Notice: Payments for answers will end 4/10/2017. Click for more info.
You have new items in your feed. Click to view.
Question and answer
Q: Discuss several reasons why marketers continue to have a difficult time understanding, predicting, and explaining consumer behavior.
A: The first area, financial accounting, is used mainly for ascertaining the results of any such business on a periodic basis, for i.e. 6 months. This should as a result; help the company determine the future course of action, in the long term. [ [ From an economic perspective, financial accounting treats money as a factor of production. Management and cost accounting are apparatus used to help
management make decisions on a day to day basis. Management and cost accounting aren?t useful simply for their own sake. These two functions help management conduct themselves along with other vital factors involved in the running of a business. Other key factors could be supply, demand, competitors, availability of raw materials, logistics etc. The second area is cost accounting, its primary purpose is to attain the value of direct and indirect costs involved in production. From the value acquired, management can make an informed decision on improvement in production performance. From an economic perspective, cost accounting is the measurement of economic performance. Thus, this information gives management a clearer indication of the performance of the product resources in the business. Costing also helps the sales manage in setting the correct price. But, because costing is solely a measurement of economic performance, it can not be considered as an accurate basis for setting prices. This is because selling prices is more of an economic decision. It would not be wrong for me to mention that pricing is basically determined by market factors. Prices are influenced mainly by demand, supply and competition, less on costs. For i.e. high demanded plus lack of competition would result in the business charging higher prices for its product, well above the costs. The third area is management accounting, which is related closely to cost accounting. Although it has essentially evolved from cost accounting, management accounting plays a much broader role in management decisions. It measures the performance, economically, of the whole business, vis-?-vis the economic environment that the business operates in. This area of accounting, seeks to combine both financial and cost information into a much broader function. ] ]
Expert answered|ianbearpig|Points 120|
Asked 2/25/2013 8:07:49 PM
0 Answers/Comments
Get an answer
New answers

There are no new answers.


There are no comments.

Add an answer or comment
Log in or sign up first.
26,403,228 questions answered
Popular Conversations
Solve 3x - 1 = 10
Weegy: The solution for |2x + 1| = 10 is x = 9/2 , or x = -11/2 . User: Solve 6x - 2 = 4x + 13 for x.
9/20/2017 1:35:02 PM| 2 Answers
Weegy: 5c - 9 = 8 - 2c the answer is c = 17/7. 5c - 9 = 8 - 2c 5c + 2c = 8 + 9 7c = 17 c = 17/7
9/22/2017 3:57:10 PM| 2 Answers
Weegy: x=-a User: 4x144
9/22/2017 4:22:41 PM| 2 Answers
Find the GCF 15, 18, 30
9/19/2017 9:38:43 AM| 2 Answers
what is business education
Weegy: Education can be defined as the art or process of imparting skill and knowledge.
9/13/2017 5:10:47 AM| 1 Answers
what is parent function?
9/13/2017 4:31:46 AM| 1 Answers
What is a pie chart?
9/13/2017 8:56:49 AM| 1 Answers
Weegy Stuff
Points 144 [Total 1880] Ratings 4 Comments 104 Invitations 0 Offline
Points 73 [Total 84] Ratings 5 Comments 23 Invitations 0 Offline
Points 30 [Total 30] Ratings 3 Comments 0 Invitations 0 Offline
Points 16 [Total 16] Ratings 0 Comments 6 Invitations 1 Offline
Points 15 [Total 112] Ratings 0 Comments 15 Invitations 0 Offline
Points 11 [Total 11] Ratings 1 Comments 1 Invitations 0 Offline
Points 10 [Total 10] Ratings 1 Comments 0 Invitations 0 Offline
Points 10 [Total 10] Ratings 1 Comments 0 Invitations 0 Offline
Points 10 [Total 10] Ratings 1 Comments 0 Invitations 0 Offline
Points 5 [Total 5] Ratings 0 Comments 5 Invitations 0 Offline
* Excludes moderators and previous
winners (Include)
Home | Contact | Blog | About | Terms | Privacy | © Purple Inc.