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BlackZzzverrR [31]
2 years ago
13

The overall process of building and maintaining profitable customer relationships by delivering superior customer value and sati

sfaction is referred to as ________.
Business
1 answer:
Yanka [14]2 years ago
4 0

Answer:

customer relationship management

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A third-degree price discriminating monopolist can sell its output either in the local market or on an internet auction site (or
Natasha2012 [34]

Answer:

the firm should have sold less output in the local market, and more output on the internet auction site.

Explanation:

Based on the scenario being described within the question it can be said that in order to maximize profits the firm should have sold less output in the local market, and more output on the internet auction site. This is because marginal revenue indicates the additional revenue that will be generated by increasing product sales by one unit. Therefore since the internet auction site's marginal revenue is higher than the local store, it means that selling more units in the internet site will lead to more profit than the local market.

7 0
3 years ago
Read 2 more answers
1. Based on the above article, if you were an entrepreneur, which sector would fit you the most? Justify your answer by conducti
natita [175]

Answers:

1) As an entrepreneur, I would go the route of providing online fitness services combined with healthy foods that go with specific body types.

Feasibility

Justification: As people become more and more sedentary due to social distancing, a new health problem arises.

The human body was not built to be redundant. I was built for healthy activity. Exercising protects the heart and facilitates blood circulation. The increased blood flow boosts the levels of oxygen in the body.

When this happens, the risk of heart diseases such as high cholesterol, heart attack and coronary artery disease is reduced. Regular exercise can also reduce your blood pressure and the levels of triglycerides.

Exercising without eating properly also translates to serious health problems such as stamina, strength, and weight loss. So, providing consultative services on what to eat and how to eat them and who should eat what is a great complimentary add-on to the health and fitness service.

<em>Who needs the service?</em>

Except for those with serious health issues such as heart conditions, kidney diseases, etc everyone can and should exercise to prevent them becoming overweight.

People who will be able to afford our services going from the above analysis would fall in between middle income to High Net-worth Individuals.  

We will also be looking at businesses who would be interested in purchasing health/wellness programs such as ours for their staff.

<em>Why will they buy?</em>

We'd be providing continuous health tips, great eating habits and foods which are medicinal when eaten rightly.

Besides the cost of subscribing to our services and the cost of the recommended food types, and perhaps data subscriptions (which most already have) there is no other cost involved. There won't be a need for gymnastics equipment because our method of fitness training does not require such. It depends on the use of the body's weight. This is called Callisthenics.

<em>Our Unique Selling Point</em>

We will have in our employment, nutritionists with whom they can consult on the go depending on the type of subscription they opt for.

We will also have dedicated customer care personnel whose job will be to motivate and encourage clients towards their health and fitness goals

We will also have psychologists who will help people with body insecurity needs depending on which package they sign up for.

Assuming we charge a total market of 20 Million Americans who will sign up and pay $10 every month, that comes to two hundred million USD annually.  

We also charge for specialised services using the normal wage rates but not more than $10 per hour. This is to ensure that everyone buys into the program. 40% of our revenue will go into operational expenses including lump-sum payments monthly depending on initial sales.

Given the draft feasibility above, the company stands to make at least 60% of its income as profit when the market is fully developed and that comes to about $ 120 Million.

Besides investing in our staff, we'd invest in a great digital camera, mini studio and ancillary equipment for pre-recorded training.

2. Porter's 5 forces are:

  • The risk of new players
  • The risk of substitute products
  • Power of suppliers
  • Power of customers
  • Industry Competition

 

The risk of new players entering the market is significant. It all depends on the quality of expertise one is bringing on board. Many of our trainers are going to be people with many years of experience, sound academic qualifications and great results.  

The risk of substitute products /services.  As already stated above, our well-experienced trainers will have a profile that is difficult to surpass.

The risk of suppliers usurping our model is very low. We plan to build our network to gain very quickly loads and loads of followers in their millions such that we become a great platform for suppliers of vitamin supplements, healthy packaged food products etc to sell their goods.  

Customers are always king. They hold the key to the business. That is why we will have highly trained, kind, professional, customer care personnel to cater to the needs of our clients.

Industry Competition: This is to be expected. To win the competition, we will adopt the differentiation strategy, and cost focus strategy while delivering quality care.

3. Given the above, I strongly believe that it is possible to enter with a niche strategy. There were loads of chat services which entered the market when it looked saturated but have now broken through. Our strategy in terms of pricing will be crafted such that it fits our market entry model.

4. At the time of writing this, I definitely would consider launching a business in this sector. The opportunities are enormous. It is a global market which requires specialised training. Total cost of set-up is on the low side and potential profit is very high.

Cheers!  

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6 0
3 years ago
Sarasota Company has a balance of $2,200 in Allowance for Doubtful Accounts before adjustment. The estimated uncollectibles unde
andrew-mc [135]

Answer:

Debit : Allowance for doubtful debts = $2900

Credit : Accounts receivables = $2900

Explanation:

An account for allowance for doubtful debts is a contra account created, predicting that certain debtors will not be able to pay for the goods and services they purchased. This may be based on historical experiences. Doubtful debts aren’t officially uncollectible, it is simply an estimation made, but bad debts are, where you have officially written off a certain accounts receivable as uncollectible.

An allowance for doubtful debts is recorded in the balance sheet, directly under accounts receivables. Bad debts are recorded as an expense in the income statement. When there is an allowance for doubtful debts, the bad debts account is debited and the allowance for doubtful debts account is credited.

According to the question, the balance was $2,200 (Cr) in the allowance for doubtful debts account. The initial expected amount for allowance for doubtful debts was $5100 (Cr). This means that the difference was the amount that was declared as uncollectible and officially written off i.e. bad debts. Thus $2900 ($5100 -$2200) would have been confirmed as bad debts.

The entry to record the above transaction is:

Debit : Allowance for doubtful debts = $2900

Credit : Accounts receivables = $2900

5 0
3 years ago
Describe a real or made up but realistic example of a time when you might apply for a loan.
kicyunya [14]
Well people apply for loans when they need money for a certain goal. Like in the movie fantastic beasts and where to find them in the first part they are at a bank. The guy in their tries to get a loan so he can start a company as an entrepreneur. He wants to be able to own his own bakery so he could make cookies cakes and several other designs. Another reason people get loans is when their business is failing. Like the macys owner in the Florida Oviedo town mall took a few loans to help start up the company and pay to own the store their.  But it recently closed. Those are two examples of when people took a loan to either start or continue a buisness when money was short.
3 0
3 years ago
find the selling price per pound of a coffee mixture made from 8 pounds of coffee that sells fo $9.20 per pound and 12 pounds of
elena-14-01-66 [18.8K]

Answer:

$6.98 per pound

Explanation:

The computation of the selling price per pound is shown below:

As we know that

8 pounds of coffee sells for $9.20 per pound which equal to

= 8 pounds × $9.20 per pound

= $73.6

And, 12 pounds of coffee is for $5.50 per pound which equal to

= 12 pounds × $5.50 per pound

= $66

The total value would be

= $73.6 + $66

= $139.60

And, the total number of pounds would be

= 8 pound + 12 pound

= 20 pounds

And we assume the selling price per pound be X

So, the equation would be

$139.60 = 20 pounds × X

So, X would be

= $139.60 ÷ 20 pounds

= $6.98 per pound

4 0
3 years ago
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