It is true that When employees strive to see things from the customer's viewpoint, it helps the business build positive customer/client relations because the employees.
What is the benefit derived When employees strive to see things from the customer's viewpoint?The benefit derived When employees strive to see things from the customer's viewpoint is that it will help them to have a good relationship between the consumer as well as the employee.
And it should be noted that when there is a good relationship between the consumer as well as the employees, the firm will be able to get a detailed as well as honest feedback from those customers and with all these feedbacks the firm will be able to use the feedback to improve the products as well as he services that is been produced by the company so that tthe company can make more profits as a result of the continual patronzation of the costomers.
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TRUE/FALSE When employees strive to see things from the customer's viewpoint, it helps the business build positive customer/client relations because the employees
describing, recommending, showing and offering a variety of food and beverage choices to a guest is known as a. order taking b. sales competition c. suggestive selling d. hard selling e. serving
Describing, recommending, showing and offering a variety of food and beverage choices to a guest is known as suggestive selling.
What is suggestive selling?
A sales tactic known as "suggestive selling," "add-on selling," or "upselling" is when a worker asks a customer if they want to include an additional purchase or suggests a product that might work for them.The client's purchase amount and the company's revenue are both boosted by suggestive selling.Frequently, the additional sale is a complementary product and much smaller than the initial purchase.
The method is based on the idea that it requires little effort when compared to the potential for additional revenue.This is due to the fact that the difficult task of convincing the buyer to buy has already been accomplished.An additional sale that is significantly less than the initial purchase is much more likely to occur once the buyer has committed.
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leonard oil refiners inc. needs to borrow $1 million overnight and is willing to secure the loan with a portfolio of securities that the borrower will repurchase tomorrow at a higher price. this is an example of a(n):
Based on the fact that Leonard oil refiners inc. needs to borrow $1 million overnight and is willing to secure the loan with a portfolio of securities and the borrower will repurchase tomorrow at a higher price. this is an example of a repurchase agreement
What is a Repurchase Agreement?This refers to the type of agreement that is made between a dealer and investors and is a short-term borrowing usually in government securities that usually leads to repurchase the item at a higher price.
Hence, we can see that the given question is a perfect example of this repurchase agreement as the company, Leonard oil refiners inc. needs to borrow $1 million overnight and trades their securities.
With this in mind, the correct answer is a repurchase agreement
In conclusion, it can be seen that to secure the loan with a portfolio of securities that the borrower will repurchase tomorrow at a higher price. this is an example of a repurchase agreement
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a firm wants to use an option to hedge 12.5 million in receivables from new zealand firms. the premium is $.03. the exercise price is $.55. if the option is exercised, what is the total amount of dollars received (after accounting for the premium paid)? group of answer choices
The total amount of dollars received (after accounting for the premium paid) is equals to $6,500,000. A forward premium can be defined as a situation in which the forward or expected future price for a currency is greater than the spot price.
In economy, a forward premium can be defined as a frequently measured as the difference between the forward rate and the current spot rate. Forward premium is equivalent to a discount when a forward premium is negative.
Dollars received from exercising option = $12.5 million x $.55 = $6,875,000.
Premium paid for options = $12.5 million x $.03 = $375,000.
Amount of dollars received minus premium = $6,500,000.
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which of the following is true of organizations that practice a performance-driven approach? question 24 options: employee rewards vary significantly from person to person and are not based on individual performance. performance appraisal activities are not valued by managers and employees and are often viewed as a bureaucratic exercise. employee rewards are standardized irrespective of job duties. performance evaluations link results to employee compensation and development.
A true statement on the organizations that practice a performance-driven approach is that performance evaluations link results to employee compensation and development.
What is the performance driven-approach?The performance driven approach refers to an approach that some companies use where employees are rewarded based on how much work they put into the company in a certain period, or how much activity can be traced to them.
The performance-driven approach is used by companies that prioritize the production of goods and services in higher quantities so that they can be able to sell more of their goods or service. The way that the performance of an employee is linked to them is through performance evaluations. Based on the result of these evaluations, employee compensation and their development and promotion in the company is determined.
In conclusion, the performance driven approach, relies on performance evaluations.
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rebecca siddoway own and operate country candies. siddoway specializes in making rich, creamy toffees that she packages in attractive gift boxes and sells through the mail. what would be the advantage to siddoway if she decides to incorporate her business?
The benefit for Sideway if she decides to incorporate her business is that
corporations have an expanded potential to acquire financing.
A company is a legitimate entity that exists independently of its owners. Many of the same legal rights and obligations that apply to individuals financing also corporations apply to businesses. They have legal authority to make agreements, lend and borrow money, file lawsuits, hire staff, possess property, and pay taxes.
The majority of big companies are corporations, such Some businesses operate both under corporations their own names and under several trade names, such as financing illustrious parent company, Alphabet Inc.
When a group of shareholders incorporates a business with the intention of pursuing a common objective, they each hold stock shares corporations that reflect a portion of the corporation's ownership.
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the income effect, the substitution effect, and diminishing marginal utility together explain: multiple choice question. the importance of prices. how markets function. why demand curves are downward-sloping. why demand curves exist.
The income effect, the substitution effect, and diminishing marginal utility together explain why demand curves are downward-sloping.
A consumer's increased enjoyment from owning one extra unit of a good or service is known as marginal utility. Economists utilize the idea of marginal utility to estimate how much of a given good buyers are willing to buy. When a product's price increases, consumers may switch to less expensive substitutes, which results in a decline in sales. The income effect and the substitution effect are the two factors that affect how much a consumer will desire of a commodity when its price changes. The Hicks substitution effect makes the new point of tangency and the old bundle different from one another.
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An automobile salesperson uses ________ when it accesses a mobile system to obtain the latest information on consumer demand for electric vehicles.
An automobile salesperson uses market place or social media when it accesses a mobile system to obtain the latest information on consumer demand for electric vehicles.
Social media are used by some businesses for increasing their brand awareness, others use it for driving website traffic and sales. Social media can help you generate engagement around your brand, create a community, and serve as a customer support channel for your customers.
Social media can help you to connect to your customers, increase your online traffic, improve your customer-brand relationship, and establishes your credibility.
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an policy that insures the title received by the grantee against deficiencies that may have been in existence at the time the title was transferred is known as
A title opinion is an insurance that protects the grantee's title against any potential flaws that may have existed at the time the title was transferred.
Write a note on title opinion.Title opinions are intended to positively guarantee two things with regard to commercial loans:
that an owner/borrower has good title to a property; and that the lender has a good and valid mortgage charging the property.It is necessary to hire a lawyer to analyze the property's title and to conduct (and review) in-depth research on the title as well as any off-title issues that might affect a lender's security position. The attorney will provide a "title opinion" after reviewing the document, supposing no serious flaws were discovered, which will affirm the guarantees mentioned above.
Unfortunately, title opinions are not infallible, which means that mistakes could occur. When a loan defaults after closing and an issue with the owner's title or the lender's mortgage occurs when the lender tries to enforce its security through the mortgage, the lender may turn to the attorney and ask that the issue be resolved. However, unless the issue can be resolved quickly, the lender and the lawyer may find themselves in a contentious situation. If this happens, the lender may need to file a lawsuit against their (now-former) lawyer in order to demonstrate negligence and recover any losses brought on by the error or omission on their part.
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The complete question is mentioned below :
A policy that insures the title received by the grantee against deficiencies that may have been in existence at the time the title was transferred is known as
a. real property insurance
b. title insurance
c. title opinion
d. deed insurance
the international monetary system went through several distinct stages of evolution. these stages are summarized, in alphabetic order, as follows: (i) bimetallism (ii) bretton woods system (iii) classical gold standard (iv) flexible exchange rate regime (v) interwar period the chronological order that they actually occurred is:
The development of the global monetary system has gone through four periods or stages: Golden Rule (1875-1914) Interwar years (1915-1944) System of Bretton Woods (1945-1972).
What stages has the global monetary system gone through?
The four stages of the development of the international monetary system are as follows: the gold standard (1880–1914); the gold exchange standard (1925–1933); the Bretton Woods system (1944–1971); and the Jamaica system, commonly referred to as the variable exchange rate system (1976–present)
How was the global monetary system established?
In July 1944, representatives from 44 nations met in Bretton Woods, New Hampshire, to create a new global monetary system. At the meeting, participants decided to launch the World Bank Group and the International Monetary Fund.
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use this information for best corporation: the contribution margin ratio is 30% for the and the break-even point in sales is $150,000. if the company's target net operating income is $60,000, sales would have to be:
If the company's target net operating income is $60,000, the sales would have to be $350,000.
Define sales.The revenues received when a corporation sells its items, products, stuff, etc. are referred to as sales in accounting. The sum paid when a corporation sells a noncurrent asset that was formerly used in its operations (such as an old delivery vehicle, display counters, company car, etc.) is not reported as a sale. It is the quantity of goods and services that a company sells over the course of a reporting period. It is listed at the top of the income statement as a monetary amount, from which operational and other expenses are deducted to determine if a profit or loss was made.
Contribution Margin = 30%
Break even point sales = $150,000
Break even point = Fixed Cost/Contribution Margin
150,000 = x/30%
So Fixed cost x = $45,000
Contribution = Net income + fixed cost
= 60,000+ 45,000
= $105,000
So when contribution is 30% , sales is 100%
sales = 1,05,000/30%
= $350,000
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gthe peak of a business cycle is typically accompanied by: group of answer choices the highest unemployment rate over the cycle the highest rate of increase in the price level over the cycle the lowest output of goods and services over the cycle all of the above
The peak of a business cycle is generally accompanied by 'the highest rate of increase in the price level over the cycle'. Thus, the correct answer option is (b).
A business cycle refers to the repetitive economic changes that take place over time in a country. The business cycle shows the inverse and decrease in the economy over a period. The business cycle can be influenced by the factors such as interest rates, trade, investment, and production costs. Primarily, financial professionals and enterprises measure the business cycle by the influences of trade and production costs and fluctuations in the gross domestic product (GDP).
The peak is the second phase among the four phases of the business cycle. The peak phase is the point right before core economic indicators begin to fall. At the peak of the business cycle, the highest rates of increase in the price level are noticed and businesses can no longer satisfy the demands of consumers.
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determine which statements below are correct regarding merchandise available for sale during a period. (check all that apply.)multiple select question.beginning inventory ending inventory
The statement is correct regarding merchandise available for sale during a period: Beginning inventory + net purchase = merchandise for sale; ending inventory + cost of goods sold = merchandise for sale.
Inventory refers to the stock of merchandise held by a business. It is a crucial part of running a business, as it can affect both your bottom line and your customer satisfaction. The right inventory management system can save businesses time and money and ensure that you have all the supplies and materials
An effective inventory management system is essential for businesses to maintain efficient sale . There are a number of factors to consider when designing an inventory management system, such as the type of goods being stored, the frequency of inventory turnover , and the desired level of accuracy.
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in the stage of the product life cycle, most consumers who would buy the product are either repeat purchaser of the item or have tried and abandoned it, making it more challenging to acquire new customers. multiple choice question. maturity introduction growth competition
In the growth stage of the product lifecycle, most consumers who would buy the product are either repeat purchaser of the item or have tried and abandoned it, making it more challenging to acquire new customers.
Typically, consumers learn about a product during its debut stage in its life cycle. The product has only recently been released, thus commercials are being created to attract new buyers. Customers are learning more about a new good or service and how it can help them during this phase. Product life-cycle management is the progression of business management methods during a product's life-cycle.
The product has gained market acceptance during the expansion growth stage, and clients are starting to really buy in. This indicates that both demand and profitability are increasing, ideally at a steady and quick rate. The market for the product is growing and competition is starting to emerge during the growth stage.
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john smedley, a careful maximizer of utility, consumes only two goods, peanut butter and ice cream. he had just achieved the utility-maximizing solution in his consumption of the two goods when the price of ice cream fell. as he adjusts to this event, he will consume:
As he adjusts to this event, he will consume more peanut butter and less broccoli.
Consumption is an activity that aims to reduce or spend the use value of goods/services to meet needs or direct satisfaction. Those who carry out consumption activities are called consumers. It is these consumers who use goods/services either for their own use or for the benefit of people or other living things that are not for resale.
Consumption has several important functions and roles in economic activity, including the following.
Fulfillment of Human DesiresEconomic ActivitiesSupport Production ActivitiesAnalyzing Individual BehaviorFormulation of the State's EconomyIncome and Employment TheoryYou can learn more about Consumption here brainly.com/question/14933604
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3. it takes the same amount of inventory to operate a single warehouse system as a four warehouse distribution network. true of false? explain your answer.
Operating a single warehouse system requires the same amount of inventory as a four-warehouse distribution network is false.
What is inventory?Raw materials used in production as well as finished products that are offered for sale are both included in the definition of inventory. Inventory is one of a company's most crucial assets because it is one of the main sources of income production and, as a result, a source of profits for the company's shareholders. There are three different categories i.e., finished commodities, work-in-progress, and raw materials constitute inventory. It appears as a current asset on the balance sheet of a business.
Inventory is a crucial asset for any business. It is described as the assortment of raw materials or completed products that a company maintains throughout the normal course of operations.
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a supermarket expects to sell 4000 boxes of sugar in a year. each box costs $2, and there is a fixed delivery charge of $20 per order. if it costs $1 to store a box for a year, what is the order size and how many times a year should the orders be placed to minimize inventory costs?
If it costs $1 to store a box for a year, the order size is 400 units and the number times a year should the orders be placed to minimize inventory costs is 10 times.
Economic order quantity (EOQ)Economic order quantity:
Using this formula to determine the economic order quantity
EOQ = √[2 (setup costs)(demand rate)] / holding costs.
Let plug in the formula
EOQ =√(2× 20× 4000)/1
EOQ = √160,000
EOQ = 400 units
Number of orders:
Number of orders = Annual Demand / EOQ
Number of order = 4000/400
Number of order = 10 times
Therefore the EOQ is 400 units and the number of orders is 10.
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bill buyer and sam seller have entered into a contract. bill has inserted a provision that the contract is contingent upon his selling his home for an acceptable price. what is the status of the contract?
Bill buyer and sam seller have entered into a contract. bill has inserted a provision that the contract is contingent upon his selling his home for an acceptable price, the status of the contract ---The contract may be void because the contingency is too vague.
What are the rules of contingent contracts?A contingent contract might be grounded on the non-happening of an uncertain future event. In similar cases, the pledge is liable to do or not do commodity if the event doesn't be. still, the contract can not be executed by law unless passing of the event becomes insolvable.
What's contingent contract illustration?Contingent Contracts in simple words means these are those contracts where a pledge is tentative and grounded on some passing and non-happening of some uncertain future event, the contract shall perform. The contracts of insurance, guarantee, and insurance are some exemplifications of contingent contracts.
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jerome corporation has fixed costs of $500,000 and a contribution margin ratio of 40%. currently, sales are $3,000,000. what is jerome's margin of safety?
Jerome corporation has fixed costs of $500,000 and a contribution margin ratio of 40%. jerome's margin of safety is
MS=$1,750,000
What are fixed costs?Generally, Fixed costs, also known as indirect costs or overhead expenses, are business expenses that are not dependent on the number of goods or services that are produced by the business. Fixed costs are discussed in accounting and economics.
Other names for fixed costs include indirect costs and overhead costs. They are often expected on a regular basis, such as the payment of rent or interest on a monthly basis. These expenses are also often classified as capital costs.
In conclusion,
Breakeven=Fixed expenses/Contribution margin
Where Breakeven is BE
BE=500,000/0.4
BE=$1250000
The Margin of safety is mathematically given as
MS=Total sales-Breakeven sales
Hence
MS=3,000,000-1250000
MS=$1,750,000
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explain how a technological advancement in one sector of the economy can lead to a change in the number of people who work in another sector of the economy. give an example to help support your answer.
Technological advances in one sector of the economy can lead to a change in the number of people who work in another sector of the economy due to the interconnectedness of the economy.
What is economy?An economy is described as a set of activities like trading of goods, consumption of goods, and production of goods and services in a nation or within a geographical area.
Technological advancement in one sector of an economy causes the other lagging sectors to also progress. For example, when the information technology sector of a region or a country experiences growth, other sectors like schools, healthcare institutions, and training institutes also experience growth, and it also generates employment. The other sectors use advanced technologies to increase productivity and enhance student learning. All the sectors in an economy are connected, and this causes other sectors in an economy to develop as well.
It can be concluded that technological advances in one sector of the economy can lead to a change in the number of people who work in another sector of the economy due to the interconnectedness of the economy.
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Some students cheat because they are not prepared for the test or assignment.
a. True
b. False
Answer:
A:True
Explanation:
Don't call me out like that
if atlantis and zanadu specialize based on comparative advantage and trade, would they be able to gain from trade if the terms of trade are 1 helmet for 3 baseballs? explain.
Assume that Atlantis and Zanadu both manufacture baseballs and helmets. Atlantis can create 1 helmets or 3 baseballs with the same resources, but Zanadu can produce 1 helmets or 6 baseballs.
How are baseball helmets decorated?Players use pine tar, a sticky material, to their bats to lessen bat sliding. When they adjust their batting gloves, the goop gets on them and is then transferred to their helmets. Players like Cabrera who continuously alter their helmets leave more debris on them. (a) While running the bases and at bat, all players are required to wear a protective helmet of some kind. (a) While at bat, every player in National Association Leagues is required to wear a double ear-flap helmet. (c) A single ear-flap helmet is required for all Major League players (or, at the player's discretion, a double ear-flap helmet).
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other things the same, in the open-economy macroeconomic model, if the real exchange rate rises, the a. quantity of dollars demanded falls. b. demand for dollars shifts left. c. quantity of dollars demanded rises. d. demand for dollars shifts right.
(C) the quantity of dollars demanded falls If the real exchange rate rises. It is because these two aspects is related each other.
Exchange Rate generally can be defined as the value of a country's currency versus the currency of another country or economic zone. To determine currency exchange rates in a country, there are two main systems that used, there are floating currencies and also pegged currencies. Floating exchange rate or known as floating is determined by market. In other words, currency is worth whatever the buyer is willing to pay for it. It is determined by supply and demand, which in turn is driven by foreign investment, the import/export ratio, inflation, and a number of other economic factors.
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Jim is wanting to retire in 5 years. He already has a large sum of money built up from consistent saving over time. Which investment option would be the LEAST LIKELY for him to continue purchasing?
A stocksstocks
B bondsbonds
C certificates of depositcertificates of deposit
D mutual funds
As Jim has a large sum of money built up from consistent saving over time, an investment option would be the least likely for him to continue purchasing will be a mutual fund.
What is an investment?In business, an investment refers to an asset or item acquired with the goal of generating income or appreciation. Most time, when someone purchases a goods as an investment, the intention is not to consume its but rather to use it in the future to create wealth.
We have a short and long term investment, mutual funds belong to a short term investment, therefore, the investment option would be the least likely for him to continue purchasing will be a mutual fund.
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the degree of customer contact measures the amount of time the customer is in the service delivery system. none of these choices are correct. the amount of time the customer is separated from the service delivery system. the customization abilities of the service system.
The degree of customer contact measures the amount of time the customer is B. The amount of time the customer is in the service delivery system while the service is being produced.
Fantastic clients are Advocates. High-quality customers, after they surely are becoming exceptional price out of your product, become extra than just glad. They do greater than just references. They provide you with extra than just excessive consumer pleasure marks.
Clients want your services or products to be characteristic of the manner they want with the intention to resolve their problem or preference. Clients have precise budgets with which they can purchase a service or product. Your services or products desire to be a convenient strategy to the characteristic your customers are looking to meet.
These are variables that include the event, the benefit sought, consumer status, consumer charge, loyalty rate, readiness stage, and purchasers' attitude. They include loyalty, value, frequency of purchase, quantity of purchase, time of year, time concerned in buying decision, and where a customer purchases the product.
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18. which of the following is a benefit to running an erp system? a. global integration c. capability to manage operations, not just monitor them b. elimination of updating and repairing multiple systems d. all of the above are benefits
Global integration, The capability to manage operations, not just monitor them, Elimination of updating and repairing multiple systems all are the benefit of running an ERP system. Hence, all of the above is the correct answer.
What is an ERP system?ERP is the integrated management of significant corporate processes, which is typically done in real-time and is mediated by software and technology. ERP is a type of business management software—typically a suite of linked applications—that a company may use to gather, store, manage and interpret data from various business operations. ERP solutions can be either local or cloud-based. Cloud-based apps have risen in popularity in recent years as a result of the information being easily accessible from any location with Internet connectivity. Traditional on-premise ERP systems are increasingly seen as obsolete technology.
ERP systems monitor business resources such as cash, raw materials, and manufacturing capacity, as well as the status of business obligations such as orders, purchase orders, and payroll.
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the structural unemployment rate is 1.5 percent, the frictional unemployment rate is 3.1 percent, and the economy's current unemployment rate is 6.9 percent. the economy is in
If the structural unemployment rate is 1.5 percent, the frictional unemployment rate is 3.1 percent, and the economy's current unemployment rate is 6.9 percent, the economy is going to be in the recessionary gap because they are producing less than the GDP.
How to solve for the unemployment rateThe formula for the natural unemployment rate would be: structural unemployment rate + frictional unemployment rate
This would be 1.5 + 3.1 percent
= 4.6%
We can see that the current unemployment rate is higher than the natural rate of unemployment therefore we would say that the nation is in a state of recessionary gap producing less than the GDP
What is unemployment?This is the term that is used to refer to the situation that is knwon to exist in a government where the people that are willing and are able to do work are unable to get the work and the jobs that they are to offer.
There are different states of unemployment. These are the cyclic unemployment, the frictional unemployment and other forms of unemployment in the society.
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What effect does recording a capital expenditure as repairs and maintenance expense have on the financial statements of the current period?.
When a capital expenditure is treated as a repair and maintenance expense, expenses are overstated while net income is understated.
What is capital expenditure?Capital expenditures (CapEx) are funds spent by a business to acquire, upgrade, and maintain physical assets such as real estate, plants, buildings, technology, or equipment. CapEx is frequently used by businesses to fund new projects or investments.Money spent on purchasing, improving, or extending the useful life of fixed assets in an organization with a useful life of one year or more Property, equipment, and infrastructure are examples of such assets.Capital expenditures, unlike operating expenses, are always recorded as an investment on your balance sheet and will also appear on your cash flow statement under the investing activities section.To learn more about capital expenditure refer to :
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5. turnkey systems, inc. began the month of june, 2014 with a prepaid expenses balance of $240,000. during the month, debits totaling $110,000 and credits totaling $80,000 were made to the prepaid expenses account. what was the june, 2014 ending balance of prepaid expenses? a debit balance of $210,000 a credit balance of $210,000 a debit balance of $270,000 a credit balance of $270,000
The net residual balance in an account is the finishing balance. It is typically measured as part of the closing process at the conclusion of a reporting period. The process of calculating an ending balance involves adding the amount of all transactions in an account to the initial balance.
The following formula can be used to determine the final balance of prepaid expenses:
Beginning balance plus debit entries minus credit entries equals the final balance. We are informed of the following:
Start-Up Balance: $240,000
$110,000 in total debit entries
$80,000 total credit entries
Consequently, the ending balance is 24000+110000-80000, or 270,000.
$270,000 will be the final sum of prepaid expenses.
An item that has been paid for in advance but has not yet been recorded as an expense by a corporation is documented at a specific point in time. In other words, prepaid expenses are outlays that are made during one accounting period but won't be recorded until a subsequent one.
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If the yield to maturity of all of the following bonds is 6%, which will trade at the greatest premium per $100 face value?.
A bond with a $1,000 face value, five years to maturity and 6.3% annual coupon payments will trade at the greatest premium per $100 face value.
The dollar value of a financial asset when it is issued is referred to as its face value. The face value of a bond is the amount paid by the issuer at maturity, also known as "par value." A stock's face value, on the other hand, is the rate offered by the issuer once the stock would be first issued.
A bond may trade at a premium since such interest rate is greater than the market rate. The bond's price can also be influenced by the company's and the bond's credit ratings. Buyers are prepared to pay a higher price for a creditworthy bond issued by a financially viable issuer.
Here is the complete question-
If the yield to maturity of all of the following bonds is 6%, which will trade at the greatest premium per $100 face value?
A) a bond with a $10,000 face value, four years to maturity and 6.2% semiannual coupon payments
B) a bond with a $500 face value, seven years to maturity and 5.2% annual coupon payments
C) a bond with a $5,000 face value, seven years to maturity and 5.5% annual coupon
payments
D) a bond with a $1,000 face value, five years to maturity and 6.3% annual coupon payments
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a company achieves a successful low-cost provider strategy by multiple choice question. boasting lower costs than rivals, but not necessarily the absolutely lowest cost. being one of several competitors in the industry with low costs. offering only frills-free products or services. always having the rock-bottom lowest cost in the industry regardless of profit margins.
Boasting lower costs than rivals, but not necessarily the absolutely lowest cost.
What is lowest cost strategy?To attract clients to the market, a low-cost provider tries to provide its goods at the lowest possible price while yet turning a profit. Due to the fact that these businesses want to appeal to a large market, this is the wide interpretation of the low-cost strategy.Businesses that employ the best-cost strategy typically attract customers with their cheaper rates and are able to cultivate a loyal following of clients. This is so that they may provide their clients with a value that lives up to their expectations.To learn more about lowest cost strategy refer to:
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