Savings account is what would go in the blank.
Answer:
For Number of firms, the answer is C. Many.
For type of product, the answer is D. Differential.
For Market model, the answer is C. Monopolistic Competition.
Explanation:
From the questions above, we can conclude that the number of firms is Many because it is stated that there are hundreds of colleges and universities that serve millions of college students each year.
For the type of product, in this case service, that each college and university offers, there is service differentiation. This is because each school will offer unique and distinct ways of meeting the students' needs.
There exists monopolistic competition in markets which have several competitors selling similar products and services. The similar products and services are not ideal substitutes for each other in monopolistic competition. Here, the barriers to entry and exit in the industry are low, and the decisions that are taken by one company do not affect the competitors. Therefore, in the scenario given above, because there are several colleges and universities serving millions of students in similar ways but with differentiated methodologies and programs, they form a monopolistic competitive market.
Answer:
The supply of Nigeria cocoa nibs will increase this year.
Explanation:
last year Nigeria supplied at $9 per 10 pounds but this year its supplying at $12 per pounds, this means that the Nigerian nibs quantity will have to increase to cover up for the demand of its goods.
Answer:
C) Channel capabilities and costs
Explanation:
the four forces for mapping industry channels are:
- customer wants and needs
: provide as much customer value as cheaply as possible
- channel capabilities and costs: how can we (or the members of our distribution channel) provide value to our customers
- channel power and influence: what company holds the power to influence other companies in the distribution channel
- competitive postures and actions: how can our competitor deliver value
Answer:
Yes, a sales representative can translate his skills into being a buyer
Explanation:
A sales representative is one who completes a sale of a product in a direct or face to face interaction with the buyer.
Skills of a good sales representative includes:
1. Product knowledge
2. Strategic prospecting skills
3. Active listening
4. Communication
5. Good time management
A sales representative can convert all these skills listed above into becoming a better judge of a product as a buyer and in relation with other sales representatives.
One of the challenging thing about the shift would be the ability to trust another sales representative's words about a product or service.
The skill that would translate seamlessly would be product knowledge because if a sales rep already have a good knowledge of a product before it would greatly enhance his choices when choosing one for himself.
