Marketing and Sales Questions

Price and quantity supplied move in the same direction. As the price decreases, quantity supplied also decreases and viceversa.

Market failure arises because it is not possible for the market to correctly weight cost and benefits in a situation in which some of the cost is completely unaccounted.

Demand-side market failures happen when demand curves do not reflect consumer’s full willingness to pay for goods or services.

Supply-side market failures occur when supply curves do not reflect the full cost of producing a good or services.

Marketing Research Process is a systematic method for planning and executing market research projects to inform business decisions.

The 5 Step Marketing Research Process :

1. Define the Problem or Opportunity
2. Develop Your Research Plan
3. Collect Relevant Data and Information
4. Analyze Data and Report Findings
5. Take Action.

The Sales Order is a confirmation document sent to the customers before delivering the goods or services. 

Sales Order (SO) can be created once the quote is accepted by your prospective customer and the Purchase Order (PO) is sent by the customer for further processing.