responses:
What type of market is this business involved in?
They are involved in the fresh fruit and vegetables market. This is evident when it says ‘is a small company supplying fresh fruit and vegetables.’
The business wishes to expand its warehouse. How could it find the money to do this?
If the business wishes to expand its warehouse it would use money from its profits however if it does not have profits it will have to borrow money (a loan) from the bank or financial intermediaries and it would have to be paid back in debt and interest. They may also may slightly increase the price of the products to expands its warehouse.
Explain two methods that could be used to determine the prices of the goods sold.
Two methods that could be used to determine the prices of goods sold are percentage mark-up and by following the prices set by other sellers in the same market. A percentage mark-up is when the seller calculates a sale by adding a percentage to the price paid for the goods.
How can the
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Fresh N’ Fruity may take statistics from other stores, and trial new tastes and products to establish what their customers would like. They also may do this marketing and advertising their new product.
What factors might influence the company in deciding their methods of operation (i.e. how to produce)?
In order to remain competitive the company will make make changes based on their competitors and the evolution of technology. In our society new things are being developed that may be more cost and time effective. If competitors are using this method of operation and is effective they may also use the method of operation.
What other competitors are doing, consumer (list 3) How to produce 1.3
What factors in this marketplace influence to whom the businesses sells its fruit and