Answer:
None of the options is correct.
Explanation:
In a perfectly competitive market a company will shut down in the short run if its product's price is less than the variable cost (total revenue is less than total variable costs).
Since all the companies are price takers in a perfectly competitive market, then the company cannot increase their prices, so they will temporarily shut down until the equilibrium price increases above its variable cost.
Answer:
Channel of distribution
Explanation:
A channel of distribution is a means used to get a product from the producer or manufacturer to the consumer. Channels of distribution include wholesalers, retailers, distributors etc.
Answer:
The correct answer is letter "B": core rigidity.
Explanation:
A competitive advantage is an advantage that a company has over its competitors. It could be a <em>comparative advantage</em> if the company had a lower opportunity cost in its production process or a <em>differential advantage</em> if the product produced by the company has a unique feature.
<em>The big failure of Seth's Computer Repair depends on not listening to its internal consumers: their workers. Employers may provide useful input to businesses that could influence the direction of the operations. For that reason, Seth's lost part of its customers when a new competitor entered the market because they kept implementing the same </em><u><em>rigid</em></u><em>, outdated approach that had worked before.</em>
<em>There are many ways to gather customer feedbacks. Such ways are:
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<em>1. Use of survey forms in written and electronic process (by means of emails and online forms). - Letting customers to answer survey forms for you will let you know how you are performing in terms of customer satisfaction. Whether it is in a form of manual paper surveys or online surveys.
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<em>2. By calling and messaging your customers regularly. - If you cannot make time to create survey forms, you can call your clients directly to ask them about their satisfaction with your service. The advantage of this method is you can get the feedback right away and at the same time, you can hear it directly from the customers with full detailed explanation.
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<em>3. By establishing a page in social media and monitors it for their reactions and feedbacks. - social media can be a huge help when it comes to gathering customer feedbacks. Millions of people owned social media accounts even businesses. This method is faster among any other methods mentioned.
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<em>4. By having live chat support on your webpage and social media accounts. - You can also add live chat support in your webpage and social media account for complete customer feedback experience.
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<em>Customer Feedbacks are extremely important so you can know the things that you need to improve and you can know the current standards of your company if you are really helping your customers. Bad customer experience can lead to bad reputation. In order to change that reputation, you must know how the customer get into that situation and plan for a change of action.</em>
