Answer: Incremental innovation ( answer for both the blanks)
Explanation: In simple words, incremental innovation refers to the process under which small improvement are made to the current practices of business. Such improvements through innovation results in better products and services offerings.
Such small changes however occur in large volumes and can easily revolutionize any industry.
The agreement stage incorporates four key problem-solving steps. Each is briefly described below:
- Brainstorm as many solutions as possible: in the first step, several possible solutions to a problem are analyzed so that the best optimal solution can be considered.
- Develop an action plan: in this stage, a comprehensive plan is developed in which tasks are assigned to respective individuals with the resources to be used and the required amount of time to complete the tasks.
- Implement the action plan: this is the execution phase where the actual implementation of tasks is performed based on the requirements mentioned in the action plan.
- Evaluate outcomes and the process: this is the last step in which generated results and outcomes are evaluated to check if they are implemented as intended.
You can learn more about problem-solving steps at
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Answer:
The amount received in cash is $2,328
Explanation:
The amount which is received in cash is computed as:
On January 20, the amount of $600 goods returns from customer, so the remaining balance is
= $3,000 - $600
= $2,400
On the remaining balance, the discount which is evaluated as the payment is received within the discount period which is January 25. So,
= $2,400 x (100% - 3%)
= $ 2,400 x 97%
= $ 2,328
Answer: the marketing costs of reaching loyal customers are typically very high
Explanation:
Brand loyalty is when a customer buys a product repeatedly from thesame company rather than buying a substitute from another company. Despite the efforts of the competitors to life them away, such customers are devoted to the product.
It should be noted that the marketing costs of reaching loyal customers are typically low. They hardly need any source of encouragement or advertisement to convince them to make their purchases.
