Final answer:
To improve its income, the bakery shop can introduce new premium products, expand marketing efforts, and offer discounts and promotions. The correct option is d. All of the above
Step-by-step explanation:
In order to improve its income and take advantage of the improvement in the standard of living, the bakery shop can consider implementing the following strategies:
- Introduce new premium products: By offering high-quality, specialty items, the bakery can attract customers willing to spend more for unique and gourmet options.
- Expand marketing efforts: This can be done through targeted advertising campaigns, social media promotions, and collaborations with local businesses to increase visibility and attract a wider customer base.
- Offer discounts and promotions: While introducing premium products, the bakery can also offer occasional discounts or promotions to appeal to price-conscious customers and encourage repeat business.
By adopting a combination of these strategies, the bakery shop can optimize its income and adjust to the improved standard of living. The correct option is d. All of the above