Paying close attention to environmental factors leads to potential opportunities for a good marketer. Such factors include market competition, consumer demand, etc.
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What are the factors affecting marketer success?</h3>
The followings are factors affecting marketer success:
- Economic Environment
- Market Competition
- Legal Environment
- Demographic Factors
Thus, there are many other factors that good marketers need to focus on so that they can identify potential opportunities.
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The correct option for The firm enjoys economies of scope.
economies of scope exist if C(Q1, 0) + C(0, Q2) > C (Q1, Q2) (10 + 5Q1) + (10 + 5Q2) > 10 + 5Q1 + 5Q2 - 0.2Q12Q2.
Economies of scope is an economic theory stating that the average total cost of production decrease as a result of increasing the number of different goods produced. For example, a gas station that sells gasoline can sell soda, milk, baked goods, etc.
Economies of scope is a financial precept wherein a commercial enterprise's unit value to supply a product will decline because the form of its products will increase. In different words, the extra one of kind-but-comparable goods you produce, the lower the total cost to provide each one may be.
Your question is incomplete. Please read below for the missing content.
A firm can produce two products with the cost function C(Q1, Q2) = 10 + 5Q1 + 5Q2 - 0.2Q1Q2. The firm enjoys:
A. economies of scale in the two products separately.
B. economies of scope.
C. cost complementarity.
D. economies of scale in the two products separately and cost complementarity.
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Answer:
Internal risk factors of a business include funding the businesses financial need from owner’s personal savings. This will make the business more risky. Another factor is that if a business takes up too many loans from financial institutions such as banks, its going to be highly geared and hence will be risky. Internal human risk factors can include threats of strikes by the workers or by a union.
Independently owned and operated stores that are a member of a wholesaler-sponsored chain have agreed to use the same name, take part in chain promotions, and work together as a single system.
Unlike corporate chains, these are associations of individual retailers. In many nations, voluntary networks of retailers that participate in collective merchandising and bulk purchasing are common. Any retail establishment with two or more locations that is part of a chain and sells the same products under the same ownership. A significant portion of retail activities are carried out by chains in the Americas, western Europe, and Japan. Chain stores constitute the first successful application of large-scale integrated procedures to a form of retailing, together with the department store and the mail-order business.
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