Foundations of Business (MindTap Course List)
6th Edition
ISBN: 9781337386920
Author: William M. Pride, Robert J. Hughes, Jack R. Kapoor
Publisher: Cengage Learning
expand_more
expand_more
format_list_bulleted
Question
Chapter 11.4, Problem 1CC
Summary Introduction
To determine: The meaning of market.
Introduction: A market is a gathering of people or businesses, or both, that require products in a given classification and that have the capacity, eagerness, and specialist to buy such items.
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solution
Students have asked these similar questions
In a table format, using the seven (7) different themes, summarise the difference betweenmodernism and post modernism.
a. Using the famous economist Ronald Coase theory, describe what is meant by Reductionof Buyers Transaction costsb. By way of giving examples, the meaning of Commoditization and efficient markets.
(a) Gaborone City Council is sitting on huge amounts of service levy arrears from the public.It is owed more than P5 million in arrears and it is looking at coming up with a number ofmethods that it can adopt in order to make it easy for the Gaborone residents to pay theiroutstanding arrears. The City Council floats an expression of interest for a consultant topresent on the available four methods of electronic payment. It requires that all those thatare extended an invitation to make a presentation, should simply the different methods bygiving examples where possible.Discuss. (b) Describe how a business can maximize revenue and not price.
Chapter 11 Solutions
Foundations of Business (MindTap Course List)
Ch. 11.1 - Prob. 1CCCh. 11.1 - Prob. 2CCCh. 11.2 - Prob. 1CCCh. 11.2 - Prob. 2CCCh. 11.3A - Prob. 1CCCh. 11.3A - Prob. 2CCCh. 11.3A - Prob. 3CCCh. 11.4 - Prob. 1CCCh. 11.4 - Prob. 2CCCh. 11.5B - Prob. 1CC
Ch. 11.5B - Prob. 2CCCh. 11.5B - Prob. 3CCCh. 11.6 - Prob. 1CCCh. 11.6 - Prob. 2CCCh. 11.7 - Prob. 1CCCh. 11.7 - Prob. 2CCCh. 11.8 - Prob. 1CCCh. 11.8 - Prob. 2CCCh. 11.9C - Prob. 1CCCh. 11.9C - Prob. 2CCCh. 11.9C - Prob. 3CCCh. 11.9C - Prob. 4CCCh. 11.10A - Prob. 1CCCh. 11.10A - Prob. 2CCCh. 11.10A - Prob. 3CCCh. 11.10A - Prob. 4CCCh. 11.10A - Prob. 5CCCh. 11 - Prob. 1DQCh. 11 - Prob. 2DQCh. 11 - Prob. 3DQCh. 11 - Prob. 4DQCh. 11 - Prob. 5DQCh. 11 - Prob. 6DQCh. 11 - Prob. 7DQCh. 11 - Prob. 8DQCh. 11 - Prob. 9DQCh. 11 - Prob. 10DQCh. 11 - Prob. 11DQCh. 11 - Prob. 12DQCh. 11 - Prob. 13DQ
Knowledge Booster
Similar questions
- (a) You have just been appointed to the role of Strategy management and you are tasked to lead the Government parastatal BOFINET to greater levels (using electronic commerce) by assessing the current technologies that Botswana as a country has already invested in. It is obvious that electronic commerce is built on top of a number of different technologies that create a layered, integrated infrastructure that permits the development and deployment of electronic commerce applications. The fact of the matter is that each layer is founded on the layer below it and cannot function without it. To be specific these layers are five (5) in number and they are: National information infrastructure; Message distribution infrastructure; Electronic publishing infrastructure; Business service infrastructure; and finally, Electronic commerce applications. You are expected to describe to the rest of management what these five layers mean, and considering how they depend on each other. (15 marks) i.…arrow_forwardCovid 19 disease outbreak was indeed a global disaster. This pandemic forced for a changein consumer behavior in almost all the market sectors. The Botswana local restaurant brand‘The Braai Place’ had just hit the market to compete with the established internationalbrands like Nandos and others when this disease outbreak hit the world by storm. As aresult, consumers were forced to stop from going out to the restaurant but had to rely moreon placing their food orders online and they be delivered by the restaurant to the customers,homes. Something that seriously came as a challenge to the local brand that was justgaining its momentum. It had to re-strategize and employ new ways of adapting to thiscompelling situation where customers orders were now only received, paid for andprepared through an online system. An urgent need for a revamped website, orderapplication system as well as a secure online payment method was what they needed sinceall the competitors had also responded to such new…arrow_forwardBy way of giving examples ,define dedifferentiationarrow_forward
- True or false Another name for PDF is Adobes portable document formatarrow_forwardQuestion 1 Write these abbreviations in full in terms of digital commerce. EDI. SSL. SET. EFT. ATM. Question 2 List the quadrants of the attractors' grid. Question 3 (5 marks) (4 marks) When does Hyperreality occur and list its three-stage process. (4 marks) Question 4 In a table format, using the seven (7) different themes, summarise the difference between modernism and post modernism. (17 marks)arrow_forwardState whether each of the following is true or false 1. Another name for PDF is Adobe's portable document format. 2. The Internet as well as the world Wide Web will have no fundamental influence on the pricing strategy of firms. 3. The internet is global network of networks. 4. Another name for internet is the intranet. 5. Coding or encryption techniques, old as writing, have been used for thousands of years to maintain confidentiality. 6. A major potential use of the Internet is to lower costs by distributing as much information as possible electronically. 7. A cookie can be used to remember what sites one has visited so that relevant advertisement can be supplied. 8. Societies have always needed secure methods of transmitting sensitive information and confirming the identity of the sender. 9. Internet explorer and Netscape navigator allow surfers to set options for various levels of warning about the use of cookies. 10. The low cost of electronic interaction will not make it easy for…arrow_forward
- 4. Pick the correct statement. A. Transmission Control Protocol is the communication network protocol used on the internet. B. Internet Protocol performs routing and addressing. C. Aand B. D. none of the above. 5. The two methods of transporting data across a network are A. e-mail and fax. B. fax and scanner. C. scanner and e-mail. D. circuit and packet switch. 6. Messages can be sent from one computer to another only when A. every server on the internet is uniquely addressable. B. they are the same brands. C. they are being operated by the same person. D. none of the above. 7. The key elements of the Web are: A. None at all here. B. URL and HTML. C. Network Protocol. D. B and Carrow_forward1. Which of following is a correct statement? A. Electronic commerce is a resolution in business practice. B. The Web is a friendly and extremely convenient source of information for many customers. C. Cheap personal computers destroyed the typewriter market. D. All of the above. 2. To counter demand risk, organisations need to be A. flexible. B. adaptive. C. Continually searching for new markets. D. All of the above. 3. Key features of the internet which make it a revolutionary force in the economy are: A. Speed of information transfer and the increasing speed of economic transactions. B. Time compression of business cycles. C. A and B. D. none of the above.arrow_forwardThere are ethical issues and potential ramifications to consider in marketing, when unhealthy products (or those that would be unhealthy when consumed in excess) are sold. Including some of the advertising used for sodas and sugary drinks, alcoholic beverages, tobacco products, and high-calorie "junk food." A sensitive topic is the issue of marketing to children. What business practices are socially acceptable, and where responsibilities lie have changed over time. Ronald McDonald has been a staple in advertising McDonald's fast food restaurants since the 1960s. What ethical issues are in using Ronald McDonald or McDonald's new mascot, Happy, to market to children? Should McDonald's and other food sellers do more to make their menus healthy? What are some changes that should be made to try and resolve some of these issues?arrow_forward
- O 1. Choose any consumer durable product that you purchased and explain the 4Ps of marketing mix and the three levels of product. 2. Write a service that you used/ utilized recently and explain the three extended P's. The distribution of marks will be as follows 4Ps of marketing Mix 3 levels of Product 3 extended Ps of Service ٠٥٦:٣٢ مarrow_forwardInvestigate the prices of the following products at least three different distribution outlets (and don’t forget the Internet): · An MP3 player · A cup of coffee · A car · A washing machine · A hamburger · A pair of Levi’s 501 blue jeans · A book What patterns do you notice? Do different distribution outlets include different levels of service with the product? Do you see a relationship between the brand name and the price? Which distribution outlet represents the best value for each product? Explain your answers.arrow_forwardIn a video that is going viral on social media, a Bengaluru based bike driver who works with Uber and Rapido has claimed that an income that will take many of us by surprise. In the viral video, the biker has said that he earns an impressive monthly income of Rs 80,000-85,000 by working up to 13 hours a day. Responding to his claim, the person who asked him was shocked and said, "Itna to ham nahi kamaate, bhaiya" (Even we don't earn that much!).arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
MarketingMarketingISBN:9780357033791Author:Pride, William MPublisher:South Western Educational Publishing
Foundations of Business (MindTap Course List)MarketingISBN:9781337386920Author:William M. Pride, Robert J. Hughes, Jack R. KapoorPublisher:Cengage Learning
Foundations of Business - Standalone book (MindTa...MarketingISBN:9781285193946Author:William M. Pride, Robert J. Hughes, Jack R. KapoorPublisher:Cengage Learning
Marketing
Marketing
ISBN:9780357033791
Author:Pride, William M
Publisher:South Western Educational Publishing
Foundations of Business (MindTap Course List)
Marketing
ISBN:9781337386920
Author:William M. Pride, Robert J. Hughes, Jack R. Kapoor
Publisher:Cengage Learning
Foundations of Business - Standalone book (MindTa...
Marketing
ISBN:9781285193946
Author:William M. Pride, Robert J. Hughes, Jack R. Kapoor
Publisher:Cengage Learning