Willingness to Pay vs. Supplier Opportunity Cost
This is the product Harnischfeger started to offer to their customers.
Portal cranes
The concept of supplier opportunity cost describes…
The smallest amount a supplier will accept for the services and resources required to produce a good/service.
Significance of Significant value included are:
Providing extra to the clients will assist you with taking your rival's clients as well. Individuals need more in less sum.
Describe a “Goon”
A person who is hired to threaten beat up, or kill someone.
Harnischfeger was started in what state?
Wisconsin
Where is the total value created within a transaction?
The difference between the customer’s willingness to pay and the supplier’s opportunity cost.
Name benefits of competitive advantage.
Increased profits as the company can charge a little extra for the innovative product or service
When was UVU founded?
1941
It is the smallest amount a supplier will accept for the services or resources required to produce a good or service.
Supplier Opportunity Cost
Who is able to charge more for their product, and why? Jack in The box, Qdoba, Taco Bell, or Chipotle.
Chipotle, because of their commitment to sustainability and sustainable sourcing.
Name examples of Competitive Advantage
Access to natural resources that are restricted from competitors
In 2019, a jury found Joaquin “El Chapo” Guzman to have smuggled this dollar amount?
$12.7 Billion
The maximum amount of money a customer is willing to part with in order to obtain the product or service.
Willingness to Pay
When describing that a firm has differentiated itself, this means that it has what?
It has boosted the willingness of customers to pay for its output.
What does value added mean?
Adding value to a product or service helps companies attract more customers, which can boost revenue and profits.
Name two drugs The Cartel traffics?
Primarily cocaine, heroin, meth, and/or cannabis.
If the customer is willing to pay $7.5 million for a portal crane and the supplier opportunity cost is $2.5 million, what is the total value created by the transaction?
$5.0 million.
Which of these companies have not achieved dual competitive advantages? Apple, Taco Bell, Nintendo Wii, Singapore Airlines.
Taco Bell (the cheesy gordita & nacho fries)
What can value-added Benefit do for you?
Value-added benefits have the power to drive customer acquisition
What three things did Canales want you to remember?
1) Drug violence is a result of huge market demand. 2) Cartels are giant, sophisticated business organizations. 3) We are accomplices to “them” through direct consumption or acceptance of the inconsistencies between our policies and actual behavior of tolerance.