflation visit:
https://brainly.com/question/33537821
#SPJ11
Assuming that the rational expectations hypothesis is not in effect, in the short run an expansionary monetary policy should?
In the short run, an expansionary monetary policy should stimulate economic growth and increase aggregate demand. It is important to note that the effectiveness and potential side effects of monetary policy may vary depending on the specific economic conditions and the transmission mechanisms within an economy.
The rational expectations hypothesis suggests that individuals form expectations about future economic variables based on all available information, including their understanding of the policy actions of the central bank. However, if we assume that the rational expectations hypothesis is not in effect, it implies that individuals' expectations may not be fully aligned with actual policy actions.
In this context, an expansionary monetary policy refers to actions taken by the central bank to increase the money supply and lower interest rates to stimulate economic activity. When such a policy is implemented in the short run, it can have several effects:
1. Increased borrowing and investment: Lower interest rates make borrowing cheaper, encouraging businesses and individuals to take loans to finance investments in capital goods, housing, or other productive activities. This increased investment can boost aggregate demand and stimulate economic growth.
2. Increased consumer spending: Lower interest rates can also reduce the cost of borrowing for consumers, making it more attractive to finance purchases of durable goods, such as cars or appliances. This can lead to increased consumer spending, which further contributes to aggregate demand.
3. Exchange rate effects: Expansionary monetary policy can also lead to a depreciation of the domestic currency. A lower exchange rate makes exports more competitive and imports relatively more expensive, which can stimulate exports and reduce imports. This improvement in net exports can also contribute to overall economic growth.
4. Potential inflationary pressures: One potential consequence of expansionary monetary policy is the risk of higher inflation. When the money supply increases, there is a greater supply of money in the economy, which can lead to increased spending and demand-pull inflationary pressures.
In the short run, assuming that the rational expectations hypothesis is not in effect, an expansionary monetary policy is expected to stimulate economic growth by increasing borrowing and investment, boosting consumer spending, potentially improving net exports, and possibly leading to inflationary pressures.
To know more about monetary, visit
https://brainly.com/question/2417605
#SPJ11
how do you gain market power in a given market?
Answer:
Product differentiation. If a company offers differentiated products and services or holds an extensive market share, it can, to some extent, dictate the pricing of its products and meet the inelastic demand from customers. A high degree of pricing power helps a company achieve market power.
Explanation:
hope it help