A relatively inexpensive item that merits little shopping effort, is called Convenience product.
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What is the Product?</h3><h3>
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Product refers to the finished goods or the material that has been converted from the raw material to fulfill the needs of the customer. There are four types of product i.e. convenience goods, shopping goods, specialty products, and unsought goods.
Convenience product is that type of the product which can be purchased with the minimal efforts because it is cheap in value and can be purchased frequently.
In the above case, Carolina picks up the toothpaste which is the example of the Convenience product.
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Answer:
<u>$38.5 million</u>
Explanation:
Since the April Wood incoming transactions-accounts receivable increased by 4 million we obtain the cash value by substracting the question total accounts receivable value from the sales.
Where;
sales= $42.5 million
accounts receivable increase= $4 million
Amount of cash April Wood Products received from customers during the reporting period=
$42.5 million - $4 million= $38.5 million
Entrepreneur magazine reports startup costs between $2,000 and $50,000 for different retail enterprises, from antique furniture sales to musical equipment sales. A figure of $30,000 to launch a retail operation is a good median number to work with.
totally answer
Answer:
b. substitutes
b. competitive intelligence.
Explanation:
In the context, Paul and his wife wishes to open up a new restaurant in Beaufort and did much of analysis and research before taking any decision and studying the restaurant industry market.
The factor that Paul have considered in analyzing the competitive environment is the substitutes. The competitive environment as described by Michael Porter includes customers, substitutes, suppliers, new entrants, compliments and other rival firms.
The information Paul has collected in the competition analysis can be referred to -- competitive intelligence.
Competitive intelligence may be defined as the information that is necessary in deciding how best to manage in the competitive environment that the managers have identified.
