While selecting the.place of business _________ is important.(Fill in the blank by choosing correct option)
a) locality
b) region
c) capital
Answers
Answer:
The correct option for the fill in the blank is option a, i.e. locality.
Explanation:
When a business place is supposed to be selected, many factors matter. One such factor is the locality for that determines the following,
-whether resources are near or far, because that tends to determine transportation cost.
-it helps to decide the raw material availability.
-it helps to decide the labor ease.
Answer:
REGION
Explanation:
There is a concept of 7Ps which when explained here will surely clear you why the answer here is REGION.
The minute one has decided how to market a product/service one should consider the concentrated population and the region in which they are living in. It all boils down to the people (consumer/customer) and it will be fruitful for the firm to know where their customers resides.