BUSINESS ADMINISTRATION
STRATEGIC MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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switching costs
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loyalty programs
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entry barriers
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affiliate programs
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Detailed explanation-1: -A product or service that customers have come to expect from an industry, which must be offered by new entrants if they wish to compete and survive, is known as an Entry barriers.
Detailed explanation-2: -Product Needs Customers need your product or service to function the way they need in order to solve their problem or desire. Customers have unique budgets with which they can purchase a product or service. Your product or service needs to be a convenient solution to the function your customers are trying to meet.
Detailed explanation-3: -While considering the place for a product Convenience is important for customer. A convenience good is a consumer item that is widely available and purchased frequently with minimal effort.
Detailed explanation-4: -Consumer to Consumer (C2C) is an e-commerce model which focuses on consumers dealing with one another in this model goods and services are sold and purchased by consumers among each other.
Detailed explanation-5: -Definition: The conversion rate is the percentage of users who take a desired action. The archetypical example of conversion rate is the percentage of website visitors who buy something on the site.