Part I: Discuss how the concepts in this course can be applied to real-world situations and can increase your chances of career or life success.
Part II: On-ground retailing has experienced significant difficulties of late with many closing their doors. Select one that has either closed or is still open, and discuss the issues associated with the model. What could they do or could they have done to maintain?
Part II: On-ground retailing has experienced significant difficulties of late with many closing their doors. Select one that has either closed or is still open, and discuss the issues associated with the model. What could they do or could they have done to maintain?
Answer & Explanation
Solved by verified expertPart I: The concepts in this course can be applied to real-world situations and can increase your chances of career or life success. For example, the concept of supply and demand can be applied to many real-world situations. If there is a high demand for a product or service and a low supply, the price of the product or service will increase. If there is a low demand for a product or service and
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Step-by-step explanation
a high supply, the price of the product or service will decrease. By understanding the concept of supply and demand, you can make better decisions about what to buy and when to buy it.
Part II: Many on-ground retail stores have closed in recent years due to the rise of online shopping. One of the issues with on-ground retail stores is that they have fixed costs, such as rent, that they must pay regardless of how many customers they have. Online stores do not have these fixed costs, so they can sell their products at a lower price. Another issue with on-ground retail stores is that they are not as convenient as online stores. Customers have to leave their homes and go to the store, which takes time and effort. With online stores, customers can shop from the comfort of their own homes.
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