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Bad White [126]
1 year ago
9

The features of a product or service that most, if not all, customers prefer are called_________blank.

Business
1 answer:
r-ruslan [8.4K]1 year ago
7 0

We, consumers, favor products or services that perform well or prefer the "<u>performance attributes</u>" of what we want to consume. This feature is most, if not all, customers prefer.

The dimension of the utility function for the customer is the performance attributes of a product, good or service. Performance quality, attributes and characteristics distinguish the goods or services from those of rival brands or businesses, which the buyer may find to be very important.

If we ask a firm what their product or service is to be given and we can relate to its features or performance characteristics, the strategic activities correspond to the performance attributes subcomponent of the market utility function.

Find out what appeal is a creative strategy that elaborates on product or service attributes or benefits: brainly.com/question/28348246

#SPJ4

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All else being equal, does elastic or inelastic demand curve result in higher social surplus? How does elasticity of supply affe
disa [49]

Answer:

An elastic demand curve will result in higher social surplus. Social surplus equals consumer surplus plus supplier surplus, or simply total surplus. The highest possible social surplus is reached at the equilibrium point.

If a product's demand is completely inelastic, the supplier can increase the price at will, reducing consumer surplus to minimum levels. If a product's demand is completely elastic, then consumer surplus increases while supplier surplus is directly related to shifts in the demand. Higher demand increases supplier surplus.

7 0
3 years ago
Why does the increased demand for more service make product management more difficult?
Rama09 [41]

Answer:

One of the hardest challenges in product management is getting people aligned—especially if they have different reporting lines and objectives. Here it helps to remember that our job is not to have all the answers—but to ask the best questions.

Explanation:

4 0
2 years ago
Read 2 more answers
Give an example of a situation in which a surplus of a product led to decreased prices. similarity, give a example of a situatio
andrew11 [14]

Answer:

Give an example of a situation in which a surplus of a product led to decreased prices. similarity, give a example of a situation in which a shortage led to increased prices. what eventually happened in each case? why?

In the course of having surplus of a product which decreases the price, this happens as a result of high competition as there many people selling the same products which in turns leads to crash in price in order to make sales and little profit.

while product shortage or scarcity happens as a result of decrease in resources or decrease in supply, hence; results into scarcity of products which eventually aids increment of price

Explanation:

3 0
3 years ago
Many small firms seek to establish a particular niche in the market, realizing that they cannot afford to operate on a larger sc
Karolina [17]

Answer:

Letter A is correct. <u>Fostering competition.</u>

Explanation:

In this case, it is correct to say that small businesses are fostering competition.

Competition in the business world can be defined as a situation where two or more companies that supply products are rivals in the quest to conquer the same market and the same customers.

Large companies often have some dominance and influence over the market, which means that they impose various barriers to market entry by other competing companies, especially if they are micro-companies. In the case of the above question, when there are a large number of small companies looking to establish themselves in a specific niche in the market, due to possible retaliation by large companies, together, they are exerting an influence on the market that promotes competition.

4 0
2 years ago
An Amazon seller is deciding which of their products to invest in for the next quarter to maximize their profits. They have each
Aleksandr [31]

This question is about the sales strategy for online selling portal Amazon.

An Amazon seller is identifying strategy to revive its declining sales. The seller wants to maximize its revenue by adopting optimum product mix for next quarter.

The maximum profit can be calculated using the following :

maxProfit (k , profit): n = len(profit) rotate = n // 2

windowSum = float('-inf') iterator = 0

Conclusion: The products which are showing positive trend in the market should be placed visible for the next quarter. The products products profit is estimated to be equal to cost to invest which the price of product plus its launching expense.

Formula: The maximum profit a seller can achieve through this strategy is (k , profit):

n = len(profit) rotate.

Learn more Business at brainly.com/question/26144002

8 0
2 years ago
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