The firms may need to focus additional effort on retention strategies.
Retention strategies are means employed by firms to retain their customers both new and existing, over some specified period.
Where a company has high customer retention, it means customers would continue to patronize the company's products and not not defect to another product or business.
Customer retention process starts with the first point of contact in an organization and spread through the whole duration of the customer's relationship with the organization.
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Answer and explanation:
In the corporate world, outside or external financing resources refer to all the sources from where a business can obtain the necessary capital to handle its operations without using the firm's assets. Common examples of external financing resources are:
- Venture Capitals:<em> funding performed at an initial stage of companies after making research on the market and the company.
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- Term loans:<em> provided by financial institutions that profit from the interest rate established in the loan or assets as collateral in case of payment failure.
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- Debt Factoring:<em> short-term financing in which an organization sells its account receivables at a discount.</em>
Answer:
$60
Explanation:
According to information on your question. We are to note that an absence or reduction of suppliers could lead to lower supply.
As in this case, the producer supply loss of $60 was incurred as some sellers dropped out of the market as a result of the tax.
Answer:
Sales 950,000
Less: Relevant cost:
Variable expenses 380,000
Avoidable fixed manufacturing expenses 217,000
Avoidable fixed selling and administrative expenses 178,000
Contribution 175,000
The total profit of Furrow Corporation reduces by $175,000 if the product is discontinued.
Explanation:
In this question, there is need to determine contribution, which is the excess of sales over relevant costs. Relevant costs are comprised of variable cost and avoidable fixed costs. The product should not be discontinued since the contribution is positive. Deleting a product with positive contribution reduces the total profit of the company by the amount of positive contribution.
The probability of event B given that event A has already occurred is known as a CONDITIONAL PROBABILITY.
Conditional probability is written mathematically as: P[B/A], where P stands for probability.
Event A and B can be dependent or independent and this will have effect on the general formula of conditional probability, that is, the formula will change in form depending on the relationship between the two events.
