Vertical integration refers to the process in which a company owns various stages of its production and distribution process.
It could either be backward integration where a company owns the businesses that supply the company with raw materials or forward integration, where a company owns the businesses that sell the company's products and services to the end consumer.
Vertical integration allows companies to manage and control the entire supply chain. As such, this strategy has a significant impact on the uncertainty and flexibility of a company. When a company fully controls the supply chain, it can better predict demand, control the costs of inputs and outputs, and ensure the quality of its products.
Vertical integration enables companies to respond more quickly and flexibly to changes in the market. For example, a company can easily adapt its production and distribution strategies if there is a shortage of raw materials by accessing alternative supply channels. The strategy also enables companies to take advantage of economies of scale and reduce costs while improving quality.
Vertical integration has two forms, backward integration, and forward integration. Backward integration is when a company owns the businesses that supply it with raw materials. Forward integration is when a company owns the businesses that sell the company's products and services to the end consumer.
Vertical integration impacts the flexibility and uncertainty of a company in various ways. For example, vertical integration allows a company to control the entire supply chain, from raw materials to the finished product. This control enables the company to manage the entire process more effectively, allowing them to improve quality, predict demand more accurately, and control costs.
The strategy can enable companies to respond more quickly and flexibly to changes in the market. For instance, a company can quickly adapt its production and distribution strategies if there is a shortage of raw materials by accessing alternative supply channels. Vertical integration allows companies to take advantage of economies of scale, thus reducing costs while improving quality.
It is important to note that vertical integration has its downsides. For example, it can be challenging to integrate different business models and cultures, and there is always the risk of overinvestment in a particular segment of the supply chain. Additionally, vertical integration can make a company less responsive to changes in the market if it is not implemented correctly.
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Checking account transactions are NOT reported to the credit bureaus and do not affect your credit score. Why is it still important to manage your checking account well?
Answer: Too see if anyone is stealing or charging extra fees
Explanation:
You are considering the purchase of a new home. You want a fixed-rate fully amortizing loan with a term of 30 years. Your monthly payment cannot be more than $1,103 and the current interest rate is 7.7%. What is the maximum amount the bank will lend you?
You would like to sell your investment property. It currently has an annual net operating income of $49,868 with a free cash flow of $2,744. You estimate that properties have appreciated at 3.52% over the last year. Your real estate agent has informed you that similar properties have sold for a cap rate of 10.31%. What is your estimated current value of the property?
Loan amount calculation using annuity formula:
The annuity formula is A = P x ((r(1+r)^n) / ((1+r)^n-1)),
where A is the periodic amortization payment, P is the principal amount borrowed, r is the annual interest rate, and n is the number of payments.
In this case, the maximum monthly payment is $1,103, and the term of the loan is 30 years.
The annual interest rate is 7.7%, or 0.077 in decimal form.
Monthly interest rate = 0.077/12 = 0.00642. Number of payments (n) = 30 x 12 = 360.
Now, we can calculate the principal amount P using the formula. Rearranging the formula gives us
P = A / ((r(1+r)^n) / ((1+r)^n-1)).
Substituting the given values gives
P = 1103 / ((0.00642(1+0.00642)^360) / ((1+0.00642)^360-1)) = $176,202.
Therefore, the maximum amount the bank will lend is $176,202.
Calculation of the property value:
Net operating income (NOI) is equal to the gross potential income (GPI) minus the vacancy and credit loss rate (VCLR) and all operating expenses (OE), i.e.,
NOI = GPI - VCLR - OE.
Rearranging this formula gives us GPI = NOI + VCLR + OE.
To estimate the current value of the property, we will use the income capitalization approach, which values the property based on its expected income.
First, we need to calculate the property's GPI. Given that NOI is $49,868, and the free cash flow is $2,744,
we can use the formula to calculate GPI.
NOI = GPI - VCLR - OE.
Rearranging the formula gives us
GPI = NOI + VCLR + OE = $49,868 + VCLR + $2,744.
Now, we need to calculate the cap rate, which is the expected rate of return for the property. The cap rate is 10.31%.
Therefore, the value of the property can be estimated as
V = NOI / CR = $49,868 / 0.1031 = $483,539.
Therefore, the estimated current value of the property is $483,539.
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Transvaginally, an embryo with cardiac activity should be identified when the gestational sac measures ____________ millimeters (mm)
Transvaginally, an embryo with cardiac activity should be identified when the gestational sac measures 16 to 20 millimeters (mm).
A transvaginal ultrasound is an imaging method that permits your provider to see your pelvic cavity and the organs internal to your pelvis. These organs consist of your cervix, uterus, fallopian tubes, and ovaries.
Pelvic ultrasound may be achieved by the use of one or each of 2 methods: Transabdominal (through the stomach). A transducer is placed on the abdomen with the use of conductive gel. Transvaginal (through the vagina).
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how do you find marginal cost? for 50 points
Marginal cost= change in total cost/change in quantity
Describe how a firm would need to adapt to the marketing of each of these products to suit the conditions of China, Germany and Saudi Arabia
If a vertical pipe is to be welded in a fixed position, the welding technique recommended is the A. backhand technique. B. forehand technique. C. overhead technique. D. multilayer technique.
The most suitable welding technique to be used for vertical pipe fixed positions is the Overhead technique. This is one of the basic welding positions, which is usually used to weld cylindrical objects such as pipe or tanks. The answer is C. overhead technique.
In this position, the pipe is placed horizontally, and the welding torch is operated from the top, making the overhead weld possible. The Overhead welding position is used when welding the top of a surface with a bottom-up welding progress. This position presents a challenging environment, but with a properly prepared weld joint, it is still manageable. In a vertical position, this weld is much harder than the standard positions. In overhead welding, the welder must control gravity to ensure that the filler metal doesn't fall out of the joint.
Vertical pipe welding is not easy because of the position of the pipe. A vertical pipe has to be welded from the top and downward, or from the bottom upwards, requiring the welder to be on an awkward position, which is not easy to maintain while welding. However, there are four types of welding positions, which can make it easier for the welder to weld the vertical pipe. They include flat, horizontal, vertical, and overhead positions.
The overhead welding position is best suited to weld cylindrical objects, such as tanks and pipes, because the object is placed horizontally on a surface, and the welding torch is operated from the top. This technique is mainly used to weld the top of a surface with a bottom-up welding progress. This position presents a challenging environment, but with a properly prepared weld joint, it is still manageable. In a vertical position, this weld is much harder than the standard positions.
In conclusion, the overhead welding technique is the most suitable welding technique for vertical pipe fixed positions. Welders should ensure that they are knowledgeable in all types of welding positions so that they can use the best technique to make a perfect weld joint.
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Benito's family is thinking of relocating from Los Angeles to Oakland to save money. They set up a budget comparing the cost of living for both cities. Oakland Los Angeles Budget Item Cost Cost Housing $565 $1200 Food $545 $655 Health Care $245 $495 Taxes $450 $625 Other Necessities $350 $495 Monthly Total How much money will they save monthly by the move to Oakland? $1315 $1560 $1665 $1765
Answer:
Total monthly saving = $1,315
Explanation:
Given:
Oakland Los Angeles
Cost Housing $565 $1200
Food $545 $655
Health Care $245 $495
Taxes $450 $625
Other Necessities $350 $495
Find:
Total monthly saving
Computation:
Saving in house = $1200 - $565 = $635
Saving in food = $655 - $545 = $110
Saving in health care = $495 - $245 = $250
Saving in taxes = $625 - $450 = $175
Saving in necessities = $495 - $350 = $145
Total monthly saving = $635+$110+$250+$175+$145
Total monthly saving = $1,315
Answer:
A) $1,315
Explanation:
I took the test on Edge
State the purpose of assets
Answer:
Assets are reported on a company's balance sheet and are bought or created to increase a firm's value or benefit the firm's operations. An asset can be thought of as something that, in the future, can generate cash flow, reduce expenses or improve sales, regardless of whether it's manufacturing equipment or a patent.
Explanation:
Hope this helps!
In which workplace are workers least likely to be injured by heavy equipment? a greenhouse a slaughterhouse a farm a quarry
Answer:
A green house
Explanation:
a slaughterhouse a farm a quarry
use heavy equipment and even tho they have more safety then a green house you could still even die on the job where in a green house the most you could get a a cut from a knife or something.
Please correct me if I'm wrong LOL
Why were the British able to crush the revolt
Answer: they saw through their plans
If Vito, Inc. has an inventory turnover ratio of 5 times, then its average days to sell inventory must be ______.
The average days for Vito, Inc to sell inventory must be 73 days.
What is inventory turnover ratio?Inventory turnover is the rate that inventory stock is sold, or used, and replaced. It shows many times a company has sold and replaced inventory during a given period.
Given the above information,
Average days to sell inventory = 365 days / Inventory turnover ratio
Average days to sell inventory = 365 / 5
Average days to sell inventory = 73 days
Hence, the average days for Vito, Inc to sell inventory must be 73 days.
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a fixed-weight price index like the consumer price index (cpi) the change in the cost of living because it take into account that people can substitute less expensive goods for ones that have become more expensive.
A fixed-weight price index like the consumer price index (CPI) is the change in the cost of living because it takes into account that people can substitute less expensive goods for ones that have become more expensive.
What is CPI?Consumer Price Index (CPI) is a weighted average of the prices of products and services acquired or used by consumers. CPI is a reliable economic indicator for assessing the country's economic stability, inflation rate, and living standards. This index is mainly used to monitor price fluctuations in goods and services over time, such as transportation, housing, clothing, and medical care. It is calculated by averaging the price changes of a basket of consumer goods and services.
The CPI is calculated by the following formula:
Cost of basket in current period / Cost of basket in base period × 100
The CPI enables the tracking of price changes over time, as well as the evaluation of trends in consumer purchasing behavior. The CPI is expressed in a percentage format and is used to measure inflation or deflation. The CPI basket of goods and services is updated every few years to represent current consumer purchasing habits, with some components added and others deleted.
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During periods of falling prices, a perpetual inventory system would result in the same dollar amount of Cost of Goods Sold as a periodic inventory system under which of the following inventory cost flow methods?
Select one:
a.
FIFO, but not LIFO
b.
LIFO, but not FIFO
c.
Both FIFO and LIFO
d.
Neither FIFO nor LIFO
The correct answer is b. LIFO, but not FIFO. Under a perpetual inventory system, the cost of goods sold (COGS) is recorded and updated with each sale transaction.
This system maintains a real-time record of inventory levels and costs. In contrast, a periodic inventory system does not continuously track inventory and only calculates COGS at the end of an accounting period based on a physical count.
In a period of falling prices, the choice of inventory cost flow method can have an impact on the dollar amount of COGS. This is because different cost flow assumptions allocate different costs to inventory and COGS.
Under the LIFO (Last-In, First-Out) method, the assumption is that the most recently purchased or produced items are sold first. In a period of falling prices, this means that the older, lower-cost inventory items are considered to be sold first, resulting in a higher cost being allocated to COGS. This leads to a lower reported gross profit and taxable income.
In a perpetual inventory system, the LIFO method would result in the same dollar amount of COGS as a periodic inventory system. This is because the perpetual system records the cost of each individual sale transaction, regardless of the inventory cost flow method used.
On the other hand, under the FIFO (First-In, First-Out) method, the assumption is that the oldest inventory items are sold first. In a period of falling prices, this means that the lower-cost items are considered to be sold first, resulting in a lower cost being allocated to COGS. This leads to a higher reported gross profit and taxable income.
Therefore, in a period of falling prices, the perpetual inventory system using the LIFO method would result in the same dollar amount of COGS as a periodic inventory system. This is because both systems would allocate higher costs to COGS by assuming that the lower-cost inventory items are sold first. The FIFO method, on the other hand, would result in different dollar amounts of COGS between the perpetual and periodic systems in a falling price environment.
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When Southwest Airlines created their low price strategy they were innovating around what? Circumstance Constraints Criteria Context
When Southwest Airlines created their low-price strategy, they were innovating around several factors, including circumstances, constraints, criteria, and context.
Circumstances: Southwest Airlines recognized the circumstances in the airline industry, such as high operating costs, intense competition, and price-sensitive customers. They understood that there was a need for a different approach to stand out in the market.
Constraints: Southwest Airlines faced various constraints, such as limited resources, budget constraints, and the need to maintain profitability. They had to find innovative ways to reduce costs and offer affordable fares while still delivering a high level of service.
Criteria: Southwest Airlines set specific criteria for their low-price strategy. They aimed to offer fares that were significantly lower than those of their competitors while ensuring profitability and maintaining customer satisfaction.
Context: Southwest Airlines considered the overall context of the industry, market trends, and customer preferences. They identified the growing demand for affordable air travel and saw an opportunity to differentiate themselves by providing low-cost options.
By innovating around these elements - circumstances, constraints, criteria, and context - Southwest Airlines developed a low-price strategy that revolutionized the airline industry and became a key factor in their success.
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In what three ways does the government affect production of goods and services in the US economy?
If the present value of an ordinary, 8-year annuity is $6,100 and interest rates are 8.0 percent, what’s the present value of the same annuity due? (Round your answer to 2 decimal places.)
If the present value of the annuity due, we first need to determine the annuity payment. the present value of the same annuity due is $6,588.00.
Given the present value of an ordinary annuity ($6,100), interest rate (8.0%), and the number of years (8), we can use the present value of annuity formula:
PV = PMT × [(1 - (1 + r)^(-n)) / r]
Where PV is the present value, PMT is the annuity payment, r is the interest rate (as a decimal), and n is the number of periods.
Rearranging the formula to solve for PMT, we have:
PMT = PV / [(1 - (1 + r)^(-n)) / r]
Plugging in the values:
PMT = 6100 / [(1 - (1 + 0.08)^(-8)) / 0.08]
PMT ≈ 1083.14
Now that we have the annuity payment, we can calculate the present value of the annuity due. The present value of an annuity due is always higher than the present value of an ordinary annuity by a factor of (1 + r). Thus, we can calculate the present value of the annuity due as:
PV_due = PV_ordinary × (1 + r)
PV_due = 6100 × (1 + 0.08)
PV_due = 6100 × 1.08
PV_due ≈ 6588.00
So, the present value of the same annuity due is $6,588.00 (rounded to 2 decimal places).
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Why can't an advertisement for a sports drink claim it will improve athletic performance?
Answer:
I need help plzz can u plzz answer my question
A law-enforcement officer or government agent doesn't need a search warrant to search the premises of a munitions factory.
It is false that a law-enforcement officer or government agent doesn't need a search warrant to search the premises of a munitions factory.
Who is a law enforcement officer?A law-enforcement officer is an individual who have been endorsed by the government to ensure compliance of laws and regulation.
An agent must obtain a search warrant before conducting a search of any premises. One of the Amendment of the US Constitution protects citizens against unreasonable searches and seizures, and a warrantless search would be considered unconstitutional. In order to obtain a warrant, the officer must provide probable cause to a judge, who will then issue the warrant if the cause is deemed sufficient
Therefore, a law-enforcement officer or government agent need a search warrant to search the premises of a munitions factory.
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Suppose that a firm's recent earnings per share and dividends per share are $3.00 and $1.50, respectively. Both are expected to grow at 10 percent. However, the firm's current P/E ratio of 20 seems high for this growth rate. The P/E ratio is expected to fall to 16 within five years. Compute a value for this stock by first estimating the dividends over the next five years and the stock price in five years. Then discount these cash flows using a 14 percent required rate.
Answer:
$46.90
Explanation:
The dividend in each year is the previous year's dividend multiplied by the growth factor, whereas the growth factor is 1 plus the expected growth rate of 10%, the EPS in each year would also be determined in a similar manner.
Note that the stock price is the present value of its dividends for 5 years as well as the price value of its year 5 share price(year 5 EPS*year 5 P/E ratio of 16)
HURRY I NEED HELP!!!
Does globalization (or global trade) provide an opportunity to the world (positive), or does it take advantage of local individuals and cultures (negative)? Explain in a CREW format.
Interviewer: I am here on a very crowded Wall Street with protesters chanting all around me…
Group of Protesters: People before profits! People before profits! People before profits!
Interviewer: Many of these folks are against the growth of global free trade. They believe free trade is to blame for increases in poverty, income inequality (lots of rich and lots of poor), and environmental damage in recent decades. They claim that the elimination of tariffs and other barriers to trade have simply allowed large, multinational corporations to move into and exploit (take advantage of) developing nations, while hurting many U.S. workers and families, too.
Protester 1 (wearing a “No More Sweatshops” T-shirt): The extreme expansion of capitalism and free trade has allowed large, multinational companies to exploit developing countries, and especially their poorest citizens who are often forced to work for less than $1.00 day. Many of the factories set up by these big companies are sweatshops– dirty, dangerous, and the pay is awful. We are here protesting for a ‘living wage’ for all foreign employees of U.S. corporations.
Union representative: I’m tired of these large, unfeeling corporations sending our good paying manufacturing jobs overseas to some factory where workers make $1.50 an hour, instead of letting Americans have those jobs…That’s what’s happening in the textile industry, the steel industry, and the auto industry, too. These are industries that built America and now our jobs are going to China or Mexico...
Interviewer: The other side of this global debate–you might call them free-trade advocates– argues that opening up markets and international borders to free trade has had all kinds of benefits for developing nations, as well as the United States and other industrialized nations. They cite data showing increased life expectancy, increased literacy (ability to read and write), more political freedom, and a reduction in the proportion of people living on less than $1.00 per day in the developing nations.
Manager: Evidence shows that the number of people living on $1.00 per day or less has decreased by 50% in the last 20 years, which was a period of rapid world economic growth, largely because of international trade. And the percentage of people who are malnourished (Starving) has dropped from 56% in the 1960s to only 10% today. Again, during a period of global economic growth, fueled by trade. Look, our corporation has a factory in Vietnam. Last year our factory there paid 2 times the local wage. That was a big step up for those workers, and it made sense for us, too, because it meant we could get the most productive local workers.
Shopper: Let’s also look at all of the different product choices we have. I can go into the grocery store and find different types of food from all over the world. We are limited in what we can produce and grow here in America, so having global trade gives us so many more options.
C- Claim (Globalization provides an opportunity to people throughout the world [or] Globalization takes advantage of local individuals and cultures around the world.)
R- Reason (It provides the opportunity because… [Or] It takes advantage of others because…)
E- Evidence (insert a quote from the reading to prove your positive or negative side)
W- Warrant (This quote shows how globalization is positive/negative because… We should/shouldn’t continue to trade with other countries of the world because...)
Answer:
In general, globalization has been shown to increase the standard of living in developing countries, but some analysts warn that globalization can have a negative effect on local or emerging economies and individual workers. Globalization is not new.
Finding a place to live in Mumbai, India, has been getting harder these days for people who are not vegetarians. Vegetarianism is a centuries-old custom among the Indian population, but the requirement is becoming more obvious as non-vegs are being segregated from vegs. This is important consumer information to a McDonald's franchisee and reflects how __________ shapes consumer behavior.
Answer:
Geographic segmentation
Explanation:
Geographic segmentation can be defined as the way in which the customers you serve in a particular area has different preferences or desire based on where they are located and Its also involves the grouping of potential customers by either country, state, city or neighborhood.
Geographic segmentation is a marketing reason been that GEOGRAPHIC SEGMENTATION target products to people who live or shop in a specific location and also help to group these customers based on where they live.
For example a Shoe manufacturing company who decide to target their customers who live in warm climates where shoes don't need to be equipped for the snowy weather in which the marketing platform might decide to focus their marketing efforts around either the urban area or the city centers where their target customer is likely to work.
Therefore based on the information given This is important consumer information to a McDonald's franchisee and reflects how GEOGRAPHIC SEGMENTATION shapes consumer behavior.
compute the contribution margin and the segment margin of each division and the company as a whole. what will be the impact on net income if the magazine division is eliminated?
The magazine division's net income would plummet to $24,540 if Anderson Publishing were to disappear. The book division's gross profit was $4,682,500, the magazine division was $969,800, and the contribution margin for both was $5,625,000 and $2,016,100.
The Anderson Publishing contribution margin income statement and fixed cost allocation computations are presented in full below.
Section for contribution margin income statement
Book Division Magazine Division Total
8,200,000 3,469,200 11,669,200
Less Variable cost:
The component of the cost of goods supplied that is variable
2,400,000 1,196,400 3,596,400
Variable operating cost
175,000 256,700 431,700
Contribution margin
5,625,000 2,016,100 7,641,100
Less traceable fixed cost
1,997,100 987,440 2,984,540
Segment margin
3,627,900 1,028,660 4,656,560
Less common fixed cost
2,076,400 1,526,960 3,603,360
Net profit 1,551,500 (498,300) 1,053,200
Calculations
Traceable fixed cost of Magazine division
= (1,303,000 × 20%) + (1,211,400 × 60%) = $987,440
Common fixed cost of Magazine division
= (1,303,000 + 1,211,400) - 987,440 = 1,526,960
Traceable (direct) fixed cost of Book division
= (1,117,500 × 20%) + (2,956,000 × 60%) = $1,997,100
Common fixed cost (untraceable) of Book division
= (1,117,500 + 2,956,000) - 1,997,100 = $2,076,400
If the magazine division is discontinued, Anderson Publishing may completely avoid or remove the direct fixed cost of $987,440 for the magazine segment.
However, the Magazine division's Common Fixed Cost of $1,526,960 cannot be avoided.
Estimating net income in the event that the Magazine Division is abolished
Particulars $
The segment margin of the Book division 3,627,900
Less common fixed cost (2,076,400 × 1,526,960) 3,603,360
Net income 24,540
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HELP PLEASE
20 points :)
Answer:
the last one.
Explanation:
they both are traveling at the same speed. the size (mass) won't matter because only temperature affects average kinetic energy.
hope this helps :)
By law, manufacturers and distributors are responsible for providing Safety Data Sheets.
Who else is responsible for providing Safety Data Sheets?
Select the best option.
O
O
Managers
Workers
Importers
Employers
Managers are responsible for providing Safety Data Sheets.
According to the Hazard Communication Standard (HCS) (29 CFR 1910.1200(g)), which was updated in 2012, the chemical manufacturer, distributor, or importer must give downstream users Safety Data Sheets (SDSs) (previously known as Material Safety Data Sheets or MSDSs) for each hazardous chemical in order to inform them of the hazards.
The SDS and MSDS both include virtually the same information, but today the SDSs must be presented in a standardized, user-friendly, 16-section format. This guideline helps workers who handle dangerous chemicals become accustomed to the format and comprehend the SDSs' contents.
The SDS contains details about the physical, physiological, and environmental dangers of each chemical, as well as information about how to handle, store, and transport each chemical safely.
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When you buy something and make no payments for several months is called
Answer:
Deferred (interest)
Explanation:
I have to have a certain amount of characters so don't mind this part down here
If the RBA increases the cash rate, this will lead to a decrease in the price of 90-day bills and an increase in the interest rate for the 90-day bills. True False
If the Reserve Bank of Australia (RBA) increases the cash rate, it will lead to a decrease in the price of 90-day bills and an increase in the interest rate for the 90-day bills is True.
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HELP ILL GIVE A CROWN TO WHOEVER IS RIGHT BUT PLZ HeLP
Alejandro lives in a small apartment, within walking distance to school. He takes the bus to work where he makes $10 per hour after taxes and works 30 hours per week. He wants to save money to buy a $6000 car within the next 2 years. How could a monthly budget be created to help Alejandro meet his financial goals? Select the best option.
Monthly Budget
Budget A
Budget B
Budget C
Budget D
Income
$1,500
$1,500
$1,200
$1,200
Expenses-
Rent
Utilities
Food
Bus Pass
Savings
$600
$100
$150
$25
$250
$600
$100
$550
$25
$250
$600
$100
$250
$25
$250
$600
$100
$150
$25
$250
a.
Budget A
b.
Budget B
c.
Budget C
d.
Budget D
Please select the best answer from the choices provided
A
B
C
D
Answer:
um look and ctrl C my link and it have the answer
Explanation:
um that should also give ur answer too
https://quizlet.com/68451633/personal-finance-flash-cards/
Answer:
The answer is Budget D
Explanation:
Below are your options for a bank. Look at the banks details and decide which bank you would choose. Be sure to explain your answer.
Keys Bank
Insured: yes
Services: checking, savings, loans, CDs
Locations: downtown, near the office
Hours: 8 a.m. - 4 p.m.
ATMs: many convenient locations
Membership: none
Fees: $25 fee for going below minimum balance, $30 fee for bouncing a check, $10 fee for overdraft, ATM fees
Interest rates: .15 percent
New England Bank
Insured: yes
Services: checking, savings, online banking, loans, CDs
Locations: near the grocery store, throughout New England
Hours: 8 a.m. - 6 p.m.
ATMs: at the bank, near school
Membership: none
Fees: $25 fee for bouncing a check, $15 fee for overdraft
Minimum balance: no minimum balance
Interest rates: .5 percent
Answer: New England Bank.
Explanation: Starting with the services offered by both banks which are very similar except for the online banking afforded to New England Bank customers which means customers can bank from the comfort of their mobile devices and PC. Online banking is a very essential services in banking today.
Location : Throughout New England means customers need not worry traveling long distances before being able to visit their banks.
New England Bank also offers more opening hours to attend to customers
Even though ATM's are located at the bank or near school, since New England banks are easy to access and the availability of online banking. ATM location wouldn't be much of an issue.
New England Bank also offer higher Interest rate of 0.5% and doesn't require a minimum balance.
Why is price important to a company?
A.
It covers their costs.
B.
It is a part of the marketing mix.
C.
It makes customers purchase their products.
D.
It brings the company profits and decides its ability to survive in the market.
Answer:
B. It is a part of the marketing mix.
Explanation:
Price refers to the amount of money a customer or consumer buying goods and services are willing to pay for the goods and services being offered. The price of goods and services are primarily being set by the seller or service provider.
Price is important to a company because it is a part of the marketing mix.
Generally, a marketing mix is made up of the four (4) Ps;
1. Products: this is typically the goods and services that gives satisfaction to the customer's needs and wants. They are either tangible or intangible items.
2. Price: this represents the amount of money a customer buying goods and services are willing to pay for it.
3. Place: this represents the areas of distribution of these goods and services for easier access by the potential customers.
4. Promotions: for a good sales record or in order to increase the number of people buying a product and taking services, it is very important to have a good marketing communication such as advertising, sales promotion, direct marketing etc.
Price is generally considered to be a variable in the marketing mix that is most flexible because unlike other elements of production, it can be easily changed. An organization can decide to either raise or lower it's price depending on the nature of the market.
what must managers be able to do if they want employees to understand the business’s goals and be productive?
Conceptual skills to understand the business’s goals and be productive.
Who needs conceptual skills?
The ability to see an organization's big picture is referred to as having conceptual talents. For instance, you can consider why you are undertaking a project before getting started, how it ties to the organization as a whole, and how it affects the surrounds.Conceptual abilities enable you to anticipate problems, come up with ideas for solutions, and comprehend the strategic large picture that drives a company's day-to-day operations. Although they are useful in any career, conceptual skills are particularly crucial for those in managerial positions.To know more about Conceptual skills here
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