market research
This type of research involves collecting data from a small group of people to understand their opinions and behaviors.
What is a focus group
This production method involves producing a large quantity of a product at once.
what is mass production
This method of improving productivity involves using technology to automate tasks.
what is automation
This is the point at which a company's total revenue equals its total fixed and variable costs.
what is the break even point
This method of market segmentation involves dividing a market based on characteristics such as age, gender, and income.
what is demographic segmentation
This method of data collection involves sending a self-administered questionnaire to a large number of people.
what is a survey
This production method involves producing a small quantity of a customized product.
what is job production
This method of improving productivity involves eliminating waste and inefficiencies in production processes.
what is lean production
If a company sells 1,200 units at $30 each, what is the total revenue?
what is 36,000
This method of market segmentation involves dividing a market based on characteristics such as location and climate.
what is geographic segmentation
This type of research aims to understand the characteristics of a specific market or industry.
This production method involves producing a product in a continuous flow.
what is flow/continuous production
This measure of productivity calculates the output per hour of labor.
what is labour productivity
A company’s total revenue is $50,000, and its variable costs are $20,000. What is the total contribution margin
what is 30000
This method of market segmentation involves dividing a market based on certain characteristics such as values and lifestyle.
what is psychographic segmentation
This research method involves observing people's behaviors in a natural setting.
what is observing
This production method involves producing a product in batches.
what is batch production
A factory produces 10,000 units in a month using 50 workers who each work 160 hours. What is the labor productivity per worker?
A company has fixed costs of $18,000, sells each product for $60, and has variable costs of $35 per unit. What is the break-even point in units?
what is 720 units
This method of market segmentation involves dividing a market based on characteristics such as purchasing habits and loyalty.
what is behavioral segmentation
This type of research involves analyzing data from existing sources, such as company records or industry reports.
what is secondary research
This production method involves producing a product just in time to meet customer demand.
what is just in time production
A company produces 24,000 units using 8 machines that operate for 300 hours each. What is the machine productivity (units per machine hour)?
what is 10 units per machine hour
A business sells a product for $50 per unit. The variable cost per unit is $20, and the fixed costs are $15,000. How many units must be sold to break even?”
what is 500 units
This method of market segmentation involves dividing a market based on the benefits that customers seek from a product.
what is benefit segmentation