Answer:
The principles of management are same.
Explanation:
Whatever industry the company is operating in, the way the company is managed is the same regardless the size, industry and motive of the company.
Answer:
a. product differentiation
Explanation:
Product differentiation is the process whereby a product or service is distinguished from others. This is to make it more attractive to a particular segment of the market which is quite different from the general market.
For Huy Fong trying to introducing a new milder version of its renowned Sriracha hot chili, it would represent product differentiation.
Offering regular customers discounts on products is known as an external incentive.
Option D
<u>Explanation:</u>
External incentives can be defined as the form of additional bonus, products, loyalty services or exclusive deals. Incentives help in developing the brands in the following areas,
- Trust-worthy relationship
- Stimulating impulsive purchases
External incentives acts as simulator in boosting the business levels; improving the brand and increasing the sales. For example, offering free mints after a meal in restaurants would attract more customers to the restaurant.
Answer: Option (B) is correct.
Explanation:
Opportunity cost is the benefit that is foregone for an individual by choosing one alternative over other alternatives available to him.
If the opportunity cost is lower for an individual then this will benefit him whereas if the opportunity cost is higher then this will not benefit the individuals.
The opportunity cost of attending college for Brooke is the amount that she could earn as an actress i.e. $2 million per year.
The opportunity cost of attending college for Sandy is the amount that he could earn by serving hamburgers i.e. $10,000 a year.
Therefore, opportunity cost of attending college is greater for Brooke than for Sandy.