When eight to ten potential customers are asked for feedback on a good or service, advertisement, idea, or packaging by a company, they are called a ________
A) target market
B) focus group
C) control group
D) consumer advocacy group
E) demographic group
B
Explanation: B) When conducting market research, a focus group can be very helpful. This is typically a group of eight to ten potential customers who are used in test-marketing an idea or new product. A target market is the group of potential customers to whom the product is ultimately intended to be sold. A control group would be a group of customers who are not participating in the research. A consumer advocacy group would be a group of consumers or people who are organized on behalf of consumers in order to promote the interests of consumers. A demographic group represents people of a particular age, gender, ethnicity, etc.
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A forecast based on the previous forecast plus a percentage of the forecast error is a(n):
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Scenario 12.1 Use the following to answer the questions. Concession Supply sells hotdogs, buns, and nacho ingredients to several major league ballparks across the country. Currently, Concession Supply has the following pricing information for one case of hotdogs sold at Wrigley Field: Total fixed costs = $1,200, Selling price = $16, and Variable costs = $6. Refer to Scenario 12.1. To break even, Concession Supply should sell ____ cases of hot dogs per day at Wrigley Field.
A. 13 B. 120 C. 40 D. 200 E. 60
A company had net cash flows from operations of $120,000, cash flows from financing of $330,000, total cash flows of $500,000, and average total assets of $2,500,000. The cash flow on total assets ratio equals:
A. 20.8%. B. 20.0%. C. 24.0%. D. 4.8%. E. 5.0%.