Answer: This statement is True.
Explanation:
A mission statement for a store or a company is very important. This shows the customers what the store or company wants for their employees and their customers. A mission statement should speak about the values held by the founders and be inspiring for others. Positive goals that are reachable should be included in the mission statement. The mission statement should include why the store or business was made and the reason for its existence.
<span>Is called adaptation strategy. Adaptation is the process of modifying an existing product so it is suitable for different customers or markets. An adaptation strategy is important for companies, because it ensures that the product meets local cultural and regulatory requirements.</span>
Assessing how customers in the target market evaluate price is the <u><em>second </em></u>stage in the pricing process.
A company's pricing process is the amount it asks for its goods or services. As a result, the profitability of a business is directly related to the pricing decisions it makes. A product's pricing is determined by several variables, including its cost to produce, the intensity of competition, the state of the market, and the level of quality it offers. When determining the prices of its goods and services, a company should keep in mind the requirement to recover both the direct and indirect expenses associated with production and a reasonable profit. If the selling price of a product is below the company's operating expenses, the company will go bankrupt.
When setting prices for its wares, a company employs a variety of strategies and procedures. An efficient pricing strategy is one that maximises the surplus between the producer and the customer. A company's pricing plan should be practical, adaptable, and profitable.
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International Trade.
When a company sells its product over the US border into another country they are participating in International Trade.
Answer:
Complete detailed step wise solution is given below:
