The equilibrium price of a product is inversely proportional to the equilibrium quantity. The intersection of the demand and supply curves determines both of these values.
The cost at which the amount provided and demanded are equal is referred to as the equilibrium price. Its value is determined by where the demand and supply curves cross. If more goods are produced than are needed to satisfy demand, there is a surplus and this pushes prices lower. If more people want a good than can be supplied, there is a shortage and this pushes prices up.
The only price at which consumer and producer intentions coincide is the equilibrium price, which is reached when the quantity sought by consumers and the quantity supplied by producers are equal. Equilibrium quantity is the name given to this common quantity. A product's equilibrium quantity is determined when supply and demand are equal.
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Erin works at a financial institution. She has offered a housing loan to a customer. While carrying out the transaction, which legal responsibility should she address?
While carrying out the transaction, the legal responsibility which Erin should address is: D. ensure that she credits the loan amount accurately to the customer's account.
What is a loan?A loan simply refers to an amount of money that is being borrowed by a borrower (customer) from a bank or other financial institutions (lender), and it is legally expected to be paid back by a borrower to the lender at a specific period of time with an agreed interest.
In this scenario, Erin being an accounting official (employee) of this financial institution is saddled with the legal responsibility of ensuring that she accurately credits the amount of money borrowed (loan) to the account of this borrower (customer).
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Complete Question:
Erin works at a financial Institution. She has offered a housing loan to a customer. While carrying out the transaction, which legal responsibility should she address?
A. arrange an informal meeting with the customer
B. organize a success party for the department
C. disclose all confidential Information about the organization to the customer
D. ensure that she credits the loan amount accurately to the customer's account
E show the customer a list of people who defaulted on similar loans
melvin charges a fee of $1,080 for merchandise purchased by a customer. assuming that the amount includes 8% of sales tax, melvin should credit sales tax payable for:
Melvin should credit $80 in sales tax payable (reference: $1,080 - (1,080/1.08)).
Tax are mandatory financial charges or some other type of levy imposed upon a taxpayer by a governmental organization in order to fund various public expenditures. Failure to pay, as well as evasion or resistance to taxation, is illegal and punishable by law.
Taxes can be direct or indirect, and they can be paid in cash or in sales tax. The purpose of taxation is to finance public goods and services such as roads, schools, and national defense.
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a new life policy is being purchased, and the producer knows that an existing contract through a different insurer will be lapsed. this is an example of:
A new life policy is being purchased, and the producer knows that an existing contract through a different insurer will be lapsed. This is an example of replacement.
What is replacement?Replacement means to replace a card in the file at its previous location or policy .Common synonyms for replacement include replace, displace, and supersede. All of these words mean "to put away or put in place from their usual or suitable place", but to replace means something that is lost, ruined, or no longer usable, or It means to fill the place occupied by something that is no longer suitable. I replaced a broken window.These can be further subdivided into the following types: (i) Determining the useful economic life of a policy . (ii) replace existing assets with new assets; A simple probabilistic model for a fully failing policy (a spare due to sudden failure).Someone is doing the work for someone else, or you are using something in place of something else: The policy has sent a replacement for the dismissed secretary.To learn more about replacement from the given link :
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required assume that joey's bike shop uses the allowance method of accounting for uncollectible accounts and estimates that 1 percent of its sales on account will not be collected. answer the following questions: what is the accounts receivable balance at december 31, year 1? what is the ending balance of allowance for doubtful accounts at december 31, year 1, after all entries and adjusting entries are posted? what is the amount of uncollectible accounts expense for year 1? what is the net realizable value of accounts receivable at december 31, year 1?
Receivables, loans, or other debts with essentially zero prospect of being paid off are considered accounts uncollectible. A debt may become uncollectible for a variety of reasons, such as the debtor's bankruptcy, an inability to locate the debtor, the debtor's fraud, or a lack of adequate documents to support the existence of the debt.
What kind of account is considered to be uncollectible?A T-account for accounts receivable keeps track of the total amount owed by all of a company's clients. The expected amount that will eventually need to be written off as uncollectible is reflected in a second account (often known as the allowance for doubtful accounts or the provision for uncollectible accounts).
2% of net credit sales are represented by the uncollectible accounts expense balance. When the net-sales approach is applied, the balance in this account will always be a function of a predetermined percentage of credit sales.
Example
Bicycle parts are offered for purchase at Joey's Bike Shop. Despite making most of its transactions in cash, it also does a sizable number of credit sales. In its first year of business in 2018, Joey's Bike Shop encountered the following:
Sales on account = $271400
Cash sales =623.100
Collections of accounts receivable = 257.830
Uncollectible accounts charged off during the year =1335
Account Receivable = 12 215
Uncollectible account expense = 2714.
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nancy works for northrop grumman corporation. she is assigned to a group of employees who work on solving quality issues the company is facing. nancy participates in a(n)
Based on the fact that Nancy is assigned to a group of employees who have to solve the quality issues being faced by the company, Nancy is participating in a Quality circle.
What is a Quality circle?A Quality circle in a company refers to a department that is formed to solve any issues that the company has with the quality of the goods or service that it is providing to its customers. The people in this department are often drawn from different department so as to create a diverse pool that can come up with different solutions to whatever quality issues the company is facing.
Some of the solutions that a Quality circle might come up with include sourcing better materials or giving employees better training. Nancy is in a team that is in charge of solving any quality problems the Northrop Grumman Corporation has so she must be in a Quality circle.
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the existing spot rate of the canadian dollar is $.82. the premium on a canadian dollar call option is $.04. the exercise price is $.81. the option will be exercised on the expiration date if at all. if the spot rate on the expiration date is $.87, the profit as a percent of the initial investment (the premium paid) is: group of answer choices
The net profit per unit is 50%.
The net profit per unit is: $.87 - $.81 - $.04 = $.02. The net profit per unit as a percent of the initial investment per unit is: $.02/$.04 = 50%.
A financial ratio called net profit margin, sometimes referred to as profit margin or net profit margin ratio, is used to determine the percentage of profit an organization generates from its total sales. It gauges how much net profit a business makes for every dollar of revenue generated. The ratio of net profit, also known as net income, to total sales, stated as a percentage, is known as the net profit margin.
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How does the habit of creating a budget—and sticking to it—reflect financial maturity and responsibility?.
The habit of creating a budget and sticking to it reflects financial maturity and responsibility as a person learns to keep his expenses in control.
The habit of creating a budget shows maturity and responsibility as a person learns to keep his expenses under check by creating a budget.
A budget abstains a person from buying unnecessary things and acting responsibly toward your expenses.
Creating a budget makes you responsible by realizing where to spend your money.
The financial life of a person is traced through the budget and by stocking to your budget you can save for your future and be responsible towards your future.
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Which system is quick, impulsive, and intuitive, relying on emotions or habits to provide cues for what to do next?.
Reactive systems are prompt, impulsive, and intuitive; they rely on feelings or routines to give them indications about what to do next.
In contrast to the reactive system, which is rapid, impulsive, and intuitive and relies on emotions or habits to give indications as to what to do next, the reflective system is logical, analytical, deliberate, and meticulous. According to neuropsychological research, the brain can only use one feelings information-processing system at a time [Darlow & Sloman] and that the two systems are controlled by various regions of the brain.
From an evolutionary standpoint, the basal ganglia and amygdala (more primitive portions of the brain) are more involved in the reactive system, Reactive systems whereas the prefrontal cortex is more involved in the feelings reflective system.
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select all that apply. demonstrating positive employability skills is important at work. which of the following are positive employability skills your employer is seeking? responsibility responsibility punctuality punctuality commitment commitment enthusiasm
Responsibility and punctuality demonstrating positive employability skills is important at work. Employers value honesty, reliability, attitude, and loyalty in their workers. These are the qualities of someone who will do their duties well, aid in business success, and promote personal development.
It is getting more and harder for workers to stand out and do well in the employment market. Many people are searching for new jobs amid competition, and as a result, competitiveness is growing. Although the offer is quite attractive to businesses, it is best for people who already have a job to remain there. To stand out in the eyes of employers, job applicants must retain the aforementioned qualities.
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true or false: if market testing returns with positive results, the firm is then ready to introduce the product to the entire market, which is called a product launch.
The answer is true. There are several techniques to assess your product's potential. Consignment testing, paid surveys, market research smartphone apps, and independent market researchers, for instance, are all affordable alternatives to test-market your product.
Before releasing a new product, it pays to collect user input. After the product and its marketing plan are finalized, the following phase entails determining how marketable the suggested product is. The examination and techniques of the new product's projected sales, costs, and profits are part of this step in the new product development process. the procedure used to launch a new product onto the market for initial sales.
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the amount paid for some benefits based on a recipient's ability to pay rather than on fixed fees is known as general revenue. true false 1 points question 7 social workers must pay special attention to social welfare policies because some policies are unfair and therefore must advocate for them to be changed. true false
False. General revenue is the income that a government receives from all sources, including taxes, fees, and investments.
What is revenue?
Revenue is the money earned from normal business activities and is calculated by multiplying the average sales price by the amount of units sold. Net income is calculated by subtracting costs from the power play (or gross income). Revenue is cash brought into a business by its operations. Depending on the accounting rules used, there are various methods for calculating revenue. Accrual accounting will treat credit sales as revenue for goods or services provided to the client. Revenue is recognised although if payment has not yet been did receive under certain rules.
To determine how efficiently the company collects money owed, examine the cash flow statement.
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Liz owns a small technology firm where she has sole control and has personal liability for any business debts that arise. This is an example of which form of legal organization?.
The given situation is an example of a sole proprietor.
Who is the Sole proprietor?A person who runs an unincorporated business alone is known as a sole proprietor.
If you choose to treat a domestic limited liability company (LLC) as a corporation, however, and you are the only member, you are not considered to be a sole owner.
All obligations incurred by the company, however, are individually accountable to the business owner.
Small companies like neighborhood grocery stores, neighborhood clothing stores, an artist, freelance writers, IT consultants, freelance graphic designers, etc. are examples of sole proprietors.
An LLC exists independently of its members, who are its proprietors. Members are not personally liable for the obligations and liabilities of the company, nevertheless.
The LLC is in charge here.
A sole proprietorship is a privately owned, unincorporated business that is
Therefore, the given situation is an example of a sole proprietor.
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if two restaurant managers disagreed about which restaurant should get additional funds to pay for extra staff on the restaurant floor, what would be the source of their conflict? resource constraints organizational structure differing values differing task goals
Differing process goals would be the root of their disagreement if the owner and one of the restaurant managers got into a fight over whether it was more crucial to concentrate on filling chef positions or ensure that the wait staff in the restaurant performed well.
In general, the term "conflict" refers to any major debate and disagreement about a significant issue; hence, when two persons or groups are engaged in conflict, restaurant they are engaged in a severe argument or lack of agreement over specific issues managers.
A process objective in a business is a goal that specifies the procedures to be followed in order to promote quality results. They frequently concentrate on accomplishing something rather than achieving a goal, such as preventing outside interference, which is typically seen as entirely the employee's responsibility in order to meet.
As a result, interpersonal conflicts can arise when different process goals are set, especially restaurant when those goals have more to do with communication techniques used to resolve conflicts and guide decision-making managers.
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Straight-line and declining balance methods allocate the cost of a long-term asset based on , while an activity-based method allocates the cost of an asset based on its.
A straight line and declining balance methods allocate the cost of a long term asset based on time while an activity based method allocated the cost of an asset based on its use.
What is balance methods accounting?In accounting, a balance method refers to the accelerated depreciation system of recording larger depreciation expenses during the earlier years of an asset's useful life while recording smaller depreciation during its later years.
Under this method, the straight line basis entails the process of expensing an asset over a longer period of time than when it was purchased while the declining balance method allocates a greater amount of depreciation in the earlier years of an asset's life than in the later years.
However, the activity-based method is known as unit of production depreciation which calculates depreciation based on the unit of production and ignores the passage of time over the useful life of an asset.
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accompanying the bank statement was a credit memorandum for a short-term note collected by the bank for the depositor. this item would be included on the bank reconciliation as a(n)
According to the company's records, this item would appear as a(n): Deduction from the amount on the bank reconciliation. A debit memo for an NSF check that was received from a customer was included with the bank statement.
What is discovered during the bank reconciliation?The bank column in the cash book displays the cash at the bank, whereas the cash column in the cash book displays the available cash. Similar to this, every consumer has a record with the bank. Deposits are recorded on the credit side of the bank books, whilst withdrawals are recorded on the debit side. Unpaid checks are already listed in the book, thus they are a bank reconciliation item. Only for goods needed for book reconciliation will the company create journal entries. Therefore, there is no need to journalize unpaid checks. The right response is outstanding checks. The transit deposit is added to the bank reconciliation statement, but the unpaid checks are subtracted. Thus, the right response is
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shuaifu wants to reorganize his beverage bottling company. currently, there are hr, r&d, and purchasing units at each facility. shuaifu feels that by bringing all of those key functions together in one location and deploying them to the facilities only when needed, he will save money and also create consistency. is shuaifu correct?
Yes, because the company will need fewer employees overall, saving money and allowing for consistency in processes.
The manufacturing process would be streamlined and decisions would be taken in an efficient manner.
The money spent to maintain extra facilities and coordinate the supply of raw materials would be minimized and subsequently, employee downsizing could be achieved. All this would lower the cost of daily and long-term operations.
The stronger a company's lifestyle, the better employees recognize what's expected of them and what they are working in the direction of. Engaged personnel is more likely to stay happy, influenced, and committed to your company. Usual, an engaged worker is greater: connected in your business enterprise's undertaking.
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when a sales department uses a strategy of involving several people from the organization, each applying his/her own expertise, in a selling effort, it is using the strategy known as
In general, your go-to-market positioning, sales actions, methodology, and channels should all be in line with your target market, ideal customer profile, and buyer personas.It should pinpoint customers' problems and show how the product or service will address them.
Why is a sales strategy important?Script-based selling, needs-satisfaction selling, consultative selling, and strategic partner selling are the four fundamental sales tactics that salespeople employ.Different approaches can be employed in various kinds of interactions. A sales strategy is a written plan for positioning and marketing your product or service to potential customers in a way that sets it apart from your rivals' offerings.Your sales organization should receive clear objectives and direction from your sales tactics.Here are a few examples of goals for a sales strategy:Shorten the interval between receiving an inbound lead notification and beginning the first sales touchpoint.Improve the appointment-setting procedure to make it simpler for a lead to establish a phone reservation. Script-based selling, needs-satisfaction selling, consultative selling, and strategic partner selling are the four fundamental sales tactics that salespeople employ.Different approaches can be employed in various kinds of interactions. A key component of business expansion is having a strong sales strategy.You can plan for the future, evaluate issues, and manage various ways across the organization when your strategy is well stated.The most effective sales strategy should contain a goal and a plan that can be updated over time.To learn more about sales strategy refer
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christmas for needy is a civic organization that provides christmas presents to disadvantaged children. the annual costs of this activity are $36,000, plus $20 per present. how many children will receive presents with a budget of $76,000?
2,000 children will receive presents with a budget of $76,000 when the annual costs of this activity are $36,000, plus $20 per present.
annual costs = $36,000, plus $20 per present
let the number of presents be y
Total budget = $76,000
$76,000 = $36,000 + $20y
$76,000 - $36,000 = $20y
$20,000 = $20y
y= $20,000/ $20
y= 2,000
number of presents= number of children
number of children = 2,000
2,000 children will receive presents.
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Companies go through different phases to reach product/market fit. These phases are the:
A: idea stage, the prototype stage, the launch stage, the traction stage, the monetization stage, and the growth stage.
B: idea stage, the prototype stage, the launch stage, the traction stage, and the growth stage.
C: the prototype stage, the launch stage, the traction stage, the monetization stage, and the growth stage.
D: idea stage, the traction stage, the monetization stage, and the growth stage.
As most companies go through different phases to reach the product/market fit, these phases includes the idea stage, the prototype stage, the launch stage, the traction stage, the monetization stage and the growth stage.
What is the product/market fit?Basically, a Product/market fit refers to the degree to which a product satisfies a strong market demand. It has long been identified as a first step to building a successful venture in which the company meets early adopters, gathers feedback and gauges interest in its product.
In other word, the product-market fit also describes a scenario in which a firm;s target customers are buying, using, and telling others about the company’s product in numbers large enough to sustain that product’s growth and profitability.
In conclusion, Marc Andreesen, who was credited with developing this concept states that a product-market fit means finding a good market with a product capable of satisfying that market.
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when auditors encounter evidence of small-scale employee fraud that could not have a material effect upon the financial statements the auditors should
consider the implications for other aspects of the audit.
What are the responsibilities of an auditor ?
An auditor is a designated individual who examines and confirms the correctness of financial documents and makes sure that businesses adhere to tax regulations. Their main goal is to safeguard companies against fraud and draw attention to any inconsistencies in accounting practices, among other things.
In general, being an auditor is not a simple job. The auditor has accepted obligations to multiple parties and the responsibilities that come with being a recognized professional.
The trustworthiness of the financial statements and the information they contain essentially depends on the auditor's view. Compared to unaudited financial accounts, audited financial statements have a very high level of correctness and dependability.
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in 2022, wilma (who files as a head of household) reported regular taxable income of $150,000. she itemized her deductions, deducting $10,000 in charitable contributions and $2,000 in state income taxes. what is wilma's alternative minimum taxable income?
According to the given information, Wilma's alternative minimum taxable income is $152,000.
Total alternative minimum taxable income = Regular taxable income +
State tax income + Exemptions
There are no exemption claims in this question.
Regular taxable income =$150,000 and State tax income = $2,000
So, Wilma's alternative minimum taxable income = $150,000 + $2,000
= $152,000
Taxable income is the portion of your gross income that is used to determine your tax liability for a specific tax year. In general, it may be defined as adjusted gross income (AGI) less permitted standard or itemized deductions. Along with investment income and numerous unearned income streams, taxable income includes wages, salaries, bonuses, and tips.Earned income and unearned income both qualify as taxable income. Taxable unearned income includes forgiven debts, government benefits (such unemployment and disability payments), strike benefits, and lottery winnings. Taxable income also includes dividend and interest income, as well as revenues from the sale of valued assets during the year.Learn more about Taxable income, here
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which of the following sources of emergency funds will have the least negative impact on your lifetime financial situation if the source is used to meet emergency expenses? question 4 options: taking money from your savings account. selling investment assets. borrowing money using a credit card. being unprepared for major car repairs, major medical expenses, and major home repairs.
The source is used to meet emergency expense - Taking money from your savings account
What is emergency expense?
An emergency expense is a savings account that is used in times of personal financial distress. Events such as job loss, illness, or a recession are instances of when many people would require the use of their emergency expense to survive. As a result, the primary goal of the fund is to cover unexpected emergency expenses. As a result, there is less need to borrow at high interest rates or use one's retirement funds. Many financial advisors believe that an emergency fund ought to be able to cover up to 3-6 months of total costs.
Therefore, the correct option is A
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what were business practices employed by the titans of industry in the late 1800s? responses developing international cartels and lowering tariffs developing international cartels and lowering tariffs building monopolies and forming trusts building monopolies and forming trusts standardizing production and regenerating crafts standardizing production and regenerating crafts integrating vertically and increasing competition
Business practices employed by the Titans of industry in the late 1800s, is building monopolies and forming trusts. So, the correct answer is (b).
A monopoly is a market framework where one manufacturer or seller controls a significant amount of influence within a particular market. Monopolies are forbidden in unrestricted economies as they limit customer alternatives and impede competitiveness.
Monopolies have the ability to establish prices and erect impediments to entry for competing companies. Companies could become monopolies by consolidating their businesses to control the entire distribution network from manufacturing to sales, or by acquiring rival businesses and becoming the sole producer.
During 1800s, most of the Titans of the industries were employing the business practice of forming monopolies so that there will be no one to compete as well as forming trusts.
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which member of the production team is responsible for running the show at each performance and, during the rehearsal period, for compiling the promptbook?
The stage manager is a member of the production crew who is in charge of running the play at each performance and preparing the promptbook throughout the rehearsal session.
What are stage managers responsible for?The majority of stage managers work on theater shows, musical concerts, and dance events. Throughout the production and rehearsal process, they give invaluable practical and organizational support to directors, actors, designers, and technical staff, and they monitor onstage and backstage activities during performances to ensure the play runs well.
The following are the duties of a stage manager.
Rehearsal scheduling and managementCommunicating the director's desires to designers and artisans.Coordination of the stage crew's job.Cues for performers to enter and maybe exit during a performance.Each time the play is produced, I am in charge of overseeing the whole production.To know more about a stage manager, click
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xavier wants to know how much his company owns and how much it owes. he should look at the a. asset list. b. income statement. c. balance sheet. d. statement of cash flows.
He should look at the balance sheet.
The balance sheet of a business, also referred to as a "statement of financial position," lists the company's assets, liabilities, and equity (net worth).
Why is a balance sheet important?In addition to listing the company's assets and liabilities, a balance sheet serves the purpose of providing interested parties with information about the company's financial position. All investors should be able to use, interpret, and read a balance sheet. A balance sheet might provide information or justification for buying a stock.The balance sheet of a business, also referred to as a "statement of financial position," lists the company's assets, liabilities, and equity (net worth). The income statement, cash flow statement, and balance sheet together form the foundation of any company's financial statements.To learn more about : Balance sheet
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boats and bait has 59,000 shares outstanding that sell for a price of $55 per share. the stock has a par value of $2 per share. the company's balance sheet shows capital surplus of $90,000 and retained earnings of $130,000. if the company declares a stock dividend of 20 percent, what is the new common stock value on the balance sheet?
The new common stock value on the balance sheet will be $141,600
It is given that boats and bait have 59,000 shares outstanding that are sold for a price of $55 per share. First, we will find out the common stock value on the balance sheet prior to the dividend
=> No. of stock outstanding * Face value per share.
=> 59000 * 2
=> $118,000
The stock dividend is 20%. So, to find the new shares to be issued we can solve:
=> 59000 * 20%
=> 59000 * 0.2
=> 11,800 shares
Now we will have to find out the total stock outstanding after the dividend. This can be calculated by:
=> 59000 + 11800
=> 70,800 Shares
The value of common stock after the stock dividend will be
=> 70,800 * 2
=> $141,600
Hence, the common stock value will be $141,600 after the dividend.
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quincy's framing and art supplies frames artwork. the cost formula for the company's supplies cost is $1,880 per month plus $8 per frame. for the month of march, the company planned for activity of 628 frames, but the actual level of activity was 632 frames. the actual supplies cost for the month was $7,350. the activity variance for supplies cost in march would be closest to:
The Activity Variance for the cost of supplies is $80. Unfavorable Cost of Supplies Activity Variance = $80 Unfavorable
Budgeted Cost
=[(616 Frames x $10)+ $1,760]
=$7,920
Flexible Cost
= [(624 Frames x $10)+ $1,760]
=$8,000
The Activity Variance for supplies cost
=Budgeted Cost - Flexible Cost
=$7,920 - $8,000
= $80 Unfavorable
An examination of the discrepancy between anticipated and actual Activity Variance numbers is the essence of variance analysis. The Unfavorable total of all deviations provides an overview of the overall over- or under-performance for a given reporting period. Companies evaluate each item's favorability by contrasting real costs with average industry expenses.
The discrepancy between standards and actual performance metrics is what we refer to as a "variance." Variances are calculated for the cost Activity Variance and quantity of the materials, the labor cost, and the Unfavorable variable overhead, and they are then communicated to management. Not every difference, though, is significant.
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be healthy, a vitamin manufacturer, has divided its huge consumer base into smaller groups based on age: children, adults, and the elderly. this is an example of multiple choice distribution management. product development. market segmentation. market targeting. product positioning.
Dividing the huge consumer base is an example of market segmentation.
The term market segmentation refers to dividing the whole market into subsets or parts based on a particular criteria related to making profit in the business in a more easier way.
Here, by market it refers to the consumer base which is divided by age or interests or priorities to make manufacturing according to needs of the same.
Market segmentation is done in different ways like demographic, psychologic, behavioral and geographic.
In the given example, the vitamin manufacture segments it s huge consumer base into smaller groups based on age into children, adults and the elderly. This is market segmentation. Manufacturers can be more efficient by doing so.
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suppose that real gdp per capita in the united states is $32,000, while its annual growth rate is 2%, and that real gdp per capita in china is $4,000, while its annual growth rate is 7%. how long will it take china's real gdp per capita to double? 35 years 10 years 50 years 14 years
The time in which the real GDP per capita of China will be double is 10 years.
GDP or Gross Domestic Product is defined as the sum of all the goods and services produced within a territory in a year. GDP is a measure of determining the economic worth of a particular country. According to the question GDP per capita of United States is $32000, GDP per capita of China is $4000. The growth rate of US is 2% and growth rate of China is 7%. By the rule of 70 the GDP of China will get double in
70/Growth rate.
So, the GDP of US will get double in 70/2 = 35 years and
The GDP of China will get double in 70/7 = 10 years and the amount will be equal to $8000.
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a(n) refers to the approach used in an advertisement to elicit some consumer response or to influence the feelings of consumers toward a product, service, or cause.
Advertising appeals refers to the approach used to attract the attention of customers or to influence their feelings towards a brand, product or service.
What is Advertising appeals ?The term "advertising appeals" describes the strategy used to grab consumers' attention or shape their perceptions of a company, a good, or a service. The main message of an advertisement is to appeal to a person's needs, wants, or interests in order to persuade her to do the desired action, which is typically "Buy me."
Advertising is a non-personal type of communication by an identifiable sponsor about a given good, service, cause, or idea. At its foundation, advertising appeal works to grab consumers' attention, successfully sway their emotions, and shift their attitudes in favour of the promoted good or service.
A campaign's advertising appeal is a crucial component. A buyer might not relate to the brand or the product if it lacks attractiveness. When there are numerous rivals, the decision to purchase a good or service becomes much more complicated.
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