What is the main advantage of small business that helps retain effective employees who could earn more at a large firm?

Answers

Answer 1

7 competitive advantages for small enterprises are listed below:

Taking decisions more quickly and focusing on niche marketsPersonalize Customer Service, Empower Your TeamLeaders in Access Directly Give Your Local Community PriorityFaster innovationMake a StatementConcentrate on SpecializationQuickly and effectively pivot

accelerated decision-making - Being tiny has its benefits for competition, therefore it's not always a bad thing. One is the quick turnaround for making decisions or for developing new products. You could have fewer personnel, but you can innovate processes more quickly as a result. Being able to modify and adapt to market needs and being an agile firm are key to keeping a business afloat and expanding. When there is a lot of bureaucracy involved or you have to take into account various voices, it is more difficult to make such kinds of decisions.

Encourage and Grow Your Team - For business operations, a strong internal team is essential. Smaller teams make it possible to provide more individualized attention, giving them an advantage over organizations with hundreds or thousands of people. Make sure that workers have a say in the direction of the business in order to capitalize on this. Make sure management is approachable so that employees' issues and queries are completely addressed. Make time to talk about and keep track of each team member's professional growth goals as well. A small business may foster a culture where each employee feels appreciated by putting these deliberate actions into place.

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Related Questions

The primary goal of the marketing research process is to provide decision makers with knowledge that will help them solve problems or pursue opportunities.
a. true
b. false

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The statement that "the primary goal of the marketing research process is to provide decision-makers with knowledge for problem-solving is:

A. True

What is marketing research?

Marketing research refers to the series of inquiries that entrepreneurs must make to understand their customers and the approaches that will make them disposed to purchase their products. There are about five key steps to follow in this research process.

When all findings have been made, the last step of this marketing research process will be geared at helping the researcher evaluate the outcomes of the results and apply necessary controls at the appropriate ends.

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As an example of a trade-off decision faced by an operations manager, more options for customization of a laptop will lead to:___

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An operations manager may have to choose between increasing the customization possibilities for laptops and increasing costs for the business, which is an example of a trade-off decision.

One quality, quantity, or characteristic of a set or design may be lowered or lost in return for gains in other areas, which would be known as a trade-off. In basic English, a tradeoff happens when something improves but something else must worsen.

Simple physics is one of the numerous sources of limitations. For instance, only a certain amount of objects may fit in a space, thus a container that is currently full must be cleared of some items until it can store any more. Vessels may, however, transport a number of little goods.

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Under the temporal method, which accounts are remeasured using current exchange rates?

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Under the temporal method,  accounts that are remeasured using current exchange rates are Cash, receivables, and most liabilities.

Temporal Method: The temporal approach, sometimes referred to as the historical method, transforms a foreign subsidiary's currency into the parent company's currency. When the local currency of the subsidiary is different from the currency of the parent firm, this method of translating a foreign currency is applied. This is known as Temporal Method.

Current Exchange Rates: The value of one country's currency in comparison to another, this is known as Current Exchange Rates. When nations employ gold or another accepted standard, and each currency is worth a particular amount of the metal or other standard, the exchange rate is "fixed."

Under the temporal method,  accounts that are remeasured using current exchange rates are Cash, receivables, and most liabilities.

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What is not a characteristic of good marketing?
a) benefiting the firm
b) benefiting customers
c) benefiting the competition
d) benefiting society

Answers

Option c)  benefiting the competition is not a characteristic of good marketing.

What is marketing?

The term "marketing" refers to the actions a company takes to promote the purchase or sale of a good or service. Marketing activities like sales and advertising are included in the delivery of goods to customers or other businesses. Affiliates will occasionally handle advertising for a company.

Employees in a company's marketing and promotion divisions aim to attract the attention of key target audiences through advertising. Promotions are aimed at specific demographics and may include celebrity endorsements, memorable slogans or taglines, eye-catching packaging or graphic designs, and general media exposure.

Product, price, place, and promotion make up the marketing "Four Ps." The Four Ps together make up the crucial mixture a business needs to market a good or service. In the 1950s, Neil Borden popularized the Four Ps and the marketing mix concepts.

An incredibly wide range of tactics makes up the marketing discipline. The strategies listed below might work better for some businesses than others as the industry is constantly changing.

Thus, benefiting the competition is a foul trait of marketing.

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In human resource management, _____ usually refers to teaching operational or technical employees how to do the job for which they were hired.

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In HRM, training typically relates to imparting knowledge on operational or technical staff members regarding how to carry out their assigned duties. Most businesses offer managers and staff consistent opportunities for training and development.

The group of organizational operations known as human resource management (HRM) are focused on luring, fostering, and retaining a productive staff.

Short-term training is frequently required to solve a specific technical deficiency because it is created for certain occupations and abilities. On the other hand, development is focused on the individual and how they might acquire the abilities they need to advance in their work.

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A stock broker charges a 1 percent fee to purchase stock for clients. if a household uses the broker to buy 100 shares of a stock at $50/share, then the transaction contributes _____ spending to gdp.

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A stock broker charge 1 percent fee to purchase stock for clients. If a household uses the broker to buy 100 shares of a stock at $50/share, then the transaction contributes $50 of consumption spending to GDP.

A stock broker buys and sells the stocks and other securities for retail and institutional clients, through a stock exchange or through over the counter, in return for a commission or a fee.

So suppose if a stock broker charges 1 percent fee to purchase stock for his clients, so than if a household uses the broker to buy 100 shares of a stock at $50/share, then around $50 of consumption spending is contributed to GDP through that transaction.

Hence, stock brokers are generally compensated on commission.

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The probabilistic estimate of the price at which a property will be sold is its:____.

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The investment value of a property is the probabilistic prediction of the selling price.

What exactly do you mean when you say "probabilistic estimate"?

A calculation based on a range of values with corresponding probabilities of occurrence for each of the components, or, at the very least, for each of the components that are genuinely certain. The probabilistic cost estimation methods aim to estimate the project cost variability based on one or more characteristics while concentrating on the risks and uncertainties associated with the project. A deterministic estimate is one that only considers a single number value when discussing risk. It doesn't take into account the parameter's possible value ranges or chance of occurrence. The maximum entropy principle (MEP), the saddlepoint approximation, the Johnson system, and the Pearson system are the four generally used methods for estimating probabilities.

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A demand curve displaying the relationship between the price of cars and the quantity demanded of cars should have a slope that is?

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The slope of the demand curve displaying the relationship between the price of cars and the quantity demanded will be negative.

Generally, the demand curve slopes downwards and goes below 0 as it shows that as the price increases the demand for the product will fall. As the prices decrease the demand for the product will increase. This shows that there is an inverse relationship between the price of the cars and the quantity demand of the cars.

A demand curve is a graph that helps to show the relationship between the quantity demand of a particular product and the price of that product. The demand curve can be used to show the relationship for a particular individual. The demand curve can also be used to show the demand for the entire industry.

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If william earns a 10 percent return and kate earns a 7 percent return on investments with the same risk, the additional 3 percent return on william's investment is a(n) _____.

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If william earns a 10 percent return and kate earns a 7 percent return on investments with the same risk, the additional 3 percent return on william's investment is a the sum of the long-term growth rate of real economic output.

The Value of Economic Production

Monitoring economic output is crucial to figuring out whether a country's economy is producing more or less. It is a crucial measure of whether a country's economy is expanding or lagging behind expectations. Economic output can be compared across time periods to determine how well a nation is doing.

Comparing the outputs of various countries can be done using economic output. To compete in the sphere of international economics, this is possible, and evaluating output is a technique to determine whether a country needs to develop ways to create more or pace out its production. Nations can work together more effectively by measuring each other's production.

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Asset j has an expected return of 15%. The expected market return is 14% and the risk-free rate is 4%. What is Asset j's beta?

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Asset J has an expected return of 15%. The expected market return is 14% and the risk-free rate is 4%. The Asset J's Beta is 1.1

According to the question,

To calculate Asset J's beta

Formula to use :

Ke =  Rf + [Betax (Rm - Rf)]15 = 4 + Beta ( 14-  4 )Beta = ( 15 - 4 ) / 10 = 1.1

Portfolio Expected Return

E (Rw) = 0.114 = 0.037 + MRP(1.40)

MRP = 0.077 / 1.40 = 0.055

The CAPM equation

E (Rp) = 0.037 + 0.055Bp

1. 3.7%, 0

2. (0.1140.25) + (0.0370.75) = 0.05625 or 5.63%,

1.40(0.25) = 0.35

3. (0.1140.50) + (0.0370.50) = 0.0755 or 7.55%,

1.40 (0.50) = 0.7

4. (0.1140.75)+(0.0370.25) = 0.09475 or 9.48%,

1.40 (0.75) = 1.05

5. 0.114 or 11.4%, 1.40

6. (0.1141.25)+(0.037-0.25) = 0.13325 or 13.33%,1.40(1.25) = 1.75

7. (0.1141.50)+(0.037-0.50) = 0.1525 or 15.25%,

1.40(1.5) = 1.1

Therefore Asset J's Beta = ( 15 - 4 ) / 10 = 1.1

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The textbook suggests that consumers are best able to choose from among the wide variety of otc products by?

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According to the textbook, knowing which trustworthy manufacturers there are will help buyers make the best decision among the large range of otc items.

A manufacturer is a company or person that creates items, according to the definition. An illustration of a sneaker manufacturer is the business that creates a certain brand of sneakers.

Who is known as the manufacturer?

A manufacturer is a person or business that creates finished products from raw materials using a variety of tools, equipment, and procedures, and then sells the products to consumers, wholesalers, for the production of more complex products, distributors, merchants, or other producers.

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Trina's bakery had 600 customers last year and this year, 400 of those customers still patronize the bakery. what is the retention rate at trina's bakery?

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'Trina's bakery had 600 customers last year and this year, 400 of those customers still patronize the bakery. its retention rate is 66%.

A customer is an individual or business that purchases goods or services from another business. Customers are important because they drive sales. Without them, companies cannot continue to exist.

The definition of customer is a person who purchases products or services at a store, restaurant, or other retail establishment. An example of a customer is someone who goes to an electronics store and buys a television.

These are variables like Opportunity, Profit Desired, User Status, User Rate, Loyalty Rate, Readiness, and Consumer Attitude. These include loyalty, cost, purchase frequency, purchase quantity, timing, purchase decisions, and where customers purchase products.

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What is a marketing phenomenon that facilitates and encourages people to pass along a marketing message?

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Viral marketing is a marketing phenomenon that facilitates and encourages people to pass along a marketing message. A "phenomenon that facilitates and motivates people to voluntarily spread a commercial message" is known as viral marketing.

Marketing: What Is It?

Marketing is the term used to describe the activities a business engages in to encourage the purchase or sale of a good or service. Delivering goods to customers or other businesses includes marketing activities like advertising and sales. Affiliates will occasionally carry out marketing for a business.

Employees in a company's marketing and promotion divisions aim to attract the attention of key target populations through advertising. Promotions are aimed at certain demographics and may include celebrity endorsements, memorable slogans or taglines, eye-catching packaging or graphic designs, and general media exposure.

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When viewing applicants and employees as investors, the goal is to ________. group of answer choices

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The objective is to provide applicants and workers with a return on their individual contributions to the company when seeing them as investors.

An investor is any individual or other entity such as a business or mutual fund who invests money with the hope of making a profit. Investors depend on a variety of financial instruments to generate a rate of return and achieve crucial financial goals like saving for retirement, paying for a child's school, or just collecting more wealth over time. Stocks, bonds, commodities, mutual funds, exchange-traded funds (ETFs), options, futures, foreign currency, gold, silver, retirement plans, and real estate are just a few examples of the many investment vehicles available to achieve objectives.

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The __________ strategy is when users are told the importance of using hard to guess passwords and provided with guidelines for selecting strong passwords.

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The user education strategy is when users are told the importance of using hard to guess passwords and provided with guidelines for selecting strong passwords.

The user education is important because it helps one to create strong password (s) is essential to prevent others from breaking into your account.

Thereby preventing cases of hacking into someone's computer and also data theft. Its the primary stage of safety and security of your account.

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Dave and nadine have decided that they want to become property investors. what is most likely their main motivation for investing?

Answers

Dave and Nadine's main motivation for investing in property is income appreciation.

What is a Investment?

Investment is the amount that is spent to start an earning, the amount is invested in the business or the investment. The investment in return provides profit to the investor.

The investments made by individuals are also beneficial for the economy of the country, the investment of cash enables the economy a boost while the opposite situation is not ideal for any country.

In the scenario provided, Dave and Nadine have decided that they want to become property investors, this is a type of investment and this investment in property would let them earn the appreciation of land value which is in fact the increase in income and this may also result in a rental income.

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A convertible bond has a conversion price of $40 and is currently selling in the market at $950. the conversion ratio is:__________

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Based on the conversion price and the current selling price, the conversion ratio of the convertible bond is $25

What is the conversion ratio?

The conversion ratio of a bond can be found as:

= Par value of bond / Conversion price

The par value of a bond is often $1,000 so the conversion ratio is:

= 1,000 / Conversion price

Solving gives:

= 1,000 / 40

= $25

In conclusion, the conversion ratio is $25.

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Persuasive communications and accurate product distribution are techniques used by firms to ______ market segments.

Answers

Persuasive communications and accurate product distribution are techniques used by firms to reach market segments.

Answer: It is reach.

What shows how goods, services, and money move in an economy in order to
better organize all the moving parts in order to see the big picture of an
economic situation?
Circular Flow of Economic Activity
O Supply Chart
O Cost Benefit Analysis
Gross Domestic Product

Answers

The model that shows how goods, services, and money move in an economy in order to better organize all the moving parts is the Circular Flow of Economic Activity.

What is the Circular Flow of Economic Activity?

This is a model that shows how goods and services as well as money, moves in the economy.

It shows how Businesses are able to get factors of production such as money, from households and then use this to produce goods and services.

They then sell those goods and services to households who use money that they gain from being hired by the businesses to buy those products.

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Prior to being recorded on the income statement, manufacturers' product costs flow through ______. multiple select question.
a. cost of goods sold
b. finished goods
c. work in process
d. raw materials

Answers

A manufacturers' product costs flow through raw materials, work in process (or work in progress), and finished goods prior to being recorded on the income statement. So, yes, the answers are B, C, and/or D. Cost of Goods Sold is not included.

While work in process, also known as WIP, refers to the products being manufactured, raw materials are the components that go into the finished product. The finished goods, however, are the manufacturer's final products.

Costs of goods are passed through inventory accounts until they are sold, at which point they are compared to sales on the income statement.

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A _____ is conducted by marketing researchers to provide background information on other organizations that may have faced similar problems.

Answers

Marketing researchers perform a review of the literature to provide context for other firms that could have encountered related issues.

A marketing researcher is what?

Analysis of data from marketing reports and recommendation-making based on that analysis are the duties of a marketing researcher, also known as a marketing research analyst. Their suggestions assist the marketing staff in project planning and helping to keep the company's consumer base constant.

Numerous marketing researchers also contribute to the creation and execution of marketing content strategies and data analysis of the business, its goods or services, and client purchasing patterns. Being knowledgeable about current marketing trends in one's business and remaining current with new marketing technologies are essential components of every marketing researcher's job.

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The conflict-handling style in which a person neglects their own concerns and allows the concerns of another to prevail is known as:________

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The conflict-handling style in which a person neglects their own concerns and allows the concerns of another to prevail is known as accommodating.

Recognizing that there are four fundamental interpersonal conflict communication styles—assertive, aggressive, passive, and passive aggressive—is the first step in developing these skills.

Finding a middle ground or renouncing some of your issues while committed to those of others is the definition of the compromising style.  The aim of this somewhat cooperative, moderately forceful style is to strike a balance.

Competing is aggressive; accommodating is passive and cooperative. There is a certain amount of self-sacrifice involved when someone is accommodating; they put other people's needs ahead of their own.

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Vanessa grant is responsible for controlling expenses, but is not responsible for generating revenues. vanessa grant is a manager of a(n)?

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Vanessa Grant is responsible for controlling expenses, but is not responsible for generating revenues. Vanessa Grant is a manager of a(n):

Cost Center

What do you mean cost center?

A cost center is basically a department or function under an organization that do not directly increases profit but still costs the organization money to operate. Cost centers only provide to a company's profitability indirectly, unlike a profit center, which gives to profitability directly through its actions.

What is an example of a cost center?

Instances of cost centers contains  the accounting, human resources, IT, maintenance, and research & development departments. A cost center can be assumed  at a smaller level than a department. It could contain  a particular job position, machine, or assembly line.

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Park co. is considering an investment that requires immediate payment of $27,000 and provides expected cash inflows of $9,000 annually for four years. what is the investment's payback period?

Answers

The investment's payback period is 3 years

Given here the, Immediate Initial Investment is $27,000 and expected Annual Cash Inflow is $9,000 and the cash inflows are constant for couple of years.

Now, we calculate Payback period by the formula

Pay back period = Initial Investment / Annual Cash Inflow

On putting the values we get Payback period = $27,000 / $9,000

Payback period = 3 years

Thus, the calculated investment's payback period is 3 years.

A equipment, facility, or other investment has created enough net revenue to cover its investment expenditures when it reaches its payback period. The payback period is a metric used to evaluate, if any, the short- and long-term advantages of the suggested energy solutions. Logically, energy systems with quicker payback times are more advantageous from an economic standpoint than those with slower payback times.

The net amount that enters and leaves your organisation over the course of a time period is known as cash flow. Typically, this time frame is a month, quarter, or year. Operating operations, financing activities, and investment activities are the three main sources of cash flows.

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Why would a profit-seeking firm need to tailor its decisions about the quantity of labor inputs that it purchases?

Answers

The amount of labor inputs that a profit-seeking company chooses to use must be tailored to achieve the maximum amount of output at the lowest possible average cost.

By dividing the total cost (TC) by the entire output, one can determine the cost of production per unit, or average cost (Q). By "per unit cost of production," we mean that the average cost is determined by taking into account all fixed and variable expenses. As a result, it is also known as Per Unit Total Cost.

Short-term and long-term average costs are two different types of average costs. Given that the fixed costs are equal to zero and the variable costs remain constant, the short-run average cost fluctuates with the production of items.

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How much variation in production volume can be explained by the number of factory workers?

Answers

The variation of approximately 57.56 percent in production volume can be explained by the number of factory workers.

What is production volume?

The production volume variance counts the units produced while taking into account the overhead. It is the product of the budgeted overhead rate multiplied by the difference between the actual number of units produced during a period and the number of units that should have been generated according to the budget.

The R2 value is a measure of how much of a variance in output volume can be attributed to the workforce. R2 is worth 57.56%.

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Who initially collaborates with the project manager on the lessons learned document?

Answers

The people who initially collaborates with the project manager on the lessons learned document are the project team members.

Who is a project manager?

An expert in the subject of project management is a project manager. Regardless of the industry, project managers are responsible for the planning, acquisition, and execution of any activity with a specified scope, defined start, and defined conclusion.

Before the issue escalates to higher authorities, project managers serve as the initial point of contact for any concerns or conflicts occurring among the heads of several divisions inside an organization. A project manager is in charge of overseeing a project.

The findings of surveys and team member input gathered throughout the course of a project's lifecycle make up a lessons learned document. Establishing a procedure for collecting feedback at significant points in the project, then document it and use it to produce thorough reports is illustrated in the document.

It should be noted that the team members also collaborate in this situation.

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The client is diagnosed with hyperlipidemia and prescribed lovastatin. which is the most common adverse effects of lovastatin?

Answers

After receiving a lovastatin prescription, the client is diagnosed with hyperlipidemia. The most frequent side effects of lovastatin include headache and flatulence.

Low-density lipoprotein, or LDL, and high-density lipoprotein, or HDL, levels in the blood are decreased, HDL levels are raised, and triglycerides are decreased when lovastatin is used with a healthy diet.

With diabetes, coronary heart disease, or other risk factors, adults are prescribed lovastatin to reduce their risk of stroke, heart attack, and other heart issues.

Lovastatin can result in muscular tissue disintegration, which can result in kidney failure. People who are elderly, have kidney illness, or have hypothyroidism (underactive thyroid) that is not well-controlled are more likely to have this.

Use effective birth control to avoid pregnancy; do not use if you are pregnant; stop taking this medication and notify your doctor right away if you get pregnant.

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A company purchases a building by signing a $200,000 10% interest bearing note due at the end of five years. at what amount should the building be recorded?

Answers

The amount the building should be recorded is the present value of the amount payable in 5 years which is $124,184.26

What is the present value of future payment?

The present value of the payment expected in 5 years is determined as using the present value formula of a single cash flow in respect of the building:

PV=FV/(1+r)^N

FV=year 5 payment=$200,000

r=interest rate=discount rate=10%

N=number of years before payment is due=5

PV=$200,000/(1+10%)^5

PV=$124,184.26

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Because it can impact the success of the firm's marketing strategy, marketing professionals continually scan and analyze a firm's external environment in order to detect and respond to _______.

Answers

Marketing professionals constantly scan and analyze a firm's external environment to identify threats and opportunities the firm faces and to respond to them. This is important because it can affect the effectiveness of the firm's marketing strategy.

A marketing strategy is a company's overarching plan for connecting with potential customers and persuading them to purchase its products or services. A marketing plan should incorporate the company's value proposition, core brand messages, information on the demographics of the target market, and other crucial elements. An extensive discussion of the four Ps of marketing—product, pricing, place, and promotion is found in a marketing strategy. A well-defined marketing strategy should center on the firm's value proposition, which tells customers what the company stands for, how it operates, and why it deserves their business.

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