Answer:
a. the rapid development of the Internet's capabilities.
Explanation:
It is increasingly difficult for a firm to develop and sustain a competitive advantage because of the effects of globalization and the rapid development of the Internet's capabilities.
Globalization can be defined as the process of developing technology, people, investments, informations, products in order to create international influences across cultures and national markets or borders. This makes it possible for various multinational enterprise or companies to break into different markets across world and compete effectively with other companies.
Also, the rapid development of the Internet's capabilities gives various companies the ability and privilege to technology and software applications to seamlessly meet the needs of customers over the web such as cloud computing services, Internet of things (IoT) etc.
Increasing market power allows firms to raise prices and not lose customers. This is a way to increase revenues without increasing cost.
Answer:
Alpha
Beta
Delta
Epsilon
Zeta
Explanation:
The customers list should be updated and sorted periodically to identify regular customers and those customers with big orders. There are many customers in the list and the list is not sorted according to alphabetical order. Those customers which account for more than or at least 5% of total trade are Alpha, Beta, Delta, Epsilon and Zeta. These are place first in list among other customers.
Answer: 1. The core benefit
2. Expected product
Explanation:
Product Levels model indicates the degree to which certain products and services meet the expectations of customers. There are basically five product levels models which include; Core benefit, Generic product, Expected product, Augmented product, and Potential product.
The two product levels model Carrie experienced in her purchase of the Nikon 7576, and Monarch 5 are;
a. The core benefit: A product meets the core benefit when it meets the needs of the customer. The two products purchased by Carrie satisfy her basic need of binoculars that would enable her to observe wildlife from a distance.
b. Expected Product: This is factored when the product features meets the expectation of the customer. In Carrie's case, she liked the feel and features of these devices and this implies that they met her expectations.
Answer:
-4.3; inelastic
Explanation:
Initial price = $6.45
Initial quantity demanded = 600
New price = $6.95
New quantity demanded = 400
Percentage change in Quantity demanded:
= (Change in quantity demanded ÷ Initial quantity demanded) × 100
= [(400 - 600) ÷ 600] × 100
= (-200 ÷ 600) × 100
= 0.3333 × 100
= -33.33%
Percentage change in price:
= (Change in price ÷ Initial price) × 100
= [($6.95 - $6.45) ÷ $6.45] × 100
= ($0.5 ÷ $6.45) × 100
= 0.0775 × 100
= 7.75%
Therefore, the price elasticity of demand is as follows:
= Percentage change in quantity demanded ÷ Percentage change in price
= -33.33 ÷ 7.75
= -4.3
Hence, the price elasticity of demand is inelastic.
