The new product development approach is intuit using the customer-centered new product development. It is defined as when the companies directly engage their customers. They will go out to the customer and ask questions and receive customer opinions. Chang Wook goes out to job sites and talks to workers. This approach has twice the return on assets and triples the growth than if you didn’t do the research
Answer:
b. demand-side market failure.
Explanation:
Demand-side market failure occurs when suppliers aren't able to charge consumers prices for goods and services.
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Explanation:
1. Buy insurance: Though insurance is an expenses, it safe guards you and yours business from huge loss.
2. Income from multiple sources: Always do not depend on single income. Make sure that income comes from multiple sources so that you can make your business alive.
3. Have a savings: Entrepreneurs should save money as how much as they can. We cannot know when there will be a profit and when there is a loss. We can only forecast to a particular extent.
4. Limits on Loan: Keep your loans manageable: Do not step into huge loans where it will be difficult for you to manage when there is a sudden lose.
Answer:
The total revenue is likely to increase.
Explanation:
If the proportionate change in quantity demanded is smaller than the proportionate change in quantity, it implies that the price elasticity of demand is relativity inelastic.
In this situation, if the company increases the price of the product, the decline in quantity demanded due to the increase in price will be less than proportionate.
So it is likely that the total revenue from sales will increase because of the increase in price.
Answer:
b. Somaya just launched an online shoe company
d. A publishing company sells health-based curricula.
Explanation:
Pure goods are goods that are not associated with any services.
Pure services are services not associated with any physical goods.
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