The main difference between a bank and a retail bank is the type of customer they serve.
A bank is a financial institution that offers a variety of services, such as loan and deposit products, investment services, and financial advice. A retail bank is a type of bank that specializes in consumer banking, typically offering services such as savings and checking accounts, loan and credit products, debit cards, and other consumer-focused products and services.
A bank typically serves both retail and commercial customers, whereas a retail bank focuses exclusively on consumer banking. This means that retail banks tend to offer products and services that are tailored to meet the needs of individual consumers.
Additionally, retail banks are typically smaller in size than banks and have fewer branches, making them more accessible to consumers. They also tend to have shorter wait times and more personalized customer service, which can be beneficial for those who need more time and attention when it comes to their banking needs.
Overall, a bank and a retail bank both provide financial services, but they serve different customer types and offer different products and services. Banks focus on commercial customers, while retail banks focus on consumer banking.
Learn more about the types of accounts offered by banks:
brainly.com/question/14368059
#SPJ4
if the economy is normal, taeana wear stock is expected to return 9.3 percent. if the economy falls into a recession, the stock's return is projected at a negative 6.3 percent. the probability of a normal economy is 74 percent. what is the variance of the returns on this stock?
The variance of the returns on this stock is 0.004682
(0.093.74) + (-0.063.26) = .05244
0.74(.093-0.05244)^2 + .26(-0.063-0.052)^2
0.004682
Variance is a way to gauge how risky an investment is. Risk is the likelihood that the actual return on investment, or its gain or loss over a certain period, will be higher or lower than anticipated. There is a chance that the investment will lose some, if not all, of its value.
By using variance statistics, investors can arrange their assets in a way that is consistent with how they want to balance risk and possible returns. Since volatility and risk are related, variance can show you what level of risk an investment entails.
Learn more about Variance here:
https://brainly.com/question/15736813
#SPJ4
all of these are costs of nonconformance except: a. training. b. rework and repair. c. scrap. d. liability judgments.
All of these are costs of nonconformance rework and repair, scrap, liability judgments except training.
What does liability mean?
A person's or organization's financial responsibility for any losses or damages caused to another person or organization is referred to as "liability" in law. It generally refers to the responsibility to pay for any damage caused by one's own actions or negligence.
What does Organization mean?
Organization is the process of structuring and coordinating the activities of people and resources in order to achieve a goal or set of goals. It entails establishing or creating distinct lines of authority, responsibilities, communication, and decision-making. Setting goals, planning, controlling resources, and assessing progress are all part of the process.
Therefore the option A. training is the correct option.
To know more about Liability,
https://brainly.com/question/14921529
#SPJ4
each time a payment is made on an installment note, the portion of the next payment associated with notes payable increases. this statement is :
The portion of the following payment that is related to notes payable rises each time an installment note payment is made. This assertion is accurate.
A payable installment note is what?The repayment of long-term debts owed is typically done in installments, also referred to as monthly payments of equal amounts. Each installment include both the interest payment and a portion of the principle. Over the duration of the loan, the principle is repaid annually rather than in full all at once.
How are payable notes with a down payment supposed to be recorded?If a cash down payment is made, it must be deducted from the face value before the notes are recorded as payables. As a result, you only record the outstanding principal balance. The down payment is placed in the cash account.
Learn more about notes payable: https://brainly.com/question/28434539
#SPJ4
if the demand is , a fall in price total revenue. question 18 options: a) elastic; decreases b) elastic; increases c) inelastic; increases d) inelastic; does not change
If demand is, the price will drop, increasing revenue. A possible alternative is elastic; declines.
Revenue will decrease when prices drop and demand is elastic.
If a corporation lowers its pricing, the percentage decrease in price will cause an even higher percentage rise in the number of units sold, increasing overall revenue. This is the case if demand is elastic at a certain price level.
Does inelastic demand result in a decline in overall revenue?
A price change that decreased resulted in reduced overall revenue if you were insignificant, which occurs when a significant percent change in price results but a smaller percent increase in supply required.
When prices drop, what occurs to claim?
The quantity requested of a good rises when the price of that good decreases.
To know more about revenue click here
brainly.com/question/29567732
#SPJ4
a company purchased a weaving machine for $231,450. the machine has a useful life of 8 years and a salvage value of $12,500. it is estimated that the machine could produce 755,000 bolts of woven fabric over its useful life. in the first year, 107,500 bolts were produced. in the second year, production increased to 111,500 units. using the units-of-production method, what is the amount of depreciation expense that should be recorded for the second year?
Calculation of depreciation fee per unit:
Depreciation per unit=Cost of machine−Residual value/Estimated manufacturing units
=$231,450−$12,500/755,000
=$0.29
Therefore, the depreciation per unit is calculated as 0.29 per unit.
Calculation of depreciation that will be in the second year:
Depreciation of second years=Production of 2nd years×depreciation per unit
=111,500×$0.29
=$ 32,335
Therefore, the depreciation of $32,335 that will be in the 2nd year.
Depreciation expense for a given year is calculated by dividing the original cost of the equipment less its salvage value, by the expected number of units the asset should produce given its useful life. Then, multiply that quotient by the number of units (U) used during the current year.
How do you calculate depreciation per unit?The devices of production depreciation method is: Depreciation Expense = Unit Production Rate x Units Produced. To locate the unit manufacturing rate, you should be aware of the original value of the asset, its predicted salvage value, and how many devices the asset is expected to produce over its lifetime.
Learn more about depreciation per unit here:
https://brainly.com/question/17255854#SPJ4an investor wants to purchase a twenty unit apartment complex. ten units rent for $300 per month, five for $325 and five for $350. vacancy and collection losses are estimated to be five percent of the potential gross income and operating expenses are expected to be $31,950. using a capitalization rate of ten percent, what should the investor pay for the property?
Answer:$42508.125
Explanation:
With respect to saving energy, what aspect of using two-sided printing was discussed in class as providing the most signifiant benefit?
The most significant benefit of using two-sided printing discussed in class was the reduction in paper usage. By printing on both sides of a sheet of paper, the amount of paper used can be halved, leading to a significant reduction in energy consumption.
The Benefits of Two-Sided Printing for Energy SavingsUsing two-sided printing can significantly reduce the amount of paper and energy used in printing. This is because only half the amount of paper is used, which reduces the amount of energy needed to produce and transport the paper, as well as the energy used to operate the printer. As a result, two-sided printing can lead to a significant reduction in energy consumption and a more sustainable printing process.
Learn more about Printing: https://brainly.com/question/25220385
#SPJ4
What are the role of political parties?
Role of political parties: Nominate candidates, organise their supporters, get involved in politics, serve as a "bonding agent" for their own elected officials, and keep an eye on the other party.
A political party's nomination procedure often determines the candidates for president. The general guidelines for the nomination process are established by the national committee of each party, therefore the procedures for choosing candidates can change between political parties.
Primaries and caucuses are the two primary state-level election formats that make up the nomination process. The rules that will apply to each state's specific election fight are decided by the party committee.
To learn more about candidate visit here:
https://brainly.com/question/29616235
#SPJ4
throughout the process of originating and selling mortgages, mortgage companies face a number of risks. therefore, it is important for a lending institution to evaluate the risks of mortgage loan default through a process commonly referred to as:
The process of evaluating the risks of mortgage loan default through a process commonly referred as loan underwriting.
Mortgage loan
In accounting, a secured loan that allows you to avail funds by providing an immovable asset, such as a house or commercial property, as collateral to the lender is known as mortgage loan
Given,
Here we need to identify the the process of originating and selling mortgages, mortgage companies face a number of risks. therefore, it is important for a lending institution to evaluate the risks of mortgage loan default through a process.
As per the definition of mortgage loan, here we have the process of originating and selling mortgages, mortgage companies face a number of risks.
So, here we know that in this one we have to use the loan underwriting in order to evaluate the risk.
To know more about Mortgage loan here.
https://brainly.com/question/29538161
#SPJ4
if the average product for six workers is fifteen and the marginal product of the seventh worker is eighteen, then marginal product is rising. marginal product is falling. average product is rising. average product is falling.
if the average product for six workers is fifteen and the marginal product of the seventh worker is eighteen, then the average product is rising.
Marginal product is the pace of progress of total product. Subsequently, average product can rise if the expansion to total product is more noteworthy than average product. This implies that the average product can rise assuming the marginal product is over the average product.
At the point when the marginal product is over the average product, the average product is rising. At the point when the marginal product is underneath the average product, the average product is falling.
If the marginal product of labor, MPL, is more noteworthy than the average product of labor, APL, then, at that point, each extra unit of labor is more productive than the average of the past units. Subsequently, by adding the last unit, the general average increments.
to know more about the marginal product of labor click here:
https://brainly.com/question/15694099
#SPJ4
a treasury bill has a face value of $65,000, an asked yield of 3.05%, and matures in 60 days. what is the price of this bill?
the price of this bill is $64669.58 in 60 days.
In this question the given things is:
a treasury bill has a face value of $65,000.
yield percentace = 3.05%
time = 60days
the price of this bill = a face value of a treasury- (a face value of a treasury *yield percentage * given time per year)
the price of this bill = $65,000 - $65,000*(3.05/100)*(60/360)
the price of this bill =$64669.58.
To know more about everyone, click the below link
https://brainly.com/question/29714892?referrer=searchResults
#SPJ4
under a u.s. treaty, what must a non-resident corporation create in the united states before it is subject to u.s. taxation on its business profits?
Under a U.S. treaty, a non-resident corporation create in the united states before it is subject to U.S. taxation on its business profits must have permanent establishment.
What do you mean by the non-resident corporation?The term "non-resident firm" refers to a business that, according to the Income Tax Act, is not a resident business. A corporation that is a resident of India is one that is either registered there or whose headquarters and management are there.
Non-effectively connected U.S.-source revenue, which a foreign corporation receives but is not directly related to a U.S. trade or business, is taxable on a gross basis. Therefore, no deductions are permitted. The tax rate on this income is a flat 30%.
If certain conditions are met, a corporation that was formed outside of Canada is considered to be a non-resident for the entirety of the tax year.
Therefore, under a U.S. treaty, a non-resident corporation create in the united states before it is subject to U.S. taxation on its business profits must have permanent establishment.
To know more about the non-resident corporation, visit:
https://brainly.com/question/20360819
#SPJ1
a mechanic took out a mortgage from a bank to buy the garage he and his employees work out of. how would this be listed on a balance sheet?
A mechanic took out a mortgage from a bank to buy the garage he and his employees work out of. This be listed on a balance sheet as a long-term liabilities.
An accounting document known as a balance sheet lists a company's assets, liabilities, and shareholder ownership. One of the three primary financial statements that are used to analyze a corporation is the balance sheet. It offers a picture of a company's financial situation as of the publishing date, including what it owns and owes.
A balance sheet provides you with a momentary glimpse of your company's financial situation. A balance sheet may assist business owners in assessing the financial health of their organization along with an income statement and a cash flow statement.
To know more about Balance sheet here
https://brainly.com/question/2707508
#SPJ4
revenues and other operating costs are expected to be constant over the project's 3-year life. what is the project's year 1 cash flow? equipment cost (depreciable basis) $65,000 straight-line depreciation rate 33.333% sales revenues, each year $60,000 operating costs (excl. deprec.) $25,000 tax rate 40.0%
The project's year 1 cash flow is $29,665.8 as per the given revenue and net income
Operating cash flow is the flow of cash generated from regular operating activities. Operating cash flow could be calculated using a variety of methods, the indirect method adds back non-cash expenses to net income.
We first compute the net income from year 1, which is:
net income = (revenue - cost - depreciation) *(1 - tax rate)
net income = (60,000 - 25,000 - 65,000*33.33%) * (1 - 40%)
net income = 8,001.3
To get operating cash flows, we need to add depreciation back to the net income, i.e.,
operating cash flow = 8,001.3 + 65,000 * 33.33% = 29,665.8
Learn more about cash flow:
https://brainly.com/question/28238360
#SPJ4
a firm has the least amount of control over external causes of supply-chain dynamics. external causes include
A firm has the least amount of control over external causes of supply-chain dynamics. External causes include expected changes in customer demand.
Now, According to the question:
What Is Supply Chain Management?
Supply chain management (SCM) is oversight and control of all the activities required for a company to convert raw materials into finished products that are then sold to end-users.
SCM provides centralized control for the planning, design, manufacturing, inventory, and distribution phases required to produce and sell a company's products.
A goal of supply chain management is to improve efficiency by coordinating the efforts of the various entities in the supply chain. This can result in a company achieving a competitive advantage over its rivals and enhancing the quality of the products it produces, both of which can lead to increased sales and revenue.
Learn more about Supply-chain at:
https://brainly.com/question/15582420
#SPJ4
if he uses the first come, first served priority rule to schedule these jobs, what will be the average completion time?
First Come, First Served (FCFS) is the simplest scheduling algorithm.
What is First Come, First Served:There is only one rule:
Let the initial process start when it is scheduled to and let it finish on its own. This scheduling technique is non-preemptive, which implies that only one process may be active at a time, regardless of how well it utilizes the system's resources, whether there is a waiting list for other processes, and regardless of the relative significance of those processes.
The algorithm is not commonly used because of these drawbacks, but it is included here as a benchmark against which to evaluate more straightforward techniques.
"Jobs are handled in the order in which they arrive at a machine or work center," according to the FCFS sequencing regulation.
Learn more about First Come, First Served:
brainly.com/question/1905493
#SPJ4
in recent years, the federal reserve has conducted policy by setting a target for the a. size of the money supply. b. federal funds rate. c. growth rate of the money supply. d. discount rate.
The federal reserve has conducted policy by setting a target for the federal funds rate. The appropriate response is option B.
What is federal funds rate?The federal funds rate is the term used to describe the interest rate which banks charge other banks when they lend them money on an overnight basis (usually, extra funds that they have on hand in their reserve balances).
The FOMC's target interest rate is known as the federal funds rate. This is the overnight borrowing and lending rate between commercial banks for their surplus reserves. Short-term interest rates on credit cards and consumer loans can be influenced by the federal funds rate.
To learn more about federal funds rate
https://brainly.com/question/1236717
#SPJ1
a bank receives a demand deposit of $1,000. the bank loans out $600 of this deposit and increases its excess reserves by $300. what is the legal reserve requirement?
10% is the legal reserve requirement.
law is a set of rules that are created and are enforceable with the aid of social or governmental institutions to alter behavior,[2] with its unique definition a matter of longstanding debate.[3][4][5] it's been variously described as a science[6][7] and because the art of justice.[8][9][10] country-enforced legal guidelines can be made by way of a group legislature or through a unmarried legislator, ensuing in statutes; by using the govt through decrees and regulations; or mounted by judges via precedent, usually in common law jurisdictions. private people can also create legally binding contracts, which include arbitration agreements that adopt opportunity ways of resolving disputes to conventional courtroom litigation.
Learn more about legal
https://brainly.com/question/820417
#SPJ4
what type of sales training has revolutionized the way training happens in many firms? on-the-job training one-on-one interaction online training simulated buying situations role-playing exercises
The Correct answer is C. Online training type of sales training has revolutionized the way training happens in many firms.
Online training shall we businesses and bosses train people competencies and understanding over the internet via a pc, telephone, or some other tool. it may involve: Asynchronous training including e-gaining knowledge of courses, films, and facilitated discussion forums, that humans can access once they want to.
because online courses offer students full management over their studies, and they could paint at their own tempo. pupils, on common, paintings faster and soak up extra records in online publications than they would in any other case. gaining knowledge of honesty from everywhere lets in you or your group pursue coursework while not having to shuttle to a bodily campus. whilst some online publications require learners to attend stay lectures, you could in any other case aspect your coursework into your already busy timetable and move at your personal tempo.
To learn more about Online training visit here:
brainly.com/question/26390354
#SPJ4
Complete Question:
What type of sales training has revolutionized the way training happens in many firms? (a) on-the-job training (b)one-on-one interaction (c)online training (d)role-playing exercises (e)simulated buying situations
what is a strategy that requires a bureaucratic-type structure that provides high work specialization and tight controls? lumen
A bureaucratic organizational strategy requires a type of structure that provides high work specialization and tight controls.
A bureaucratic organization is a government agency or for-profit corporation with strictly adhered-to operating regulations and a rigid line of command. It is a hierarchical administrative system that is used in both public and commercial sector settings.
People frequently compare successful bureaucratic organizations to machines because of how effectively they run. These companies are run by managers who provide orders to departmental teams, who can produce satisfying results by adhering to predetermined workflow patterns.
The clarity that comes from a clearly defined management system is the major advantage of a bureaucratic organizational structure.
To know more about work specialization click here,
https://brainly.com/question/20471631
#SPJ4
one result of relying on a matrix structure as a solution to coordinating problems in multi-national enterprises is that it blank . multiple choice question. usually resolves issues quickly is a natural lead into cooperation can get bogged down in a bureaucratic mess is a flexible structure that adjusts to the situation
One result of depending on a matrix structure as a solution to coordinating problems in a multi-national enterprise is that can get bogged down in a bureaucratic mess.
An organizational structure matrix is the combination of two or more different organizational structure types. It is a method of establishing your company so that reporting networks are put up as a grid or matrix as compared to a conventional hierarchy.
A complex organization with multilayered systems and procedures/practices is referred to as a bureaucratic mess. Efficiently implemented systems and processes slow down decision-making. They want to uphold control and homogeneity within the company.
To learn more about matrix structure
https://brainly.com/question/15039869
#SPJ4
your store sells five varieties of 16 oz. bags of potato chip costing $1.25, $1.49, $1.50, $1.39, and $1.35 respectively. what is the mean price of the 16 oz. bags of potato chips?
$1.40 is the mean price of the 16 oz. bags of potato chips.
Why do you use the word costing?
Any method for allocating expenses to a company component is known as budgeting. Price is frequently used to establish expenses for customers, channels of distribution, personnel, regions, goods, product offerings, processes, subsidiaries, and whole businesses.
What does business cost?
Costing is the process a businessman uses to figure out the cost of producing and selling any individual product (item or services).
Briefing:
The mean is the average:
(1.25 + 1.49 + 1.50 + 1.39 + 1.35)/5 = 1.396
The closes option is $1.40
To know more about costing visit:
https://brainly.com/question/15135554
#SPJ4
What type of communication channels do not follow the chain of command and develop outside the formal structure of the organization?
Informal channel is the type communication channel that does not follow the chain of command and develop outside the formal structure of the organization
Informal Channel of communication doesn't follow the laid rule or hierarchy of command. is also an official way of communicating, with somewhat relaxed norms. It is a casual exchange of information among coworkers. Informal communication channel is an unofficial and unstructured channel which is not prescribed by the organization but exists due to personal and social needs of people working in an organization.
Lunchtime is an example of informal communication channel because, the atmosphere during that time is relaxed and communication and discussion among workers are encouraged.
Single strand, gossip chain, probability chain and clusters are types of informal communication.
Learn more about communication channel here
https://brainly.com/question/22558440
#SPJ1
depreciation expense is net income in a statement of cash flows prepared using the indirect method because it .multiple choice question.added back to; is a cash outflow subtracted from; is a cash inflowadded back to; is a noncash expenseadded back to; is a financing activitysubtracted from; is a cash outflow subtracted from; is a noncash expenseadded back to; is a cash inflow
Depreciation expense is net income in a statement of cash flows prepared using the indirect method because it is a noncash expense added back. Thus, option B is correct.
What is a depreciation expense?A fixed asset's share that is deemed used inside the reporting quarter is subject to depreciation expense. The cost is subsequently added to the expense list. With this payment, the remaining balance of marketable securities will be steadily decreased as whose value is depleted over time.
Net income fails to take into account cash generated from operations even though depreciation is subtracted by the accountant when calculating net income. Depreciation expense should be put revenue is recognized under the indirect method because net income serves as the preliminary step for calculating cash flows generated by operational activities. Therefore, option B is the correct option.
Learn more about depreciation expense, here:
https://brainly.com/question/15024945
#SPJ1
suppose that one worker in gambia is paid the equivalent of $5 per hour and can produce five baskets per hour. suppose that one worker in the united states is paid twice the wage rate, or $10 per hour, but can produce twice the baskets, or 10 baskets per hour. which country has the higher labor cost?
Neither, the labor costs are the same suppose that one worker is paid the equivalent at different rates.
A direct labour cost is a component of the wage bill or payroll that can be specifically and consistently attributed to or related with the production of a good, the completion of a specific task, or the rendering of a service. We can also state that it represents the price of the labour performed by those employees who really create the product on the assembly line. The total amount of wages paid to employees, employee benefits, and payroll taxes that a business must pay make up the cost of labour. Direct and indirect labour expenses are separated. Indirect costs are related to support labour, such as those who look after industrial equipment, whereas direct costs are related to the wages of those who manufacture a product, such as those who work on an assembly line.
learn more about labour cost here
https://brainly.com/question/14671852
#SPJ4
1. how many units are projected to be sold during the first quarter of 2012? if unit sales price is $15.00, what is the projected sales amount for the first quarter of 2012?
$40,000/$15.00 = 2666 units are projected to be sold during the first quarter of 2012 if unit sales price is $15.00,
Explain sale price.
The discounted price at which products or services are being sold is known as a sale price. Typically, this price is provided for a brief period of time in an effort to boost sales during a sluggish period or get rid of extra inventory. The discount is shown in the advertisement as a percentage off the list price. As a consequence, a sale price of $70 will be achieved with a 30% discount on a $100 list price.
Another way to understand the phrase is to say that it simply refers to the selling price of an item. For instance, a piece of art would be sold for that amount if bids reached a record high of $10 million. This meaning of the phrase is essentially the opposite of the one that came before it.
To learn more about sale price
https://brainly.com/question/851744
#SPJ4
Which one of the following is a primary component of an internal control system?
a. Monitoring
b. Chain of command
c. Financial pressure
d. Physical controls
e. Bonding
One of the primary components of an internal control system is monitoring.
Internal control systems are designed to provide reasonable assurance that an organization's objectives are being achieved and that risks are being managed effectively. Monitoring is a key component of this process, as it involves regularly reviewing and evaluating the effectiveness of the internal control system, identifying any areas of weakness or potential improvement, and implementing corrective actions as needed. Other components of an internal control system may include the chain of command, physical controls, and bonding, among others.
Learn more about the internal control system here:
https://brainly.com/question/26398073
#SPJ4
In the short run, however, most economists believe that real and nominal variables are intertwined. Economists use the model of aggregate demand and aggregate supply to examine the economy's short-run fluctuations around the long-run output level. The following graph shows an incomplete short-run aggregate demand (AD) and aggregate supply (AS) diagram—it needs appropriate labels for the axes and curves. You will identify some of the missing labels in the questions that follow.
The horizontal axis of the aggregate demand and aggregate supply model measures the overall ???.
The aggregate ??? curve shows the quantity of goods and services that firms produce and sell at each price level.
According to the question, in the short run of economists:
The horizontal axis of the aggregate demand and aggregate supply model measures the overall quantity of output. The aggregate supply curve shows the quantity of goods and services that firms produce and sell at each price level.What do you mean by the aggregate demand and supply?The total quantity of demand for all finished products and services generated in an economy is measured as aggregate demand.
The total amount of money spent on those goods and services at a particular price level and time is known as aggregate demand.
The whole supply of products and services produced within an economy at a specific overall price over a specific time period is known as aggregate supply, also known as total output.
The amount that businesses are willing to create and the amount that customers are willing to demand at a particular price point are expressed as aggregate supply and aggregate demand.
Therefore, according to the question, in the short run of economists:
The horizontal axis of the aggregate demand and aggregate supply model measures the overall quantity of output. The aggregate supply curve shows the quantity of goods and services that firms produce and sell at each price level.To know more about the aggregate demand and supply, visit:
https://brainly.com/question/29349235
#SPJ1
joe (55) and gail (49) are filing jointly for 2021. joe earned $40,000, and gail earned $2,500. joe may contribute up to $7,000 to his ira for 2021. if joe contributes $5,000 to his ira, how much can they contribute to gail's ira for 2021?
If joe (55) and gail (49) are filing jointly for 2021. joe earned $40,000, and gail earned $2,500 and joe may contribute up to $7,000 to his ira for 2021. if joe contributes $5,000 to his ira, the amount they contribute to gail's ira for 2021 is $2,000.
How to determine their contribution?Using this formula to find their contribution
Contribution to gail ira = 2021 Amount Joe contributed to his IRA - Amount that Joe contributed
Where:
2021 Amount Joe contributed to his IRA =$7,000
Amount that Joe contributed = $5,000
Let plug in the formula
Contribution to gail ira = $7,000 - $5,000
Contribution to gail ira = $2,000
Therefore the Contribution to gail ira is the amount of $2,000.
Learn more about IRA contribution here:https://brainly.com/question/29693867
#SPJ1
an apple juice company set its company objective and strategy to grow its market dominance by 5% in 2016. the marketing department set their strategy to create and additional product to offer the market, but were so excited about and focused on getting the new product formulated and onto the market that they conducted no market research to get an indication if the market wanted such a drink. what did the marketing department forget in collecting inputs for their strategy?
The marketing department forgot the target customer in collecting inputs for their strategy.
How does target group strategy work?A target market strategy is a business plan that aims to increase sales and brand recognition within a certain demographic of customers. To do this, firms develop their strategies depending on the demography of the market, which is the area or group targeted for the selling of products. Geographical, demographic, psychographic, and behavioral segments make up the four target markets. For instance, if you run a daycare center, children and their parents are your target demographic. They will be the ones to use your services. However, your target market may also consist of neighborhood companies, grandparents, local schools and churches, as well as members of your community.
To know more about target market strategy, visit:
https://brainly.com/question/20812603
#SPJ4