The price for cigarettes sold by Big Tobacco Co Ltd was 6.00 per packet in March 2018. During the month of March, the consumption of cigarettes was 1000 packets. However, the Board of Directors of Big Tobacco Co Ltd decided to increase the price by 25% during the month of April. As a manager you noted that price elasticity of demand was 0.8. As a manager Big Tobacco Co Ltd: A. Advise your management of the strategy that could be adopted by your firm to maintain sales. B. Also, advise your government on recommended interventions in the cigarette market.
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- You have been retained by a start-up that produces software that it sells to businesses across the world, and it does not have a mission as yet. You read somewhere that a mission statement answers some basic questions which are: • Who are our customers? • What are our customers’ needs? • How can we as an organisation help to satisfy these needs? • What environmental factors need to be taken in account? • Who are our stakeholders? Q.4.1 With these questions in mind craft a mission statement for the start-up. Q.4.2 Describe the evaluation criteria for B2B market segmentationYou have been retained by a start-up that produces software that it sells to businesses across the world, and it does not have a mission as yet. You read somewhere that a mission statement answers some basic questions which are: • Who are our customers? • What are our customers’ needs? • How can we as an organisation help to satisfy these needs? • What environmental factors need to be taken in account? • Who are our stakeholders? Q.4.1 With these questions in mind craft a mission statement for the start-up.The owners would like to know what reasons caused the current performance of the company and ask your opinion. Through review of the complete records you were able to obtain this additional information: (1) The selling price for every unit is P7.20 during 2018 and; (2) The marketing department did a tremendous job and was able to increase sales units by 20% during 2019. The increase (decrease) in gross profit because of the change in units sold is:
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