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Elis [28]
3 years ago
8

What is the Porter's 5 forces model?

Business
1 answer:
neonofarm [45]3 years ago
4 0

Answer:

Created by a Professor Michael E. Porter, from Harvard, this model explains the various forces applied to a business.

Competition in the industry : Are there competitors in the industry?  If so, are they numerous and weak or is the industry dominated by a few major players?

Potential of new entrants into the industry : What's the risk of having new competition?  If you are selling a product, can you protect it with a patent for example?

Power of suppliers : Can the suppliers of what you need easily affect the prices?  It's basically asking if there is competition in your suppliers' market.

Power of customers : That related to your customer base.  If your customer base is large, chances are no individual will be able to force your price down.  But if you are dealing with a limited number of customers, one of them might force you to lower your prices.

Threat of substitute products: Is there any comparable product/service offered at a lower cost that might bring your prices down?

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Unlike product, promotion, or place, price is the only part of the marketing mix
mario62 [17]
Yes, its is the only thing marketing mix does. 
4 0
3 years ago
At Fantastic Flavors, a large regional chain of candy stores, employees from marketing, design, production, and finance departme
k0ka [10]

Answer:

The answer is: C) team-based new product development

Explanation:

Team based new product development: When a company assembles a cross functional team of employees form different departments to work on the development of new products or services.

This approach has the advantage of saving time over the traditional process of passing a new product from one department to another.

5 0
3 years ago
For the following transaction, determine whether cash flows from operating activities will increase, decrease, or remain the sam
grandymaker [24]

In case collected cash from a customer is for services that will be performed in the next accounting period the cash flow from operating activities will increase.

The cash flow from operating activities will increase cash flow in the period of receipt itself as it will result in an increase in the cash balance of the organization  In case collected cash from a customer is for services that will be performed in the next accounting period.

If the balance of an asset will increase, cash float from operations will be lower. If the stability of an asset decreases, cash flow from operations will boom. If the balance of liability will increase, cash flows with the flow from operations will grow. If the balance of a liability decreases, cash flows with the flow from operations will decrease.

An accounting period, in bookkeeping, is the length with reference to which control accounts and economic statements are organized. In management accounting, the accounting length varies extensively and is decided with the aid of management. monthly accounting durations are common.

Learn more about accounting here brainly.com/question/26690519

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8 0
1 year ago
What kind of value chain can be described as purchases being made by the retailer from the manufacturer and then the retailer se
shepuryov [24]

Answer:

D. Manufacturer to wholesaler to consumer

Explanation:

I had the same quiz question and I chose that one. May not be correct though

7 0
2 years ago
List four people who are likely to play a role in the induction of a new employee?​
RUDIKE [14]

Answer: The answer is personnel manager,Top level management such as Directors, Marketing manager, Safety officer

Explanation:

Induction is the process of introducing the new employees into the organization. During the induction process the new employees are acquainted with the policies, practices and general objectives of the organization. Induction is done with a view to generate the personal interest of the new employees in the organization and also to create the employees enthusiasm for the job and to ensure the employees loyalty to the organization. It involves the explanation of the issues such as history of the organization, products and services, General policies and practices, benefits such as insurance ,retirement and vacation, safety regulation .The following officers are likely to play a role in the induction of new employee

Personnel manager for personnel matters such as the benefits that will accrue to such employees such as insurance, retirement benefit and vacation benefits

Marketing manager to handle products and services offer to the target market by the organization

Top level management such as directors to handle matters such as Organization history and General policies and practices

Safety officer to handle matter such as the safety precaution to be taken by the new employees while doing their job

7 0
3 years ago
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