<span>Vincent enjoys teaching new employees the skills they need to make his products. The key phrase is “Vincent enjoys” which means he experiences a sense of fulfillment on what he is doing. His reason for being in the business himself is personal satisfaction.</span>
Answer:
<u>Reference Pricing</u>
Explanation:
Reference pricing strategy refers to a pricing mechanism whereby the products are priced slightly lower than competitor's products.
When such a pricing strategy is followed, the store owners provide heavy discounts to the buyers to encourage sales.
In the given case, the store deals in discounted furniture. Bella displayed manufacturer's suggested retail price so as to let buyers know of the savings they shall make upon purchase.
Such pricing of goods at a heavy discount thereby showing savings, indicates reference pricing strategy being followed.
Answer:
b. False
Explanation:
In a competitive environment, pricing strategy is one of the strategies to ensure efficiency and profitability. But lowering of prices at the expense of deterioration in the quality of product offerings cannot be a recommended strategy.
The four competitive strategies specified by Michael Porter are namely, Cost Leadership, Differentiation, Cost Focus and Differentiation focus.
Under Cost leadership, a firm strives to offer it's products at the lowest cost and be the cost leader in an industry.
Differentiation refers to adding unique attributes and values to the products which differentiates such products from those of the competitors.
Cost focus refers to cost leadership when targeted at a particular marketing segment and similarly, differentiation focus is differentiation when applied to a specific marketing segment.
A firm cannot focus at price at the expense of quality of it's offerings. Thus, keeping prices down isn't all which matters.
Answer:
A
Explanation:
Envelopement in business is defined as the entrance of the producer of a particular line of product into another market , incorporating the features of the new product into its already existing line to achieve a multi-platform.
This is especially common to the producer of mobile phones as they can now have features of music and video players incorporated into mobile phones.
In these scenario, the smartphone and music players manufacturer began to offer video recording features , taking over the benefit provided by Pure gear's offering.
In this situation , it will be cheaper and even more portable to use a video recorder and a smart phone . This apparently was the threat to the survival of the Flip video recorder in the market
Answer: A - saver or as a supplier of funds
Explanation: From the above question, Monika is a saver because her income exceeds her expenses.
In this case she saves more on a regular basis because she controls her expenses and would not allow her expenses to be more than her income.
Going further, she is also a supplier of funds as her excess funds kept in the bank is a source of funds for the bank to loan out to generate interest.
