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In 7-42, simplify each expression. Assume thai all | Ch R - R.8.23

Algebra and Trigonometry | 8th Edition | ISBN: 9780132329033 | Authors: Michael Sullivan ISBN: 9780132329033 217

Solution for problem R.8.23 Chapter R

Algebra and Trigonometry | 8th Edition

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Algebra and Trigonometry | 8th Edition | ISBN: 9780132329033 | Authors: Michael Sullivan

Algebra and Trigonometry | 8th Edition

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Problem R.8.23

In 7-42, simplify each expression. Assume thai all variables are positive when they appear. NVs)2

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MGM Exam 1 Study Guide  The Four P’s: Product, Price, Place, & Promotion – Regarding advertising  Advertising Age’s Top 5 “Marketers of the Century”: o Proctor & Gamble  Multiple Branding – Many brands in many market segments; focusing on individual brands, giving them individual identity.  Family Branding – Name on every product o McDonald’s  Target audience are tweens (10-12) b/c they are young, and can be longer lasting customers  Transformational advertising o Coca Cola  Coca Cola is one of the largest brand equities in the country  Brand Equity – value in brand name  Value of Company ($) – Tangible Assets Value = Brand Equity o Anheuser Busch o Nike  Family Branding  Competing on price is “lazy” & generally unsustainable  lose $$  Intro. To Marketing: o Marketing – “The activity of creativity, communicating, delivering, and exchanging offerings that benefit the organization, its stakeholders, and society at large.”  Creating ideas, goods and services, and being able to communicate and deliver what they are about.  It is the profitable establishment of Consumer Value; from either high quality or low price o Purpose of business: to obtain & keep customers o Customer Value – “A unique combination of benefits received by targeted buyers that includes quality, price, convenience, on-time delivery & both before and after sale service.”  Consumer’s individual benefits of the product including quality, price, convenience, & punctuality o Synonyms for Value:  Utility (4 Types):  Time – customers appreciate things on their schedule (convenience – fast & now)  Place – people want the product where they want it o E.g. – beer at the game way more expensive than in a liquor store, yet people purchase it because it’s convenience  an experience is sold with the product (atmospherics)  Form – product comes in multiple forms o (E.g. – Apple v. Apple Juice)  Possession – The use of a product before actually owning it (E.g. – mortgage)  Satisfaction – are people satisfied with the product  Benefit o The Exchange Process – the trade of things of value between buyer and seller so that each is better off after the trade  We trade in different products, money for something of worth to us. Both benefit.  Diminishing Marginal Utility – trading two things of value, but if you keep getting that something it becomes of less worth to you o Marketing Mix – make decisions based on the mass, not the few  Controllable Factors (the 4 P’s)  Product – Variety, quality, design, features, brand name, packaging, services, warranties  Price – List price, discounts, allowances, payment period, credit terms  Promotion – Channels, location, inventory, transportation, atmospherics  Place – Sales promotion (coupons/rebates), advertising, sales force, public relations, direct marketing, e-commerce o Bring product from one place to another o Market Share – ratio of sales revenue of the firm to the total sales revenue of all firms in the industry, including the firm itself  Market Share % = Sales $/Total Market $ o STP Marketing:  Segmentation – How do we think of the market place Identify all relevant segments if the market  Different consumers/customers, provide different marketing mix  Break up market into groups  Targeting – different purposes & different prices for different audiences. Choose 1 or more of the segments to concentrate on  Positioning – positioning compared to competitors. Position the products in the minds of the consumer  Marketing & Corp. Strategy: o Mission Statements – indication of the company’s values.  Information about products, customers, technology, etc. o Avoid Marketing Myopia  Myopia – cannot see the big picture. Many companies view themselves in production process as supposed to from what the consumer wants o Corporate Goals: must be specific & measurable  Sales Revenue  Profit  Return on Investment  Quality  Social Responsibility o Relative Market Share (RMS) – Firm’s raw market share divided by the raw market share of a firm’s largest competitor  RMS > 1, RMS is the highest/one of the highest in market  RMS < 1, fast growing market, does not create profit immediately (-products)  Star products are often still not profitable, but they produce & learn more from competitors so cost of production is less  Dog Products are in a slow market  Cash Cow products are slow in growth market with highest market share & low production costs  Cash cow invests in all 3 (, star, & dog products), which is known as a success sequence  RMS ≥ 10% = fast growth market o Focus on market growth rate instead of market size because it is more dynamic & future oriented  When market power increases, production costs decrease & entry barriers increase  When you have the highest market share, you have more power (deters competition) o Core Competencies – capabilities resulting from personnel, resources, or functional units that determine the means of achieving sustainable competitive advantage and marketplace success  Sustainable Competitive Advantage – unique strength from consumer’s perspective relative to competitors (quality, service, time, cost, etc.) o SWOT: Strengths, Weaknesses, Opportunities, & Threats of an organization  Determines where business is now, & where it is going o Return on Investment:  Larger market share has greatest influence on ROI  Costs go down  discourages competition  If market is lousy, so is market share  The faster a company moves along the cost curve, the better of  In the short-run they give up profit, but in the long-run they will make profit  need to spend $$ to make $$ o Product Growth Strategies:  Market Penetration – same product & customers, but try to sell more  Market Development – same product with new customers  Product Development same customer, different product  Diversification – new product & new markets o Budgeting: must be affordable, percentage of sales, optimized, with an objective and task that is competitive  Promotion is necessary to drive sales up  Take a % & put it towards next year’s promotions/advertising  What you do v. what you need to do  Share of Marketing Effort – appropriate market share with budget  Spend more to make more in order to grow  To maintain just balance the budget  1 ½ Rule – amount of market share growth, take market share % X 1.5  Marketing Environment: o Constraining – understanding the environment & how it’s changing (where it is going) o Perspectives:  Control:  Adapt – most often because environment is out of our control  Modify – approach for goal  Threat/opportunity – company can either take advantage of or get rid of the rumors o Environmental Levels:  Marketing Department – 4 P’s with regards to environment  Internal – Top Management personnel & other departments  Micro – customers, competitors, stakeholders, suppliers, channels  Macro – Social, economic, technological, regulatory  Social: Micro-cultures & Diversity – core set of beliefs  Demographics: population size, geographic distribution, age distribution, & household consumption o Population size increased with baby boom which led to greater thinking  Echo Boom  followed baby boom, smaller, but still large growth of people  Had to relate old age with younger age  Population shifted from rural to urban (early 1900s), urban to suburban (1930s-80s), & suburban to exurbs (1990s-2000s)  Fewer babies now because we are focused on careers  50% of families were “traditional” back in 70s  now 25%  Divorce rate is now ~50%  Economic Environment: o Size of Economy  Gross Domestic Product (GDP) – directed towards inflation o Consumer Ability & Willingness to Buy  Ability to Buy:  Gross Income  (Taxes)  Disposable Income  Disposable Income  (necessities)  Discretionary Income o Necessities are different for everyone  Taxes & necessities – impact what we do with money in the future; almost like ‘fixed costs’  Environmental Levels: o It is easy to do business when things are good, but it is important to keep chugging when things are bad (E.g. – Hyundai)  Hyundai gave their cars out during the recession and if customers couldn’t be paid back, they could just return them no charge. Big return for Hyundai o Macro Levels: Social (slower), Economic (faster), Technological (much faster), & regulatory  Regulatory:  Protecting Consumers  Consumerism  Protecting Competition  Political Pressure  Technological Environment (issues):  Television – HD/Digital, TiVo; cuts advertisements  bad for marketing; method of delivery  now can just use web  Telephone – went from only phone calls  Basically everything (portable computer) & ads. Can be delivered based on consumer location  Genetic Engineering – drugs made for specific individuals in the future  Computer & WorldWideWeb – retail and advertising has changed due to social media  Smart Products – integrate more technologies into individual products

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Chapter R, Problem R.8.23 is Solved
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Textbook: Algebra and Trigonometry
Edition: 8
Author: Michael Sullivan
ISBN: 9780132329033

The answer to “In 7-42, simplify each expression. Assume thai all variables are positive when they appear. NVs)2” is broken down into a number of easy to follow steps, and 15 words. Since the solution to R.8.23 from R chapter was answered, more than 253 students have viewed the full step-by-step answer. The full step-by-step solution to problem: R.8.23 from chapter: R was answered by , our top Math solution expert on 01/04/18, 09:25PM. This textbook survival guide was created for the textbook: Algebra and Trigonometry, edition: 8. Algebra and Trigonometry was written by and is associated to the ISBN: 9780132329033. This full solution covers the following key subjects: . This expansive textbook survival guide covers 15 chapters, and 8585 solutions.

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In 7-42, simplify each expression. Assume thai all | Ch R - R.8.23