However, if your revenue is small but your customer support team is large and expensive, saving 40% of their time may actually save you more in operational costs than the new revenue that came in. If you build the revenue-generating feature first, you can capture all of the new revenue while fixing your customer support issue. Let’s say the customer support feature will take you 4 weeks to build, test, and release. The right choice for your company will depend on the size of your customer support queue and your weekly revenue. Another is projected to increase our weekly revenue by 5%. One is expected to decrease the number of incoming support tickets by 40%. We are debating the priorities of two features. Let’s look at another example from Product Management.
In this example, we can see that if Gerald invests all of his ice cream in himself, he’s missing out on the potential joy the ice cream could bring Piggie. However, if he shares the ice cream with Piggie, Piggie will be joyful, Gerald will be joyful, and there will be the added joy that comes from sharing a treat with friends. If Gerald eats the ice cream by himself, his return will be one unit of his own joy. Let’s look at a few examples:įor Gerald, the value of ice cream is the joy it brings to the consumer. To formally calculate opportunity cost, simply subtract the return on the chosen investment from the return on the best option you could have taken. Package content is not flexible and cannot be modified.Investopedia defines opportunity cost as the potential benefits an individual, investor, or business misses out on when choosing one alternative over another. Please note that if your order ships in multiple boxes, package components may not all be in the same box. The package item number is also listed at the bottom of your packing slip for reference. On your packing slip, package components are picked and packed individually and are identified with the code "PKGCMP" in the price column. Any backordered components will ship separately as they become available. In-stock components will ship according to our normal shipping time.
When you order a package, you are charged one price for all package items. Because most package items or components are also sold separately and may be components of multiple packages, these items may not have the same inventory availability at any point in time. Although packages are sets, items are not physically bundled together. Any item sold as a package on our website is identified by a unique alpha-numeric item number (such as "APH1AB"). A listing of individual items that make up a package is provided on the package item's product detail page along with real-time item availability of those items. A "package" is made up of two or more items sold as a set, often for a reduced price.
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