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Final

COMM 491 Final: Value Creation and Capture-Important Points

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Department
Commerce
Course
COMM 491
Professor
Adam Pancratz
Semester
Winter

Description
Value Creation and Capture 1) Profit Maximizing: This is the overarching strategy of any firm a. Profit = Revenue Cost b. (Revenueunit Costunit) X unit sales c. (Price Avg Cost) X Quantity d. THUS: For a strategy to be profitable it must i. Increase Price ii. Decrease average cost iii. Increase Quantity Sold e. This means that a business strategy can only increase profit by: i. Increasing price of your good ii. Cut costs iii. Find more customers iv. Sell MORE to current customers 2) Value Creation and Capture: a. If we Increase the price of our good:
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