Answer: (D) Customer lifetime value
Explanation:
The customer lifetime value is the term, which refers to the overall profit of an organization and this type of method also helps in estimating the customer monetary in the business.
The customer lifetime value is basically using the predictive analytical method for analyzing the relationship with the consumers.
The customer lifetime value is refers to the metric of net profit in an organization and it also helps in making various types of decision in an organization in terms of development, marketing and the customer support.
Therefore, Option (D) is correct answer.
Answer:
Competitive Advantage refers to those attributes which makes a company's products stand out in the market against those of it's competitors and helps it gain a competitive edge.
Managers usually use the following four tools to analyze competitive intelligence to develop competitive advantages:
- Michael Porter's generic strategies
- Michael Porter's five forces model
- Value Chain analysis which aims to identify the value added at each level of production and assign extra importance to those stages which contribute immensely to a product's value.
- SWOT Analysis which is strengths weaknesses opportunities and threats. To maximize strengths, identify and limit weaknesses, sense and grab opportunities and minimize or avoid threats.
The publishers in the early days of book publishing are
considered to be no other than just a printer for they are able to publish
books and have them written on a reading material which is why they are
functioned to be as printers.
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Answer:
In this scenario, <u>LISA</u> has both an absolute advantage in food preparation, and <u>LISA</u> has a comparative advantage in food preparation.
Assume that initially, Sam and Lisa are splitting both tasks for a large number of events. Then they decide to start shifting some work according to the principle of comparative advantage. In particular, the person with the comparative advantage in food preparation will take over preparing food for one more event, and the other person will use the freed-up time to get more clients. As a result, the total number of events for which food is prepared will remain unchanged, but the number of new clients will increase by <u>1</u>.
Before they were getting 3 new customers since Sam got 2 and Lisa 1, but since Sam will only look for clients, then the total number of clients will be 4 (or 1 more).
Explanation:
It takes Sam 12 hours to prepare the food for an event and 3 hours of effort to get each new client.
- Sam's opportunity cost of preparing food = 12/3 = 4 new clients
- Sam's opportunity cost of getting new clients = 3/12 = 0.25 of food preparation
For Lisa, it takes 10 hours to prepare food for an event and 5 hours to get a new client.
- Lisa's opportunity cost of preparing food = 10/5 = 2 new clients
- Lisa's opportunity cost of getting new clients = 5/10 = 0.5 of food preparation