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1. discuss the concept of market segmentation and discuss how it relates to consumers and businesses.
2. give examples of how each product listed can be classified as either a consumer and/or business product.
3. discuss the differences between the business and consumer product markets
Step by step
Solved in 2 steps
- 1. Explain the decisions taken for an individual product.1. List 10 new market demand that people need in their lifestyle.1. Demonstrate an understanding of the coordinate system by using it to outline the relationship between economic variables. 2. What is marketing? 3. Explain the concepts of value chain and supply chain?
- A value curve shows what type of information for a product concept? a. The value of the product over time b. The degree to which various needs are fulfilled with the product conceptc. The dollar value for each user need that is part of the product concept d. None of these options is correctII. Give an example of a product based on Consumer or household Goods Classification PRODUCTS CONVENIENCE GOODS SHOPPING GOODS SPECIALTY GOODS UNSOUGHT GOODSStore Name: Amount of the Brand and product name Serving Size nutrient per serving 1. A product with >3g fiber per serving Fiber 2. A product uses stevia as the sweetener. Sugar 3. A product fortified with DHA or ARA fatty acids. (Excluding supplements) 4. A cookie/cracker made without hydrogenated fat. 5. A personal frozen dinner with 500 kcal or and < 500mg sodium. 6. A whole-grain cereal with < 10g sugar per serving. 7. A product that provides a minimum of 20% DRI of Calcium per serving. 8. A beverage with no artificial sweetener and <25g sugar per serving. 9. A product that provides a minimum of 10% DRI of iron per serving. 10. An interesting food label that you did not expect DHA/ARA Trans Fat Sodium Sugar Calcium Sugar Iron Explain why Discuss what you learned from the trip and how this experience impacts you. (100-150 words).
- Price Panel (a) Panel (b) Z D₁ Quantity Quantity Panel (c) Panel (d) XX Quantity Quantity Figure 3 a. Refer to Figure 3. Assume that the graphs in this figure represent the demand and supply curves for women's clothing. Which panel best describes what happens in this market when the wages of seamstresses rise? b. Refer to Figure 3. Assume that the graphs in this figure represent the demand and supply curves for almonds. Which panel best describes what happens in this market when there is an increase in the productivity of almond harvesters? c. Refer to Figure 3. Assume that the graphs in this figure represent the demand and supply curves for Fruitopia, a soft drink. Which panel describes what happens in the market for Fruitopia when the price of Snapple, a substitute product, decreases? d. Refer to Figure 3. Assume that the graphs in this figure represent the demand and supply curves for potatoes and that steak and potatoes are complements. What panel describes what happens in this…Plot the supply curve from the supply schedule information provided. Price Quantity supply 1 0 2 3 3 4 4 5 5 6 (a) What can you explain from the graph? (b) Can you identify any determinants? (c) What happens if price changes? (d) What happens if other determinants change? Question 2 Plot the demand curve from the demand schedule information provided. Price Quantity demanded 1 9 2 6 3 4 4 3 5 2 (a) What can you explain from the graph? (b) Can you identify any determinants? (c) What happens if price changes? (d) What else do you think will happen? (e) What happens if other determinants change?How would you characterize the demand for the following products and why?• Steak• Milk• Life Saving Drug or Illegal, Addictive Drugs• Durable Goods
- Question: Explain the concept of supply and demand and how they interact to determine prices and quantities in a market.Please Dont use AI tool.PRICE QUANTITY(QS) 1 0 2 3 3 4 4 5 5 6 Plot the supply curve from the supply schedule information provided.. (a) What can you explain from the graph? (b) Can you identify any determinants? (c) What happens if price changes? (d) What happens if other determinants change?2. The relationship between price and demand per month for a consumer product is p = 3500 -1.1D5 where p is the price per unit in dollars and D is the demand in units. The fixed cost is $300 per month and the variable cost is $4.00 per unit. What is the optimal number of units that should be produced and sold per month? a. b. What is the maximum profit per month?
