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anzhelika [568]
3 years ago
12

Trader Joe's is an American chain of grocery stores headquartered in Monrovia, California. Trader Joe's creates a competitive ad

vantage by its ability to incorporate upscale or attractive attributes into its product offerings at lower costs than rivals. What business strategy is Trader Joe's using to gain its competitive advantage
Business
1 answer:
Goryan [66]3 years ago
4 0

Answer:

Differentiation focus strategy

Explanation:

Competitive advantage is defined as the factors or strategy that gives a firm an edge over others in the same industry.

They are able to sell more product and make more profit than their competitors.

Trader Joe's creates a competitive advantage by its ability to incorporate upscale or attractive attributes into its product offerings at lower costs than rivals.

They are using differentiation focus strategy which entails developing a unique product based on selected attributes that are widely valued by customers.

Focus is given to making products that specifically meet these needs.

The result is a product that is unique in the industry. Products from Trader Joe's can't be found anywhere else. Also they provide a unique atmosphere and unique interaction with their staff.

They have been able to have reduced pricing through research and other tactics aimed at reducing cost of production in a sustainable manner.

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Luci has worked as a customer service representative for two years. She believes that this job has improved her ability to cope
vichka [17]

Answer:

<em><u>Self-efficacy.</u></em>

Explanation:

Self-efficacy at work is a personality trait that impacts the attitude employees will take when performing challenges and tasks in an organization.

When the level of self-efficacy is high, employees are self-motivated to commit more and more deeply to their work, setting goals and objectives to achieve complex tasks, which are seen as results of personal effort and overcoming.

7 0
3 years ago
Self-interest helps achieve society's economic goals because as consumers and producers exercise their ____ to act in their own
aleksklad [387]

Answer:

Self-interest helps achieve society's economic goals because as consumers and producers exercise their<u> freedom</u> to act in their own self-interest markets will produce the desired goods at the<u> lowest </u>possible cost.

5 0
3 years ago
Business collected S6,600 rent in advance on July 1. Accountant record the journal entry for this collected amount on July 1. Th
suter [353]

Answer:

This is correct

Explanation:

There will be two entries. One at the time of receiving cash on 1st July . That would be

Cash. B. $6600 (debit)

Unearned Rent Revenue. $ 6600 (credit)

On 31st Dec an adjusting entry would be made . The rent for 6 months will be calculated which will be as given above.

Rent for 6 months = ( 6,600/12 )* 6= $ 3,300

The entry will be

Unearned Rent Revenue $3,300 (debit)

Rent Revenue $ 3,300 (credit)

$ 3300 will be deducted from the current liabilities on the credit side.

Rent Revenue of $3300 will be added on the credit side of the income statement.

3 0
3 years ago
Asper Corporation has provided the following data for February. Denominator level of activity 7,700 machine-hours Budgeted fixed
Brrunno [24]

Answer:

Asper Corporation has provided the following data for February. Denominator level of activity 7,700 machine-hours Budgeted fixed manufacturing overhead costs $ 266,420 Fixed component of the predetermined overhead rate $ 34.60 per machine-hour Actual level of activity 7,900 machine-hours Standard machine-hours allowed for the actual output 8,200 machine-hours Actual fixed manufacturing overhead costs $ 259,960 The budget variance for February is $6,460 Favorable.

Explanation:

Budgeted fixed manufacturing overhead cost = $266,420.

Actual fixed manufacturing overhead costs  = $259,960

The budget variance for February is calculated as below:

Budget Variance = Actual Fixed Manufacturing Overheads - Budgeted Fixed Manufacturing Overheads

Budget Variance =$259,960 - $ 266,420.

Budget Variance = -$6,460

Budget Variance = $6,460 Favorable

7 0
3 years ago
When budgeting for your immediate needs, you should divide them into what two categories of expenses
Usimov [2.4K]
Fixed expenses and flexible expenses or Discretionary expenses
5 0
3 years ago
Read 2 more answers
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