If your fixed costs (including marketing, advertising, R&D, depreciation, etc.) are high relative to variable costs (which include labor or unit components), the strategic objective is to: Company XYZ manufactures quality widgets, but does not invest a significant effort in marketing the company or its widgets.
Company XYZ manufactures quality widgets, but does not invest a significant effort in marketing the company or its widgets. If Company XYZ were to develop a ________, one of the benefits it would realize is the ability to charge premium prices.
Demand and supply refers to the interplay of the economic behavior of producers and consumers. The dynamics of demand and supply determine how much of a good will be provided and purchased at a specific price. Consumers tend to buy more of an item if its price is lower, while suppliers tend to offer more of an item for sale if its price is higher.
Supply is the amount of a good that producers are willing to offer for sale at a range of different prices.