Describe what a demand curve is and explain how it helps marketers make decisions
What will be an ideal response?
The demand curve estimates consumer demand at different prices. A demand curve doesn't account for changes in the company's external environment, but it is a useful tool marketers can use to determine how much of a product customers will buy at different price points. This information can help marketers decide on the price position for their product.
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Travelocity would like to test if the average roundtrip airfare between New York and London is less than $1,400. A random sample of 30 flights between New York and London was selected and the airfare was recorded
Assume that the standard deviation for the population of airfares between these two cities is $230 and the true population mean for airfare is $1,330. Using ? = 0.10, beta equals ________.A) 0.1655 B) 0.2483 C) 0.2730 D) 0.3483
Business units (a) Define what is meant by each of the following: profit center, investment center, and cost center
Your answer should make clear the distinction between each of these types of centers. (b) Briefly describe the criteria used to evaluate each of the three types of centers listed in part a. What will be an ideal response?