Answer:
5 times
Explanation:
Marketing is a very important aspect of any business as it is one of the factors that dictates the sales/profit making of a product. Sales can be a existing or new customers or both as the aim of marketing is to get products sold.
Acquiring a new customer in any business usually or more often than not, requires five times the cos of keeping an existing customer. This is because an existing customer is more likely to buy a product compared toa new customer as there is little or no convincing to do. Just the suggestion of the product to an existing customer is sometimes enough for he/she to purchase.
When customer retention is increased by 5%, profits can go from 25% to as much as 95%. This leaves the success rate of selling to an existing customer at 60%-70% while for a new customer is 5%-25%.
Cheers.
Answer:
$315,000
Explanation:
Overhead estimate per vase = Budgeted overhead/ Budget vases
= $420,000/ 40,000 vases
= $10.5 per vase
Number of vases produced = Total direct labor hours/ Labor hours per unit
= 60,000/ 2
= 30,000 vases
Overhead costs = Overhead cost per unit X number of vases
= $10.5 X 30,000
= $315,000
Therefore, overhead cost to be allocated to Work-in- Progress inventory is $315,000.
Answer:
The answer is $67807
Explanation:
we want to find minimal annual savings we will therefore use financial calculator. for figures we do not have ie: I/YR interest and PMT payment we will compute 0 for those figures. the explanation is below in an attachment
Answer:
b. hire a management team with expertise in complementary areas.
Explanation:
Yes, at this very time, it has become very hard for the Vicenzo to handle his company by himself due to the growth of the company, which is definitely a good business sign which needs to tacked well. He should go for hiring a management team which should have different expertise. He should first make different departments in the company such as, marketing department, finance department, human resource department, procurement department, production department etc. Then afterwards, he should hire the suitable persons for each department. He should start by hiring HR department's people first because they can help him in the future hiring and human resource related tasks.
Lisa's Pizza is trying to compete with the larger Domino's Pizza down the street for customers. Lisa here is trying to practice operations management.
More about operations management:
Operations management is a branch of management that focuses on planning, organising, and redesigning the production process for goods or services as well as business operations.
The management of business procedures to achieve the best level of productivity within an organisation is known as operations management (OM). In order to increase an organization's profit, it is concerned with transforming resources like labour and materials into products and services as effectively as feasible.
Teams in charge of operations management strive to produce the maximum net operational profit by balancing costs and revenues.
Learn more about Operations management here:
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