Factors of Production: Resources for Economic Activity
Factors of Production
Work
Human activity, both physical and intellectual, is necessary to produce goods and services. Most workers work for others—employers or the state—in exchange for a wage. However, some workers are autonomous, working independently, setting their own organization, and reaping the fruits of their labor.
Employers and employees negotiate the terms of work, usually formalized in a contract that specifies aspects like the trial period, contract duration (permanent or temporary)
Read MoreGlobal Marketing Strategies: Sales Promotions, Personal Selling, and Direct Marketing
Question 31: Cognac Marketing
A marketer of fine French cognac offering a fancy cigar cutter with every purchase is an example of: B) non-price promotion
Question 32: Sales Promotion Advantages
Which of the following is not an advantage of using sales promotions? C) enables the company to build its database
Question 33: Global Marketing Campaign
In a contest involving 45 different languages covering 60 countries, the primary promotional tool employed is: E) sales promotion
Question 34: Combating Counterfeiting
To
Read MoreConsumer Protection Law in Retail Management: A Guide to Sales Promotions
Consumer Protection Law in Retail Management
Sales Promotion Activities under Law 7/1996 (LOCM)
Title II (Articles 18-35) of the Retail Commerce Law 7/1996 (LOCM) addresses sales promotion activities. These activities offer consumers additional incentives like lower prices (rebates, sales, clearances) or added benefits (gifts or bonuses). They utilize persuasive communication to promote products and services and are characterized by their exceptional and temporary nature.
Article 18 specifically mentions
Read MorePostwar Economic Frailty and the Crash of 1929: Causes, Consequences, and Responses
T9: Postwar Economic Frailty
9.1 Financial Difficulties and Precarious Monetary Stability
The international economy enjoyed a period of stability at the turn of the 20th century. However, the economic expansion of the 1920s was weak and slowed down abruptly with the crisis of the 1980s and later with the advent of World War II (which arose from the crisis of 1929).
During this period, the economy evolved in two stages:
I. Reconstruction
In Europe:
Europe was slow to recover its pre-1914 production levels,
Read MoreChannel Functions & Decisions in Marketing Logistics
Channel Functions
Channel functions encompass various activities, including gathering information, developing and disseminating persuasive communications, reaching agreements on price and conditions, securing funds to finance inventories and risk-taking, facilitating storage, offering buyers payment clearance, monitoring the transfer of ownership, managing physical possession, and promoting the forward flow of activity from the company to customers and the backward flow of customer activity to the
Read MoreCross-Docking, Direct Shipping & Warehousing Strategies in Logistics
Chapter 7: Logistics Strategies
Question 1: Cross-Docking, Direct Shipping, and Warehousing
A cross-docking strategy suits suppliers of fast-moving, non-perishable goods (e.g., beer, rice, shampoo) with high sales volumes but low individual store demands. Cross-docking coordinates full truckload shipments. Perishable products with critical lead times (e.g., milk, yogurt) benefit from direct shipping.
Direct shipping is also efficient when stores require full truckloads, eliminating warehousing’s transportation
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