Business & Finance

Related diversification involves expanding a company's operations into new markets or products that are related to its existing business, leveraging synergies and shared resources. In contrast, product development focuses specifically on creating new products or improving existing ones within the same market to meet customer demands. While related diversification broadens the overall business scope, product development concentrates on enhancing offerings within a specific market segment. Both strategies aim to foster growth, but they approach it from different angles.

Calculating mobile app development cost becomes much simpler once you understand the core elements that influence it. While every app is unique, the cost always comes down to a combination of features, complexity, design, technology, and development time.

To make things even clearer, here’s the actual formula most development companies use.

The Actual Formula for Mobile App Development Cost

Mobile App Development Cost = Total Development Hours × Hourly Rate

This formula works because every feature, screen, and integration requires a certain number of hours to design, develop, test, and refine. Once you know the estimated hours and the hourly rate of the development team, you can calculate a realistic cost.

For example:

If your app requires 600 hours and the hourly rate is 40 dollars, the estimated cost would be:

600 × 40 = 24,000 dollars

1. Identify Your App’s Features

Features are the biggest factor in determining development hours.

Basic features like login or simple forms require fewer hours.

Advanced features like AI recommendations, real‑time chat, GPS tracking, or industry‑specific integrations require more time and expertise.

2. Choose Your Platform

Your cost changes depending on whether you build for:

iOS

Android

Both

Building for one platform requires fewer hours. If you want both, cross‑platform frameworks like Flutter or React Native can reduce time and cost.

3. Understand the App’s Complexity

Apps generally fall into three categories:

Basic apps with simple screens and minimal functionality

Moderate apps with APIs, databases, dashboards, and interactive features

Advanced apps with AI, custom workflows, real‑time systems, and industry‑specific requirements

If your app targets industries like healthcare, fintech, logistics, retail, or education, additional compliance and security layers may increase development hours.

4. Consider UI and UX Design

A simple design requires fewer hours.

Custom animations, branded visuals, and polished user flows take more time but significantly improve user experience.

5. Include Backend Development

If your app needs to store data, manage users, or process transactions, you’ll need a backend.

Backend development includes servers, databases, APIs, and admin dashboards, all of which add to the total development hours.

6. Add Testing and Quality Assurance

Testing ensures your app works smoothly across devices and operating systems.

It typically accounts for 15 to 25 percent of total development time.

7. Plan for Ongoing Maintenance

After launch, you’ll need updates, bug fixes, new features, and security improvements.

Maintenance usually costs around 15 to 20 percent of the original development cost annually.

So What’s the Final Cost?

Using the formula

Cost = Hours × Rate,

you can estimate your budget once you know the scope of your app.

Simple apps cost less, moderate apps fall in the middle, and advanced apps with AI or industry‑specific features cost more. Your final number depends on your feature list, design needs, platform choices, and long‑term goals.

If you’re searching for the best mobile app development company to guide you through the process and provide a clear, accurate cost estimate, Apptechies is an excellent choice.

They specialize in building high‑quality mobile apps across various industries, including healthcare, finance, logistics, retail, and education. Their team also has strong expertise in AI‑powered solutions, helping businesses create smarter, more scalable, and future‑ready digital products.

They are known for:

Transparent pricing

Clean and modern UI design

Strong technical architecture

End‑to‑end development support

Deep industry knowledge

If you want a reliable development partner that understands both technology and business, Apptechies is definitely worth considering.

To maximize purchasing power, Juan should consider the cost of living in each city alongside the salary. Typically, San Francisco has a much higher cost of living compared to Atlanta and Boston, which may significantly reduce the effective value of the $100,000 salary there. Therefore, Juan should evaluate the cost of living adjustments for each city, but likely, the Atlanta offer of $50,000 might provide the best purchasing power, depending on specific living expenses.

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One of the most scalable ways to create long-term, six-figure income is through a strategically built YouTube channel. With evergreen content, videos can continue generating revenue through ads, search discovery, and repeat views—long after they’re published.

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At GD Goenka University, students without Mathematics in Class 12 can still apply for BCom (Hons.), subject to meeting the university’s eligibility criteria and admission guidelines.

A decline in real GDP can be caused by several factors, including decreased consumer spending, reduced business investment, and lower levels of exports. Economic downturns, such as recessions, often lead to higher unemployment and lower disposable income, which further reduces consumption. Additionally, external shocks like natural disasters or geopolitical tensions can disrupt production and trade, contributing to a decline in overall economic output.

Export selling involves directly selling goods to foreign markets without significant adaptation to meet local needs, such as a U.S. company exporting bulk corn to a foreign buyer. In contrast, export marketing includes tailoring products and marketing strategies to fit the preferences and cultural contexts of different markets, such as a cosmetics brand adjusting its packaging and advertising to resonate with consumers in Asia.

The 13-step Software Development Life Cycle (SDLC) provides a detailed framework that encompasses extensive phases such as planning, analysis, design, development, testing, deployment, and maintenance, allowing for thorough documentation and risk management. In contrast, the 3-step SDLC simplifies the process into broader categories: planning, execution, and maintenance, focusing on the essential aspects of software development without delving into granular details. While the 13-step approach is beneficial for complex projects requiring extensive oversight, the 3-step model is more agile and suitable for smaller projects or teams needing quicker iterations.

The organizational buying process consists of several stages, including problem recognition, information search, evaluation of alternatives, purchase decision, and post-purchase evaluation. It involves multiple stakeholders typically referred to as the buying center, which includes roles such as users, influencers, buyers, deciders, and gatekeepers. Each member has distinct responsibilities and perspectives, influencing the final purchasing decision. Understanding this dynamic is crucial for suppliers to effectively tailor their marketing strategies to meet organizational needs.

Dr. James Naismith, often credited as the inventor of basketball, is sometimes recognized as one of the early figures in the field of sports medicine due to his emphasis on physical education and athletic training. However, Dr. L. William Morgan is often referred to as one of the first formal sport medicine specialists, publishing works and advocating for the medical care of athletes in the mid-20th century. The establishment of sports medicine as a distinct field has evolved over time, influenced by various individuals and advancements in sports science.

A multicultural person is someone who identifies with or encompasses multiple cultural backgrounds, traditions, languages, or values. This individual may have been raised in a diverse environment or actively engages with various cultures, allowing them to navigate and appreciate different perspectives. Their experiences often foster a deeper understanding and respect for cultural differences, contributing to a more inclusive worldview.

Business Process Automation (BPA) strategy focuses on using technology to automate repetitive and manual tasks across business operations. The goal is to improve efficiency, reduce errors and costs, speed up workflows, and ensure consistent results while allowing employees to focus on higher-value work.

Corporate training covers many categories. Each type targets a specific skill or business need. Below are the main categories organizations use to upskill staff.

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A collection of securities is commonly referred to as a "portfolio." A portfolio can include various types of investments such as stocks, bonds, mutual funds, and other financial instruments, tailored to meet the investor's financial goals and risk tolerance. Proper diversification within a portfolio can help manage risk and enhance potential returns.

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Just-in-time (JIT) purchasing can lead to several disadvantages, including increased vulnerability to supply chain disruptions, as there is minimal inventory on hand to buffer against delays. It also necessitates strong relationships with suppliers, which can be challenging to maintain and may result in higher costs if suppliers raise prices. Additionally, JIT systems can limit a company's ability to respond quickly to unexpected spikes in demand, potentially leading to lost sales. Lastly, the pressure on suppliers to deliver precisely on time can lead to quality control issues if not managed carefully.

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Open market operations involve the buying and selling of government securities by a central bank to regulate the money supply. When the central bank purchases securities, it injects liquidity into the banking system, increasing the money supply and lowering interest rates. Conversely, selling securities withdraws liquidity, reducing the money supply and potentially raising interest rates. This tool is essential for implementing monetary policy and achieving economic stability.

Negotiation situations often share fundamental characteristics, such as the presence of conflicting interests, the need for communication, and the goal of reaching an agreement. However, the context, cultural influences, and the specific parties involved can significantly impact the dynamics and strategies employed. While the core elements remain consistent, each negotiation is unique due to varying circumstances and participant motivations. Thus, while there are commonalities, the specifics can differ widely.