Describe the Following Terms and Then Construct an Illustration to Demonstrate

question 65

Essay

Describe the following terms and then construct an illustration to demonstrate the relationships involved: potential market,available market,qualified available market,target market,and penetrated market.

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Definitions:

Units Produced

The total number of complete products manufactured or finished during a specific period of time.

Domestic Fares

The price charged for flights within a country's borders.

Variable Costs

Costs that change in proportion to the level of goods or services that a business produces.

High-Low Method

The high-low method is a way of estimating the variable and fixed costs of a business by analyzing the highest and lowest levels of activity and their corresponding costs.