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What else can I help you with?
When does a firm have market power?
A firm is a monopoly if it is the sole seller of its product and if its product has no close substitutes.
What is the Concept of revenue?
Average revenue (AR): total revenue per unit of a product sold; Total revenue (TR): total number of dollars received by a firm or firm from the sale of a product; Marginal revenue (MR):additional revenue received result from the sale of an extra unit of product; Under perfect competition P=AR=MR and the firm's demand curve is flat.
Why a firm may develop a new product?
A firm would usually do that because it expects to sell the product, and make a profit.
License existing technology from another firm and apply it to this product?
Where the technology you are using from another firm is applying that to a product that needs to be license.
A letter to a firm asking to sell his product?
letter to a firm asking about catalogues
If a firm's product is perishable where is the firm usually located?
It's near its consumers
If a firm product is perishable where is the firm usually located?
It's near its consumers
What is brand proliferation?
Brand proliferation is when a firm puts out new brand names under the same product lines. For example, Huggies is a firm owned by Kimberley-Clark. Huggies is best known for producing disposable diapers, and has different product lines such as Pull-Ups and Little Swimmers.
Under what circumstances should a firm be product oriented?
A firm should adopt a product-oriented approach when it has a strong focus on innovation and quality, aiming to create superior products that stand out in the market. This strategy is effective in industries where product features, design, and technology are key competitive advantages. Additionally, it may be suitable when customer preferences are well understood, allowing the firm to lead with its offerings rather than just responding to market demands. However, it is crucial that the firm balances this with market feedback to avoid alienating potential customers.
What must a firm consider before marketing a product?
Wether the product is rubbish or not
What is the definition of intracorporate transfers?
firm export product or goods by using subsidiaries or derivative firm
What is product adaptation and product standardization?
Product adaptation is where a Firm adapts a product to a geographic location to fit one geodemographics.
