Describe the steps in market segmentation, targeting and positioning
What will be an ideal response?
• Identify bases for segmenting the market
• Develop profiles of resulting segments
• Develop measures of segment attractiveness
• Select the target market(s)
• Develop the positioning for each target market
• Develop the marketing mix for each target market
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Young Manufacturing uses a process costing system and manufactures its product in three departments. Which of the following is not a way in which Young can use the cost per unit of each process?
A) Young can look for ways to cut the costs when actual process costs are more than planned process costs. B) Young needs to set the selling price to cover the costs of making the product and provide a profit. C) Young can only use the cost per unit of each process if all units are fully completed at the end of the accounting period. D) Young needs to know the ending balances in the following accounts: Work-In-Process Inventory, Finished Goods Inventory, and Cost of Goods Sold.
An insured has fabricated a claim that would appear to be legitimate. What kind of hazard would this act represent?
A. Physical hazard B. Moral hazard C. Morale hazard D. It is a peril, not a hazard