Answer:
The correct answer to the following question is option A, i.e., To create more value for customers.
Explanation:
Generally, this answer is best for this question because customer satisfaction is more valuable for your business. The word 'value' is mostly means to price or any other things which have value for the businessman as well as the customers also.
In other words, when we create more value to the customer then we get more profit and if we do not value our customer then we suffer loss.
So, the customer value is more valuable or precious for the businessman or the firm.
Hargrave professional group performs legal services on account. The effect of this transaction on the balance sheet equation for Hargrave is Increase in assets.
<h3>What is Asset?</h3>
An asset is considered a resource of the business which has an economic value in the future of the business and helps business activities to take place smoothly.
Hargrave professional group performs legal services on account which reflects the Buying and sales of goods and services on credit. So this refers to the incoming cash in the business which indicates the effect of this transaction on the balance sheet equation for Hargrave is an Increase in assets.
Learn more about Asset, here:
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Answer:
The correct answer is the option D: tout differentiating features and charge a premium.
Explanation:
To begin with, the concept known as <em>''broad differentation strategy''</em> in the world of business refers to the process where the company focus in selling a product that stands out from the others and therefore the company makes its good an unique one by having something especial.
In the case presented, the marketing emphasis of a company pursuing a broad differentation strategy usually is to tout differentiating features and charge a premium due to the fact that those unique features will the make the product of the company a different one from the others and even though that they will charge more the customers will still choose the product if the see that there is no equal.
The economist's analysis in the scenario painted above incorporates the idea of OPPORTUNITY COST.
Opportunity cost refers to a value or a benefit which must be given up in order to enjoy or acquire another benefit. Because resources are scarce, one always has to make decision about how to use one's resources efficiently. In the scenario given above, Joe had the opportunity to put his money in a fixed deposit account or to use it to buy gold coins; he choose the latter given up the former. Thus, the former, which he gave up is his opportunity cost.<span />
