What is the bundle of value offered in a marketing exchange, for the purpose of satisfying a need or want, referred to as?
A) products
B) marketing mix
C) goods
D) value captured
E) promotion
Answer: A
Explanation: For the purposes of studying marketing, it is helpful to define product as the bundle of value offered for the purpose of satisfying a want or a need in a marketing exchange. In this expanded definition, both tangible goods and intangible services are considered products.
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WahoosWin Corporation estimates the life of its building to be 30 years. It originally cost $300,000 and was given a residual value of $30,000. Depreciation expense per year should be:
a. $9,000 b. $90,000 c. $10,000 d. $100,000 e. $300,000
Calculate the price elasticity if a business maintains its current gross profit with a 5 percent price reduction and a 20 percent volume gain
A) -15 B) -4 C) 4 D) 15 E) 25