The country of origin effect occurs when the place where a product is manufactured influences the consumer's perception of the product. s country.
The basic product forms the core of the entire product. It represents a problem-solving feature or basic benefit that consumers look for when purchasing a product.
The actual product tier consists of basic elements combined with core values to create a finished product that can be marketed. These elements are: Quality: Quality is the main factor in determining the value of a product compared to competing products of the same type.
distribution channels include his four types: direct sales, intermediary sales, dual distribution and reverse logistics channels.
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Answer:
In addition to the explicit costs and revenues used by accountants, economists include all implicit costs and revenues when calculating profit. This means that they include opportunity costs and changes in the value of any assets owned by the firm.
Explanation:
accounting profit = total revenues - total explicit costs
- explicit costs include all the actual measurable expenses like manufacturing costs, selling costs, etc.
economic profit = accounting profit - opportunity (implicit) costs
- opportunity or implicit costs are extra costs incurred or benefits lost from choosing one activity or investment instead of another one
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