Answer:
The income effect
Explanation:
The income effect refers to an increase in the purchasing power of customers simply because the products or services that they want to buy are cheaper. Since the price of the products or services decreases, the customers are able to purchase a higher quantity of them.
Answer:
e. trialability
Explanation:
Trialability is the ability to give an idea, process, product, or system a trial before making a final decision.
It indicates the degree to which a product or innovation can be experimented by the customer before they finally buy.
Warby Parker has leveraged on this strategy by allowing customers browse frames on Warby Parker’s website and select five pairs they would like to try on before buying—or not. Warby Parker handles all the shipping costs and provides all the return packaging
Answer:
The correct answer is letter "A", "C", and "E": continuous improvement; just-in-time manufacturing; total quality management
Explanation:
Lean practices involve several activities companies can engage to reduce inefficiency at work. Organizations achieved this by eliminating wasteful practices among employees to improve the output quality and keep consumers preference, thus making a profit. <em>That improvement must be continuous and imply managers will seek constantly perfection</em>.
For instance, manufacturing companies can eliminate waste by keeping tight deadlines and <em>delivering their products just in the time</em> the suppliers or final consumers expect.
