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yulyashka [42]
3 years ago
5

James employs an apprentice in his guitar store who gets firsthand knowledge of craftsmanship and the process involved in becomi

ng a professional luthier. This allows James to have a reliable hand who can assist him in his work without requiring him to hire a professional luthier. It also enables him to use his financial resources on procuring high-quality materials to make the guitars. The opportunity of _____ is highlighted in the given scenario.
Business
1 answer:
MrRa [10]3 years ago
3 0

Answer: Having lower opportunity costs.

Explanation: Opportunity cost can be defined as the cost of next best alternative foregone. In this case, James is saving his money by taking work of a professional from a new recruit also he gets the opportunity to procure high quality materials which he was earlier not able to. Thus, he is saving a major portion of income because of a less costly alternative available.

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Under holistic marketing, the whole of a business is being taken into consideration. Here, the different department in the organization all come together as one and engage in marketing activities in order to achieve organizational goals.

In holistic marketing, the stakeholders, workers, suppliers, customers are all taken into consideration during the creation of marketing strategies. This is vital for building a stronger brand as a positive image is being projected projecting by the organization through the interactions of customers with the brand.

Nestlé is a Health and Wellness Company. It has a large geographical presence, and also make huge sales. Nestlé follows the holistic marketing as every field of nutrition is being considered by the company. This include milk products, chocolate, mineral water, ice cream, infant formula, confectionery, instant coffee, frozen ready-made meals etc.

Lastly, Nestlé builds long-lasting relationships with everyone that's one way or the other related to the company such as its workers, stakeholders, clients etc. The company also treats its employees well as it knows that a satisfied workforce will bring about a better relationship with customers and increase in customers satisfaction.

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