Maybe a product didn’t work out, a bad review from a customer or client, health inspections didn’t pass etc..
Answer:
The correct answer is option a.
Explanation:
The willingness to pay for a product can be defined as the maximum amount an individual is willing to procure or obtain a product. The price of a product lies between a consumer's willingness to pay and a seller's willingness to accept.
The willingness to accept is the minimum amount a seller is willing to accept to let go of a product. Willingness to pay indicates how valuable good is for the buyer.
Answer:
Profit concept explanation, with example of a coaching institute.
Explanation:
The business considered is of a coaching institute.
Its revenue is the fee earned by students studying in the institute.
The cost is fixed cost of set up, variable cost on electricity, mantainence & other miscellaneous expenses.
Profit = Total Fee received from all the students - Total cost of fixed & variable factors.
Eg : Fee per student = 1000, 10 students. Fixed cost = 2000, Variable cost = 1000
Profit = 1000 (10) - 2000 - 1000
= 10000 - 3000 = 7000
Answer:
D. Business Level strategy
Explanation:
Business level strategy is a plan that involves providing value to customers while also gaining competitive advantage in specific industry. They are definitive plans and actions put in place to attain and satisfy customers by offering goods and services that meet their needs whole also gaining competitive advantage by exploiting core competencies in specific industries or products/service market. In this scenario, business level strategy helps find answers to leadership focused on promoting the company as offering the highest quality, other leadership focused on lowering prices to attract customers and the team working on strategic management to compete against its rivals within the same industry and product category.
Names, adresses, phone numbers, and places
