As a barrier to new entry, absolute cost advantages can be based on: <u>Control over low-cost inputs required for production, be they labor, materials, equipment, or management skills.</u>
<h3>
What is a Barrier to Entry ?</h3>
In theories of competition in economics, a barrier to entry, or an economic barrier to entry, is a fixed cost that must be incurred by a new entrant, regardless of production or sales activities, into a market that incumbents do not have or have not had to incur.
Barriers to entry, in economics, obstacles that make it difficult for a firm to enter a given market. They may arise naturally because of the characteristics of the market, or they may be artificially imposed by firms already operating in the market or by the government.
Barrier to entry is a high cost or other type of barrier that prevents a business startup from entering a market and competing with other businesses. Barriers to entry can include government regulations, the need for licenses, and having to compete with a large corporation as a small business startup.
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Answer: The answer is given below
Explanation:
According to Gerzema, some of the changes that consumers are making when it comes to spending money or buying an item include the idea of using debit cards at the expense of credit cards. This implies that individuals are now paying for goods and services with the money that is already with them.
He also said individuals now go after the “liquid life”, where he said that individuals define success on liquidity and not on having things. He also said individuals look at organization's values and that they're always looking for ways to have value for things they buy. The cause of these are the fact that consumers are being empowered and also wants to improve their economy.
Answer: Customer value marketing
Explanation:
Customer value marketing could be defined as measures taken by companies to improve services for the customers, the aim of these method of marketing is to retain the customer to always engage in the services offered by the company. Companies vary in how the carry out this marketing method, most use calls, mails, physical visit to clients residence or office or promotional offers which will motivate the costumer buy more or always prefer the companies services. Enlightened marketing calls is one of the measures taken to retain customers. This calls tell the customer of how the services of the firm is improving and other updates the customer needs to know.
The company uses a job-order costing system that applies manufacturing overhead cost to jobs on the basis of direct labor-hours
<h3>What is
manufacturing?</h3>
Manufacturing is the process of creating or producing goods using equipment, labor, machines, tools, and chemical or biological processing or formulation. It is the essence of the economy's secondary sector.
The Manufacturing Principles are a set of elements shared by all manufacturing industries that revolve around the concepts of flow and variation. These principles have emerged as a result of close collaboration with the manufacturing industries at both the research and operational levels.
API production entails a wide range of complex chemical or biological processes. API synthesis from raw materials necessitates multi-step procedures involving a variety of high-tech processing technologies.
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Answer:
Correct, both are functions of the public relations department
Explanation:
Depending on the size of the company, maintaning positive relationships with the media becomes important. This is because small businesses do not tend to have a lof of exposure on television, radio, or newspapers.
Big companies on the other hand, are on the public spotlight all the time, and the public relations department of those companies are professional and have enormous budgets, because a decline in media perception can be very detrimental to the company's businesses.
And maintaining a positive image, with customers, with workers, and with all stockholders, is essentially the raison d'etre of every public relations department.
