Insurance companies collect and hold a customer's premiums and pay claims from that money in the event that the customer has a loss.
<h3>What is insurance?</h3>
Insurance involves securing an item against accident or any damages.
An individual can insure properties such as Land, building or Life by paying certain amount of money which serves a premium.
Therefore, insurance companies collect and hold a customer's premiums and pay claims from that money in the event that the customer has a loss.
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Answer:
Sole ownership will be the best for the coffees business
Explanation:
This is because opening a coffee shop comes with the individual usually having a very great deal of passion for it. The recipes for the coffee would also be best suited to a person who prepares it in his/her unique way.
The coffee shops mostly comes with a reasonably average degree of profitability and lower risks due to a low degree of wastage or spoilage and it being very easy to make so it’s best owned by a single person to cut cost and avoid profit sharing .
Answer: Market Penetration Pricing.
Explanation:
MPP, Market Penetration Pricing is a where a company uses a strategy to attract customers to their product. Which also means lowing the price for customers to buy their products.
When lowing a price: This strategy is used to attract customers, they buy their product - then if they like it they will keep buying it even if the price is raised. This is a common strategy for tons of company brands.