Question

Visit any retail store in your community and request a 20 minutes appointment to interview the owner or manager so that you can collect relevant information State the name of the business and the year in which it was established
1.1 List and explain any THREE objectives this business is able to meet?
1.2 Use an appropriate example from this retail store and differentiate between total revenue average revenue and marginal revenue.​

Answer 1

The three objectives in the retail store are:

• Excellent Customer Service.
• Boast Brand Awareness.
• Create or form Brand Loyalty.

What is average revenue?

Average revenue is known to be the one that depicts how much revenue exist  per unit of the output.

Marginal revenue is one that connote the increase or boast up that is found in total revenue as it is said to be increasing from one output unit.

Note therefore, that if the three objectives in the retail store are meant, the store will have a lot of customers.

Learn more about  retail store from

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