Question

Short Answer: ALL responses must be 5-7 sentences to receive credit. Anything less will be given NO credit.

8. Pricing has many important concepts to understand. Explain the importance of each concept: Mark-up, Discount, Unit pricing, and a Loss leader. ______________________________________________________________________________________________________________________________________________

9. What are some training options for small businesses? ______________________________________________________________________________________________________________________________________________

10. Why is part time/ temp work becoming more common? ______________________________________________________________________________________________________________

Answer 1

Q8. Pricing has many important concepts to understand. Explain the importance of each concept: Mark-up, Discount, Unit pricing, and a Loss leader.

Mark-up:

Mark-up pricing or cost-plus pricing is a pricing strategy where the price of a product or service is calculated by adding together the cost of the products and a percentage of it as a markup. The percentage or markup is decided by the company usually fixed at the required rate of return.

For example,

if a product sells for $125 and costs $100, the additional price increase is ($125 – $100) / $100) x 100 = 25%.

Discount:

Discount pricing is one type of pricing strategy where you mark down the prices of your merchandise. The goal of a discount pricing strategy is to increase customer traffic, clear old inventory from your business, and increase sales.

Unit Pricing:

A unit price is the price for one item or measurement, such as a pound, a kilogram, or a pint, which can be used to compare the same type of goods sold in varying weights and amounts. Multiple pricing is selling two or more of the same item at a price that is lower than the unit price of a single item.

A Loss leader:

"Loss leader pricing is an aggressive pricing strategy in which a store sells selected goods below cost in order to attract customers who will, according to the loss leader philosophy, make up for the losses on highlighted products with additional purchases of profitable goods."

Q9. What are some training options for small businesses?

The following are some training options for a business

1. Create A Plan. Before you can make an employee training program, you must first determine what you want employees to learn.
2. Host Regular Training Sessions.
3. Use Employees As Trainers.
4. Cross Train Workers.
5. Set Training Goals.

Q10. Why is part time/ temp work becoming more common?

Now a days part time/temp work becomes more common because it satisfies both the organisation and job seekers.

Benifits for Job seekers:

*Flexible time.

*Stress free.

*Develop Management skills.

*Satsfies economic needs.

Benifits for Organisation:

*Flexebility labour rules.

*Covers Resumes gap.

*Reduce short term costs.

*NO company benifits , no health benifis, no sick pay etc.

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