Complete Question: Many banks and phone companies now charge fees for once-free services to ensure minimum customer revenue levels. This helps the banks to ________.
A) reduce the rate of customer defection
B) make low-profit customers more profitable
C) enhance the growth potential for each customer through cross-selling
D) increase the longevity of the customer relationship
E) focus disproportionate effort on high-value customers
Answer:
B) make low-profit customers more profitable
Explanation:
Many banks and phone companies now charge fees for once-free services to ensure minimum customer revenue levels. This helps the banks to make low profit customers more profitable.
The basic logic behind this strategy is that when customers find something coming free, then they start taking it for granted, they don't pay much attention to it, therefore, when the some services are free, customers will not be spending much on them, like upgrading, monthly plan up-gradations, monthly or annual subscriptions. Consequently, to turn the those customers into highly valuable customers, companies charge for the services which were free of cost in the past.
Answer:
1. Meena should take the quantity discount since with such discount the EOQ will rise by just 1 unit from 20.5units to 21.5 units and a net gain of $49.18.
2. The EOQ without discount will be 20.5 units
Explanation:
EOQ=Square root of ((2xordering cost x demand)/ (Carrying cost))
Gains of accepting discount will be
i. ordering cost savings= (demand/quantity order) x ordering cost
= (660/360)*23=$42.16
ii. Price saving per item=0.18 x 660 =$118.80
total gain =$160.96
iii. Stockholding cost =300 x (23 x 0.91 ) x 0.18=$1,130.22
iv. Additional cost incurred by increasing order= 1,130.22-(300 x 23 x0.18)
=$111.78
Net gain= 160.96-111.78
= $49.18
Answer with Explanation:
The pressure changed a lot when I became a leader. I was expected to supervise my group members and assign them the tasks they have to perform. I gave them a<u><em> sense of direction</em></u>, particularly, towards the group's goal. I was<em> pressured to meet the targets expected from us</em>, and I always put my effort at its best for<u><em> fear of failing or becoming a failure to the group</em></u>. I needed to do things in a <em>calm fashion</em>, so I could inspire my members and be a better role model for them.
When I was just a<em> supporting member,</em> I didn't really mind about which direction my group should take, so the pressure from stress wasn't a big deal. I was very laid back because I just needed to perform what was asked of me by our leader. No one was constantly looking upon me, thus, I didn't feel like I really needed to do my best.
Answer:
c. Loan Estimate
Explanation:
The loan estimate has replaced the Good Faith Estimate in 2015. Both documents are given by the mortgage lender to the consumer. The main purpose of the documents is for the customer to compare different offers from different lenders.
The main difference is that the loan estimate form is more comprehensive and understandable for the customers.
Answer:
B. An oligopoly
Explanation:
An oligopoly is characterised by a few firms operating in an industry. The babysitters came together to set price in collusion. Collusion is a characteristic of an oligopoly.
Also the babysitters set the market price for their goods. This is a characteristic of an oligopoly.
A purely competitive industry is when there are many buyers and sellers of homogenous goods and services. Firms are price takers. They have no influence over the market price. Price is set by the forces of demand and supply.
A monopoly is when there is only one firm operating in an industry.
A monopolistic competition is when there are many buyers and sellers of differentiated goods. Firms set the market price of their good.
I hope my answer helps you
