The correct answer is B. To plan effective strategies and specific tactics to accomplish the strategic objectives
Explanation:
The purpose of a situation analysis is to understand deeply a business strengths, potential for growth, areas to improve, among others. Additionally, a business analysis is an important step in a marketing plan that is used for businesses to set and achieve goals according to their situation. In this context, after the situation analysis, the next step is to set goals for the business and then to decide on the strategies and tactics that will be used because without specific strategies it would not be possible to achieve the proposed goals.
Also, after the strategies have been implemented you can evaluate the results or implementation and conduct another situation analysis to verify the business grew or there was an improvement. Thus, the next step after setting goals is "To plan effective strategies and specific tactics to accomplish the strategic objectives."
Answer:
Build and maintain long term relationship
Explanation:
A good way to manage the cost of acquiring a new customer is by building and maintaining a long term relationship with customers as this helps in winning their loyalty .
With this, a particular customer can keep patronizing you for a long period of time . This means that after the initial cost of acquiring the customer , the major expenses in respect of the customer is just the service cost , which is much smaller compared to the cost of acquiring a new customer.
The assertion is untrue. According to the 80/20 rule, even in times of limited resources, a company should make all efforts to produce 100% of its potential result on a particular topic.
<h3>What is implied by the 80/20 rule?</h3>
According to the Pareto principle, 20% of causes account for about 80% of the consequences for many outcomes. In other words, only a small proportion of causes result in disproportionate effects. Understanding this idea is crucial because it will enable you to decide which projects to prioritize in order to have the biggest impact.
The Pareto Principle in business describes how only 20% of a company's customers typically account for 80% of its revenue. Business owners who follow the 80/20 rule are aware that concentrating their marketing efforts on the top 20 percent will yield the best results.
One of the best ideas for time and life management is the 80/20 rule. This guideline, also referred to as the Pareto Principle, states that 80% of your results will be accounted for by 20% of your actions.
Learn more about 80/20 rule: brainly.com/question/28080786
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Answer:
Perfect Competition meaning & equilibrium condition. Explanation of various cases when Q can be either options.
Explanation:
Perfect Competition market is a market with many buyers & sellers, selling homogeneous products, at identical prices.
Perfect competition firm is at equilibrium, when : Marginal Revenue (MR), ie same as Price (P) = Marginal Cost (MC)
- Suppose TC = 100 + Q^2 , P = 60
Then MC = 2Q . Equalising MC & P, Q = 60 / 2 = <u>30 </u>
- Suppose TC = 100 + Q^2 , P = 80
Then MC = 2Q. Equalising MC & P , Q = 80/2 = <u>40 </u>
- Suppose TC = 100 + Q^2 , P = 100
Then MC = 2. Equalising MC & P, Q = 100/2 = <u>50 </u>
- Suppose TC = 100 + Q^2 , P = 120
Then MC = 2Q. Equalising MC & P, Q = 120 / 2 = <u>60 </u>