1. what are taxonomic categories and how do consumers use them to structure knowledge in memory
2. what is a schema? identify strategies that marketers can use in order to increase :
- favorability
- uniqueness
- salience
Answers
1. Taxonomic categories are divisions or classifications of things based on their characteristics. These categories help consumers structure knowledge in memory by providing a mental framework for organizing and remembering information.
2. A schema is a mental framework or blueprint that helps individuals organize and interpret information.Marketers can use various strategies to increase the favorability, uniqueness, and salience of their product schemas
1. Taxonomic categories are divisions or classifications of things based on their characteristics. These categories help consumers structure knowledge in memory by providing a mental framework for organizing and remembering information. Consumers use taxonomic categories to compare and contrast products, identify patterns and relationships, and make decisions based on their needs and preferences. For example, a consumer might use taxonomic categories like "electronics" or "kitchen appliances" to group similar products together in their mind and recall information about them more easily.
2. A schema is a mental framework or blueprint that helps individuals organize and interpret information. Schemas are used to make sense of new experiences and information by comparing them to existing knowledge in memory.
Marketers can use various strategies to increase the favorability, uniqueness, and salience of their product schemas:
Favorability: Marketers can increase the favorability of a product schema by creating positive associations with the brand. This can be achieved through advertising, endorsements, or product placement, among other methods.
Uniqueness: Marketers can increase the uniqueness of a product schema by highlighting distinctive features or benefits that set it apart from competitors. This can be achieved through product design, packaging, or branding.
Salience: Marketers can increase the salience of a product schema by making it more memorable and easily accessible in memory. This can be achieved through repetition, visual cues, or other mnemonic devices.
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Related Questions
An individual has a comparative advantage in producing a good or service if the _____ cost of producing the good or service is _____ for that individual than for other people.
Answers
An individual has a comparative advantage in producing a good or service if the opportunity cost of producing the good or service is lower for that individual than for other people. What is Comparative Advantage? Comparative advantage is a concept that is used in economics.
When an individual, company, or nation has the comparative advantage in the production of a product, they can generate it at a lower opportunity cost than another entity. Opportunity Cost and Comparative Advantage Opportunity cost is the cost of choosing one thing over another. In economics, the concept of opportunity cost is significant in determining comparative advantage.
Opportunity cost can be measured as the cost of the next best option when deciding to choose between alternatives. A country, an individual, or a company has a comparative advantage if the opportunity cost of generating a good or service is less than other countries, individuals, or companies. Thus, when an individual has a comparative advantage, they have the capacity to generate a product at a lower cost than another entity.
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if the market price of bicycle frames is $500, and frame welders earn a wage of $50, how many welders will be hired?
Answers
Hiring will stop when the market value of bicycle frames is $500 and frame welders earn $50.
Market value, also known as OMV (Open Market Valuation), is the price at which an asset would trade in a competitive auction environment. Market value is sometimes used interchangeably with open market value, fair value, and fair market value, despite the fact that these terms have different definitions in different standards and differ in some instances. Market value is distinct from market price, which is "the price at which one can transact," but market value is "the genuine underlying value" according to theoretical standards. The notion is most typically used in inefficient markets or disequilibrium circumstances where current market prices do not reflect genuine underlying market worth.
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1. Make a list of 5 products that you have purchased recently. Label each item in your list with what category of product it is based on durability and consumer buying habits
Answers
This categories listed are based on the assumption that the products are intended for personal use rather than commercial use.
Any good or service you offer to satisfy a customer's need or desire is a product. There are both real and virtual ones. Durable things, such as automobiles, furniture, and computers, are examples of physical products. A product is also the thing that is being sold.It might take on a physical, virtual, or cyber form.
Every product has a cost associated with it, and each one has a price. The market, the quality, the marketing, and the group that is being targeted all affect the price that may be charged.nondurable products (such as food and drinks).
Here are five products that I recently purchased, along with their category based on durability and consumer buying habits:
With labels:
Apple iPhone 12 Pro - Electronics
Dole Bananas - Fresh produce
Seventh Generation Laundry Detergent - Household cleaning supplies
Chobani Greek Yogurt - Packaged food
Fresh Direct Grocery Delivery - Food and groceries
The categories listed are based on the assumption that the products are intended for personal use rather than commercial use.
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FILL THE BLANK.
an example of the efforts undertaken by business organizations in the united states to manage diversity is _____.
Answers
An example of the efforts undertaken by business organizations in the United States to manage diversity is implementing diversity training programs and initiatives.
Business organizations in the United States have recognized the importance of managing diversity within their workforce to foster inclusivity, and equality, and maximize the potential benefits that diverse perspectives and backgrounds can bring. One common example of their efforts is the implementation of diversity training programs and initiatives. Diversity training programs aim to educate employees about the value of diversity, promote awareness of biases and stereotypes, and provide tools for creating an inclusive work environment. These programs often include workshops, seminars, and interactive sessions that address topics such as unconscious bias, cultural competence, and respectful communication.
Additionally, businesses may establish diversity and inclusion committees or task forces to actively address diversity-related issues, establish policies and practices that promote equal opportunities, and ensure that hiring and promotion processes are fair and inclusive.
By implementing diversity training programs and initiatives, businesses demonstrate their commitment to embracing diversity and creating a workplace that values and respects individuals from different backgrounds, cultures, genders, and identities. These efforts contribute to fostering a more inclusive and productive work environment that harnesses the full potential of a diverse workforce.
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Retained Earnings of $100,000 represent a corporation's cumulative earnings ______ and is shown on the ______. Multiple choice question. declared; statement of retained earnings kept; balance sheet and statement of retained earnings in cash; balance sheet
Answers
Retained Earnings of $100,000 represent a corporation's cumulative earnings kept and is shown on the balance sheet.
The retained earnings simply mean the proportion of the cumulative profit of a company that is held or retained for the future.
Retained earnings are typically used to meet the future needs of the company. Therefore, the retained earnings of $100,000 represent a corporation's cumulative earnings kept and is shown on the balance sheet.
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______ Is a market in which a large number of suppliers compete with each other to satisfy the needs and wants of a large numbers of consumers at a competitive price.???
Answers
Answer : Monopolistic competition
Answer:
Monopolistic Competition
Explanation:
In a monopolistic competitive market, there are large numbers of sellers who do not sell identical products instead they sell differential products. They compete with each other at a competitive price. The products could be differentiated in many ways including quality, style, location and even brand name. Since they compete at a competitive price, if there is a substantial rise in the price of any of the products, the buyers could quickly shift from one product to another. The most crucial factor behind product differentiation is because of geographical factors. Under a monopolistic competitive market, the sellers do not have any influence over customer loyalty and limited control over the price.
How do increased prices serve as an incentive for businesses?
Answers
Answer:
see below
Explanation:
Price is the amount of money that a customer pays to acquire goods or consume services from a seller. The price has two significant elements:
the cost of making the goods or servicesThe suppliers desired profit.As per the law of supplies, higher profits is an opportunity for high profits. High price increases the profitability of goods and services. A high price has a bigger margin, meaning higher profits if the goods or services are sold. If prices increase, suppliers will be willing to supply more goods in the market with the expectation to make more profits. A decline in price is a warning that the business may make losses.
What health issue did Feiler face that led him to consider his family?
Answers
A real estate professional leased a building for 10 years at an annual rent of $48,000. She will receive a commission of 7.5% for the first five years, 5% for the next three years, and 3.5% for the final two years. What will her gross income be from this commission over the life of the lease
Answers
Her gross income from this commission over the life of the lease is $28,560.
Commission for the first five years
Commission=5×(48,000× .075)
Commission=5×3600
Commission=$18,000
Commission for the next three years
Commission=3×(48,000 ×.05)
Commission=3×2,400
Commission=$7,200
Commission for the final two years
Commission=2×(48,000 ×.035)
Commission=2×1,680
Commission=$3,360
Gross income commission:
Gross income commission=$18,000+$7,200+$3,360
Gross income commission=$28,560
Inconclusion her gross income from this commission over the life of the lease is $28,560.
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The rate at which a business increases revenue from sales is
Answers
Answer:
There are only four ways to increase revenue in your business: increase the number of consumers, increase the average transaction size, increase the frequency of transactions per client, and raise your rates.
Explanation:
one advantage market economies have over centrally-planned economies is that market economies is
Answers
Option d: One advantage market economy have over centrally planned economies is that market economies are more efficient.
There are four types of economies:
Traditional, command economy, free market, and mixed (combination of market economy and command economy).
A market economy, also called a free-market economy or free enterprise economy, is a system in which economic decisions, such as those related to the price of goods and services, are determined by supply and demand.
A command economy, on the other hand, uses/utilizes central planning by a central authority to make all economic decisions.
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Complete question:
One advantage market economies have over centrally-planned economies is that market economies
a.provide an equal distribution of goods and services to households.
b.establish a significant role for government in the allocation of resources.
c.solve the problem of scarcity.
d.are more efficient.
Which of the following will be accomplished by efficient allocations of the factors of production?
guaranteeing economic success
understanding whether a product will fail
fulfilling many needs and wants of society
replenishment of limited resources
Answers
Answer:C
Explanation: Just took the test:)
What will be accomplished by efficient allocations of the factors of production is fulfilling many needs and wants of society
What are factors of production?factors of production can be regarded as those factor that make production possible such as capital and land.
Therefore, fulfilling many needs and wants of society is one of beauty of production.
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The costs per equivalent unit of direct materials and conversion in the rolling department of oak ridge steel company are 180 and 62
Answers
Answer:
Equivalent units of direct materials= $180 per tons
Equivalent units of conversion =$62 per tons
Explanation:
Calculation to Determine the direct materials and conversion costs per equivalent unit.
Using this formula
Equivalent units of direct materials=Cost of direct materials transferred/Total equivalent units for direct materials
Let plug in the formula
Equivalent units of direct materials= $432,000/2,400
Equivalent units of direct materials= $180 per tons
Therefore the direct materials cost per equivalent unit will be $180 per tons.
Calculation for Equivalent units of conversion using this formula
Equivalent units of conversion=Conversion cost /Total equivalent units for Conversion
Let plug in the formula
Equivalent units of conversion=$144,150/2,325
Equivalent units of conversion= $62 per tons
Therefore the conversion cost per equivalent unit will be $62 per tons.
pros and cons of franchises??
Answers
Pro 2: Starting a franchise can make it easier to secure financing.
Con 1: Franchises can come with high start-up costs.
Con 2: You have less flexibility with a franchise.
Which of the following is the most profitable investment for a game shop earning 2 profit from every game sold
Answers
Answer: 3 profit
Explanation:
like industrial zones that are run by business people and similar professionals. more like science schools than like amusement parks. more like holy places and national monuments than like places of leisure and entertainment. like foreign countries that are out of bounds to everybody.
Answers
The description suggests a contrast between industrial zones focused on professional activities, science schools emphasizing education, and places of significance like holy sites and national monuments, as opposed to leisure and entertainment venues or restricted foreign territories.
The description highlights the characteristics of certain places and draws comparisons to different types of locations. It suggests that the mentioned places, such as industrial zones, science schools, holy places, national monuments, and foreign countries, share common attributes. These places are characterized by a focus on professional activities, education, significance, and exclusivity.
Industrial zones are typically dedicated to business and professional activities, providing an environment conducive to productivity and economic growth. Science schools emphasize education and the pursuit of knowledge, fostering intellectual development and innovation. Holy places and national monuments hold cultural, historical, or religious significance, often serving as places of reverence and reflection. The comparison to foreign countries that are out of bounds to everybody suggests a sense of exclusivity or restricted access, possibly due to political, legal, or security reasons.
Overall, the description underscores the distinction between these types of places and others that prioritize leisure, entertainment, or unrestricted access, emphasizing their unique characteristics and purposes.
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Which one of the businesses below wou valuation? O An art gallery O A jewelry store O A car dealership O A grocery store SAVE AND CONTINUE Which one of the businesses below would most likely use the FIFO method of inventory valuation? An art gallery O A jewelry store O A car dealership O A grocery store SAVE AND CONTINUE
Answers
Among the given options, the business that would most likely use the FIFO (First-In, First-Out) method of inventory valuation is:
O A grocery store
FIFO is a common inventory valuation method used by businesses that deal with perishable or rapidly changing inventory, such as grocery stores. In the FIFO method, it is assumed that the first items purchased or produced are the first ones sold. Since grocery stores often deal with perishable goods that have specific expiration dates, it is essential to sell the oldest inventory first to minimize losses from spoilage or obsolescence. Therefore, a grocery store would typically utilize the FIFO method to track and value its inventory.
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Comprehension Que
1. What was the occupation of Husni before he relocated to the city?
Answers
Answer:
Egyptian military and political leader
In photography where ur light source comes from makes a big difference because it will invariably create certain effects on ur subject
Answers
Answer:
Yes, when doing photography you want to make sure the light is in a certain place. The light can effect everything. You also want to make sure that the light shining on the camera, but somewhere on the thing u are taking a photo of.
Explanation:
Which strategy best helps a famous brand company reach consumers?
selling at trade shows
sending out mailings in small towns
advertising nationally
marketing selectively
Answers
Answer:
C.) advertising nationally
Explanation:
This is the correct answer. The person above may only have a 3-star rating, but they are correct.
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Internal information provides an understanding of factors outside of the organization
True False
Answers
Answer:
false
Explanation:
Internal information is the information developed from activities that occur within the organization.
Definition
Calculate the nominal annual cost of trade credit under each of the following terms. Assume a 365-day year. Do not round intermediate calculations. Round your answers to two decimal places. 1/15, net 20. % 2/10, net 55. % 3/10, net 45. % 2/10, net 45. % 2/15, net 35. %
Answers
The nominal annual cost of trade credit for each is:
18.62%28.22%16.55%37.24%Calculations and ParametersNominal cost of trade Credit = Discount percentage/100- discount percentage * 365/Day Credit 0/s-Discounts period .
1/15, net 20
Here,
Discount percentage = 1 Discount period = 20 day Day credit OKS = 15 days.Nominal cost of trade credit = 1/100 - 1 x 365/20- 15 = 78.73%.
1. 2/10 net 50.
Nominal cost of trade credit = 2/100-2 * 365/50-10= 18.62%
2. 3 /10 net 50.
Nominal cost of trade credit = 3/100-3 * 365/50-10 = 28.22%
3. 2/ 10 net 55
Nominal cost of trade credit = 2/100-2 * 365/55-10 = 16.55%
4. 2/ 15 net 35 =
Nominal cost of trade credit = 2/100-2 * 365/35-15= 37.24%
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A company database needs to store information about employees (identified by IDno, with salary and phone as details), departments (identified by dno, with dname and budget as details), and children of employees (with name and age as details). Employees work in departments; each department is managed by an employee; a child must be identified uniquely by name when the parent (who is an employee; assume that only one parent works for the company) is known. We are not interested in information about a child once the parent leaves the company. Draw an ER model that captures this information. The answer should also show clear entities, attributes, relationships, and possible cardinality
Answers
The ER model includes three entities: Employee (IDno, Salary, Phone), Department (dno, Dname, Budget), and Child (Name, Age). The relationships are: Employees work in departments (WorksIn, 1:1), each department is managed by an employee (Manages, 1:1), and an employee can have multiple children (HasChild, 1:N).
The ER model captures the information about employees, departments, and children in a concise manner. The Employee entity includes attributes such as IDno (employee identifier), Salary, and Phone. The Department entity includes attributes like dno (department identifier), Dname (department name), and Budget. The Child entity includes attributes Name and Age.
The relationships in the model are represented as follows:
1. Employees work in departments: This relationship (WorksIn) indicates that one employee works in one department (1:1 cardinality).
2. Each department is managed by an employee: This relationship (Manages) signifies that one employee manages one department (1:1 cardinality).
3. An employee can have multiple children: This relationship (HasChild) denotes that one employee can have multiple children (1:N cardinality).
The ER model diagram would visually represent these entities, attributes, relationships, and their respective cardinalities. It helps to understand the structure and connections between the entities in the database design.
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What is stock turnover?
A. How long customers have own the products they've purchased
B. How quickly inventory sells
C. How much it costs to keep inventory
D. How the stock market affects inventory
Answers
Answer:
d.how the stock market affects inventory
Explanation:
a stock turnover is the rate at which a company's goods are sold and replaced. I hope that helped <3
stock movement Effects of the stock market on inventory Thus option (D) is correct.
What is the stock price?A share price is the price of a single share of a company's salable equity shares. In layman's terms, the stock price is the largest amount of money someone is willing to pay for the stock or the lowest amount for which it can be purchased.
Stock market Analysts in economics and financial theory utilize random walk techniques to model the behavior of asset prices, particularly share prices on stock exchanges. This technique is founded on the assumption that investors operate rationally and without bias, and that they evaluate the value of an asset at any given time based on future expectations.
Therefore, Thus option (D) is correct.
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when smart electric condensed all its parts factories into one large location, the company increased research and development and customer service, and decreased its sales force. how would this practice help the company to become a low-cost producer?
Answers
As smart electric condensed all its parts factories into one large location, the company increased research and development and customer service, and decreased its sales force, this practice would help the company smart electric condensed all its parts factories into one large location, the company increased research and development and customer service, and decreased its sales force by constructing efficient large-scale facilities.
Smart Electric condensed saw the potential for not only a cost savings, but also an improvement in their operations when they decided to consolidate all their parts factories into one large location.
This move enabled them to increase their research and development, as well as their customer service, while simultaneously decreasing their sales force.
This was accomplished by constructing efficient large-scale facilities that allowed for the production of all their parts under one roof. The cost savings and increased efficiency enabled them to better serve their customers and make better use of their resources.
As a result, Smart Electric has been able to provide its customers with quality products and services, while reducing its overhead costs.
The consolidation of their parts factories into one large location has been instrumental in allowing Smart Electric to succeed.
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Which of the suggestions do NOT rely on the support of a parent or guardian?
Answers
Answer:
- Chipping away at student loans or getting a secured credit card.
Explanation:
The suggestion that does not depend on the support of a parent or guardian would be 'chipping away at the student loans or getting a secured credit card' as it lays the responsibility on the shoulders of the student which does not require parents' backing. The supportive parents always tend to offer every possible opportunity to their child upto the extent they can afford to provide a better experience and future to their kid.
Credit card is the facility to expend without having the actual money. Chipping the student loans or getting credit card is the correct option.
What is a credit card?It is the facilities provided by the bank or companies which allow people to make expenditure without having actual money in their account, but is required to be paid after month.
The suggestion not depended on support of parents is to break the student loans or get a secured credit card, as the following act will make a student responsible for their actions. Although a supportive parent, always try to offer the best opportunities or facilities they could afford for their children.
The above explanations aptly describes the statements.
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under what conditions must a distinction be made between money to be received today and money to be received in the future?multiple choice
Answers
Option D is the right response. Due to the time value of money principle, money received today will always be more than money received in the future.
What does money mean in terms of time when making decisions?A fundamental idea in finance is the time value of money, which states that money received today is worth more than the same amount received tomorrow. This is accurate since you can invest the money you have now and get a return.
Why is the concept of time value of money crucial in finance, Mcq?Because people choose future consumption over present consumption, money has time value. Money now offers greater security than money tomorrow. Money is worth more than money today.
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Question;
what conditions must a distinction be made between money to be received today and money to be received in the future?
Multiple Choice
A period of recession
When idle money can earn a positive return
When there is no risk of nonpayment in the future
When current interest rates are different from expected future rates
1. Why is it so hard to become an accountant in the Philippines when there is a high demand for it?
Answers
Accountancy has reportedly been one of the most sought-after courses since, according to what I know. Accountants are in higher demand as additional demand business types start to appear in the developing Philippine economy. The difficulty of staying current with tax legislation is one that accountants continuously deal with.
In the Philippines, all tax and auditing services should be informed of the developments and make effective use of technology. Utilize technology demand to file taxes online. With subjects in math, finance, business, and Accountants, the course load is fairly heavy. Even if some ideas can be difficult, you can succeed if you study the subject and take the time to make sure you comprehend accounting principles in their entirety.
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What role does product/service management play in marketing?.
Answers
Answer:
El Marketing de Servicios es un conjunto de tácticas que tienen como objetivo agregarle valor al servicio ofrecido, con el fin de persuadir al cliente para que opte por una determinada empresa. A través de una estrategia de Marketing de Servicios, es posible garantizar la máxima satisfacción de consumidores y usuarios
Explanation:
Answer:
✒️Answer:Product/service management is a marketing function that involves obtaining, developing, maintaining, and improving a product or service mix in response to market opportunities.
Explanation:
#CarryOnLearning\(watch.some.anime\)
can someone help me? got till the end of the day :/
Answers
Answer:
A
Explanation: