Practical Management Science
6th Edition
ISBN: 9781337406659
Author: WINSTON, Wayne L.
Publisher: Cengage,
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- Discuss the four tests that should be used to measure the competitive power of a company's resource strengths.arrow_forwardDescribe some common hidden or unexpected costs when opening a program. Be specific.arrow_forwardA firm is evaluating the alternative of manufacturing a part that is currently being outsourced from a supplier. The relevant information is provided below: For in-house manufacturing: For purchasing from supplier: Purchase price per part = $180 a. For this information, use the Break-Even Excel template in MindTap to find the best decision if the demand is 6,000. Round your answers to the nearest dollar. Annual fixed cost = $100,000 Variable cost per part = $140 Total cost of production: $ Total cost of outsourcing: $ The best decision is to manufacture in-house b. Determine the break-even quantity for which the firm would be indifferent between manufacturing the part in-house or outsourcing it. Use the Excel Goal Seek tool. Round your answer to the nearest whole number. 10000 parts 220000 350000arrow_forward
- Plz answer ....Why customer loyalty is important for a firm?arrow_forwardDuring the implementation stage, the Fallon creative team works with Fallon media buyers to select and schedule the media. Because Fallon Worldwide offers a number of services including research, media, copy, artwork, and production, it would be classified as a (n) Multiple Choice ____ in-house agency. ____ full-service agency. ____ social media agency. ____ limited-service agency. ____ specialized agency.arrow_forwardThe make-versus-buy decision is important every time a new application is requested of the IS group. In today’s internet-enables, cloud-computing-rich environment, identify at least two scenario/use-cases, that would justify in-house IS development as opposed to external-sourcing (buy-decision) for key IS solutions. Provide a concise but informative justification for each of your two scenarios/use-cases.arrow_forward
- use practical and real examples to explain Check website of these three brands (Toyota, BMW, Renault). Compare their website features for "Delivering the online customer experience". What is website prototyping? Give three benefits of this approach.arrow_forwardproduct: Pumice stone bath mat COMMERCIALIZATION Initial distribution strategy (direct-to-consumer, wholesale, etc) New venture or license? Why? This is a very important decision! You must have the means to handle manufacturing, distribution and servicing as well as some capital if you venture. Very expensive concepts should probably be licensed, but you’ll still need to develop a prototype and protect your IP. Product line potential: in what ways could you expand your product or service to include additional concepts? MARKET STRUCTURE Overall barriers to market entry: how easy is it to enter this market? What are the implications? Overall market attractiveness: consider the size of the market, need for the product/service, projected sales, competition, etc Overall risk: What risk factors most concern you, and how will you address them? Overall expected value: How well should this product/service do in terms or sales and profit margin? What is the value to customers?arrow_forward5. Marketing activities create millions of jobs. True O Falsearrow_forward
- Marketing plan for we’re a pressure washing business that clean people’s house siding and driveways Focus, Objectives and Issues• What is to be achieved with this plan.• Specific statement of what will beaccomplished over the planning period(usually one year).• Should be achievable, measurable, written inquantifiable terms (e.g., sales in $ or units)and should be consistent with theorganization’s objectives. i don't need an essayarrow_forwardPrompt: In 1924, Kleenex tissue was invented as a means to remove cold cream. The product was initially backed by a series of advertisements that included endorsements from the era’s Hollywood stars, like Helen Hayes and Jean Harlow. After studying customer usage habits, however, the manufacturer (Kimberly Clark) realized that many customers were using the product as a disposable handkerchief. What strategy change should Kimberly-Clark adopt?arrow_forwardIdentify some of the differences on the below-mentioned business types with regard to how these offerings could be marketed differently – you can also refer here to the 7 Ps and the B2B business types. • financial services• raw materials offerings• original equipment manufacturer (OEM) offerings• maintenance, repair, and operations (MRO) offerings• consulting servicearrow_forward
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