Solved

Scenario 1.1 Use the Following to Answer the Questions

question 79

Multiple Choice

Scenario 1.1
Use the following to answer the questions.
Greensprings Cemetery in upstate New York, offers a full-service funeral and burial that is non-toxic to the environment. All materials used in the burial are natural and will decompose with no negative impact. Greensprings' service is relatively new in the United States, but services of this type are common in Great Britain. A typical burial in Greensprings' cemetery includes a casket made from bamboo, wicker, paper, or other natural material. There are no headstones of stone or concrete that will detract from the landscape, but trees and plants as "markers" are allowed. The cost for a burial at Greensprings is approximately $3,000, compared to about $6,000 at most traditional cemeteries. Although business was slow at first, Greensprings is now experiencing an increase in the number of burials, due to referrals and a newly-developed website. The owners of Greensprings were previously in the cemetery business, and are active conservationist and wanted to make their business more sustainable. After conducting research and finding that there were natural burial sites in Great Britain, they wanted to provide an alternative to other environmentally-conscious Americans like themselves.
-Refer to Scenario 1.1. Greensprings' main competitive advantage over traditional cemeteries comes from its attention to the element in the marketing mix.

Definitions:

Exports

Goods or services produced in one country and sold to buyers in another, contributing to a country's economy by bringing in revenue.

Demand for Currency

The desire or need for a particular currency, which can be influenced by interest rates, economic stability, and the overall economic strength of the country issuing the currency.

Flexible Exchange Rates

A currency system where the value of a country's currency is allowed to fluctuate according to the foreign exchange market's demand and supply forces.

Japanese Yen

The official currency of Japan, widely used in international finance and trading.