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  Introduction  To a certain extent, numerical methods can be used to find an acceptable value based on convergence criteria. To this end, it is proposed that the Cartesian geometry can be used on a three-dimensional Euclidean space to represent the blurred net present value (NPV) and to calculate the Financial Internal Rate of Return (FIRR). Since NPV is a fuzzy variable, the FIRR is expectedly set to the discount rate of the value that is zero for each number. The power of Net Present Value Estimation Simulation methods can be used to estimate the net present value (NPV) of a mineral deposit. The lower and upper limits of the NPV indicate the probability distribution. The NPV obtained from the distribution is the result of the simulation, and the decision-maker decides on the probability of success of the mining projects. The probability distribution of the NPV of each repository is estimated from the results of each iteration. The cash flow for each project is monitored in ...

  Introduction Competitive pricing of your products and services on the market puts your brand in a better position to attract customers and businesses. Competitive prices work best when your business offers competition not only exceptional customer service but also generous return policies and access to exclusive loyalty benefits. Price matters, but focusing on offering your product at a lower price than your competitors does not work. The introduction of the "better than good enough" pricing can attract new businesses and improve profits.  How does pricing strategy affect a company's profitability? When a company guides or nudges its customers through various price points and areas, it may influence customers' perception of price and value through framing and anchoring techniques. A pricing strategy is the method of pricing used by a company to determine how much it sells its goods and services. Choosing the right pricing strategy requires a deep understanding of yo...

  Introduction As its name suggests, the BCG matrix, also known as the Boston Growth-Share Matrix, was developed by Boston Consulting Group and has become a popular tool for evaluating a corporate portfolio from which to make strategic investment decisions. The BCG matrix is a growth-share business planning tool that can be used to represent a proprietary brand portfolio ( SBUs) in quadrants relative to market share (horizontal axis) and the speed of market growth (vertical axis or axis). Based on this assessment, the matrix helps inform the long-term strategic planning of the current product portfolio of a company by indicating whether a product should be invested, discontinued, or developed. A deep understanding of the BCG Matrix The BCG (Boston Consulting Group) Matrix, also known as Boston Growth-Share Matrix, was developed in the 1970s by Bruce Henderson of Boston Consulting Group (BCG) to determine the desired allocation of resources, including cash. The main task in analyzin...

  Introduction  Companies strive to expand business growth in existing markets through new products and perform well in product development. A company often uses the market penetration strategy - one of the four alternative growth strategies in the Ansoff Matrix, for its products to achieve a growth strategy in existing markets.  Whereas other companies follow a strategy of competitive pricing and aggressive marketing to attain their market penetration targets, pharmaceutical firms deliver a product development strategy that focuses on new products and services promotion to serve their existing customers in the market.  What is the Ansoff Matrix? Ansoff Matrix is also known as the product and market expansion network, a strategic tool used by companies to analyze and plan their growth strategy. The matrix enables managers to summarize all available growth strategies and assess the associated risks. Ansoff Matrix, also known as Product/Market Expansion Grid, is a tool...

  Introduction Born between the mid-1990s and the mid-2000s, the largest purchasing group to take the lead in retail dollars is Generation Z, which represents nearly 7 million Canadians, representing a significant share of purchasing power. On the other hand, they have their expectations of what they want from retailers as digital natives, and essential things like value, choice, quality, convenience, and availability are delivered. The way they shop is new and different from other demographic factors, and success depends on them wanting to promote brand awareness and pay attention. They do not see shopping as an external, new, and exciting thing to which they are accustomed as many millennials and Gen X think. The shopping trends of Gen Z Millennials are more likely to look for some "spriteaser" status look, in which they wear a brand or product that is a Gen Z looking more for items that show they are different and unique. And they think these items are luxury brands, so th...

  The popularity of QR codes in various industries Users do not have the appropriate software to scan QR codes, and a smartphone does not mean access to the embedded information. For this reason, QR codes are seen as a transitional technology for the future, in which phones can seamlessly link data to users. This requirement is eliminated for about 40 percent of mobile subscribers in the US. QR codes require the user to request information through communication channels that limit consumers' knowledge of the technology and its use. American giants such as Walmart, Starbucks, and Decathlon use QR codes for their purchases and loyalty accounts. QR codes can be scanned by customers to find product information, accept event invitations, or collect points. And in New South Wales in Australia, the government has mandated the use of a QR code in stores and cafes to track contact. While Nike, Home Depot, and Diesel are using them for marketing purposes, Coca-Cola and Zara are exploring oth...

  What is a User Journey Map? A user journey map is a visual representation of customer experience and a useful tool for your company from user perspectives as a key element in the design and optimization of user experience. Your business can benefit from examining the customer experience through the lens of this card to align with the leadership vision and help achieve business goals. User Experience and User Journey is the process of mapping and visualizing how real people perceive and interact with your organization, also known as the Customer Journey. At the more complex end of the user journey spectrum is the Customer Journey Map, which contains many layers of information. The reason to apply User Journey Map The ultimate goal of the User Journey exercises is to highlight places where the team can improve the experience, increase customer sentiment, and reduce the steps to completion of the task. A User Journey Map (also known as a Customer Journey Map) is a diagram that depic...