Answer:
Satisfied and Loyal customers help in the profitability and growth of an organization.
Explanation:
When a company produces a product, they put their best in the design, process, manufacturing and dispatching of the product, so that their target customers use this product and gets satisfied. When consumers get the product of exactly their needs, they try to buy it again and again and becomes the loyal customers of that specific company. Such customers are the permanent customers of that organization and they are ready to pay for the product, thus helps in the profitability of the organization. Also when they talk about the product to other people, they become the marketing agents of the company, thus helping the company to grow. In this way, satisfied and loyal customers help in the profitability and growth of an organization.
Jake's global marketing effort is hampered by physical and environmental constraints because he was not able to do his strategies because of the physical and environment of the market that he sights on where his methods are not compatible and could not be applied for. Such as this example is that he uses heater coils when the chinese market still does not use indoor plumbing but to government run communal baths.
Answer:
de-industrialization
Explanation:
De-industrialization is a process in which there is a shift of industries from an economy.
It is not necessary that the industry is then relocated somewhere else.
But it does not work any further in the city it is setup. Here also, the factory is closed in South Carolina. That is de-industrialization in the current city.
Although, the industry is setup in Malaysia, but the company do not work in its earlier location. And it has shifted from original location.
Thus, it is a case of de-industrialization.
Answer:
$1
Explanation:
We can use the simple consumer surplus formula:
Consumer surplus = Maximum Price Willing to Pay - Actual Price
For Bob
Consumer Surplus = $10 - $8
= $2
For Lisa
Consumer Surplus = $7-8
= $-1
So, the total consumer surplus is $1
If the number of buyers of a good increases, the demand for the good will increase and the demand for labor used to produce that good will also increase.
Demand is the number of consumers who are willing and able to buy products at different prices during a given time period. Demand for any commodity denotes consumers' desire to obtain the good, as well as their willingness and ability to pay for it.
The demand for a good chosen by the consumer is determined by its price, the prices of other goods, the consumer's income, and her tastes and preferences. The quantity of the good chosen by the consumer is likely to change whenever one or more of these variables change. If other goods' prices, the consumer's income, and her tastes and preferences remain constant, the amount of a good that the consumer optimally chooses becomes entirely dependent on its price. The demand function is the relationship between a consumer's optimal quantity choice of a good and its price. If demand for a firm's output increases, the firm will demand more labor, thus hiring more staff
Learn more about demand here:
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