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What is the most common way firms differentiate Between consumer goods?
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Why is it important for the firms to differentiate themselves from competition?
It is necessary. But, at the end of the day I found its amazing.
What outlets do firms have to sell their output?
business markets and consumer markets
Which of the following is a cause for erosion of a small firm's focus strategy?
Answer The answer is between one of the following.... Consumer demand grows New firms reconstruct the industry Differences between segments grow larger The focus strategy is imitated
Is a set of firms that make and deliver a given set of goods and services to the ultimate consumer?
Supply chain.
What are two common barriers that prevent firms from entering a market?
Monopoly and Oligopoly are two barriers that prevent firms from entering the marketplace.
What is the most common way firms differentiate between consumer group?
based on age and gender
Whole salers are firms that sell driectly to the consumer?
Retailers are firms that sell directly to the consumer, wholesalers are the firms that supply the retailers goods to sale to the consumers.
Why is it important for the firms to differentiate themselves from competition?
It is necessary. But, at the end of the day I found its amazing.
What outlets do firms have to sell their output?
business markets and consumer markets
Which of the following is a cause for erosion of a small firm's focus strategy?
Answer The answer is between one of the following.... Consumer demand grows New firms reconstruct the industry Differences between segments grow larger The focus strategy is imitated
What is the difference between order winners and order qualifiers?
An order Qualifier are the standards by which a firms products are passed as fit for possible purchase by customers. Order winners on the other hand are the standards that differentiate the products or services of one firm from another.
Is a set of firms that make and deliver a given set of goods and services to the ultimate consumer?
Supply chain.
What is nonprice competition?
Non-price competition refers to competition among firms that choose to distinguish their product via non-price means. EX: style, delivery, location, atmosphere, promotions, etc. Non-price competition is often used by firms that wish to differentiate between virtually identical products (dry-cleaners, food products, cigarettes, etc). Although any firm can use non-price competition, it is most common among monopolistically competitive firms. The reason for this is that firms which operate in the monopolistically competitive market are price takers, that is, they simply do not have enough market power to influence or change the price of their good. Consequently, in order to distinguish themselves, they must use non-price means.
What are two common barriers that prevent firms from entering a market?
Monopoly and Oligopoly are two barriers that prevent firms from entering the marketplace.
Explain the connection between householdsand firms in the economy?
The connection between households and firms in the economy stems from the fact that consumers in this case households work for firms to earn wages as the company makes profits due to increased production.
What is inter-firm trade?
Trade between firms.
Describe the circular Flow Model?
The circular flow model is a summary of the operation of a market economy, that is the flow between production factors (firms) and households. Firms provide an income to households though employment (labour) and in the same manor households spend their income on firms for services and products.
