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a product where the consumers are relatively indifferent to the product or service. marketing tools can sway their decisions on products such as sugar, bread, crisps etc
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What is product-policy decision?
Product Policy plays a very significant and crucial role in the product establishment and its growth in the market.The marketer has to keep mind the product policy decision while introducing a product.It acts asa tool in the hands of the marketer.It involves the four majordecisions:1. Individual Product decision-It involves decisions related to product attribute, product branding, product packaging, productlabelingand productsupportservices.2. Product Line decision: It involves decision like ProductProductline stretching and Product Line filling.3. Product Mix Decision-It involves decision like Product mix width, Product mix length, Product depth, Product consistency.4. Product Positioning Decision.
Advantages of a decision making unit?
importance of the decision making unit
What is swoc analysis and explain its relevance to business decision making?
What is SWOC analysis and explain its relevance to business decision making
What is buying decision process?
Buying decision process regards the period between considering whether to buy something up until the time one pays for it. During this process, a person considers the benefits of the product and the financial effect making the purchase will have on their finances.
What is DMU in marketing?
Decision Making Unit
What considerations should govern your decision making as a consumer?
The price and quality of a given product are some of the considerations that should govern your decision making as a consumer.
If limited time is a factor in decision making it is preferable to have a blank make the decision?
individual. It takes too much time for a group to reach a decision.
What are the purposes of a product costing?
planing, cost controlling, directly and decision making.
3. Explain briefly various models of decision making process?
The rational model of decision making provides a four step sequence. The normative model includes limited information processes, shortcuts used to simplify decision making. and settling for "what works".
Challenges facing managers in regards to decision making?
Opinions may vary. One challenge that faced managers is making the right decision to a tough problem given a limited time.
What are the purposes of a product-costing system?
planing, cost controlling, directly and decision making.
What is Discontinuation decision making in management accounting?
This is the decision made when a multi-production company stops the production of a product that shows loss. The decision helps accountants to control investment on unproductive ventures.
What is the difference between an open decision making system and a closed decision making system?
A. Closed decision making system:If the manager operates in a known environment then it is a closed decision making system. The conditions of the closed decision making system are:(a) The manager has a known set of decision alternatives and knows their outcomes fully in terms of value, if implemented.(b) The manager has a model, a method or a rule whereby the decision alternatives can be generated, tested, and ranked.(c) The manager can choose one of them, based on some goal or objective.A few examples are:a product mix problem,an examination system to declare pass or fail, oran acceptance of the fixed deposits.B. Open decision making system:If the manager operates in an environment not known to him, then the decision making system is termed as an open decision making system. The conditions of this system are:(a) The manager does not know all the decision alternatives.(b) The outcome of the decision is also not known fully. The knowledge of the outcome may be a probabilistic one.(c) No method, rule or model is available to study and finalize one decision among the set of decision alternatives.(d) It is difficult to decide an objective or a goal and, therefore, the manager resorts to that decision, where his aspirations or desires are met best.Deciding on the possible product diversification lines, the pricing of a new product, and the plant location, are some decision making situations which fall in the category of the open decision making systems. by prerna
What is decision and decision making?
Decision making is the process by which a decision is made. Communicating, when it comes to decision making, is the way the information about that decision is distributed to ensure everyone is aware.
What is product-decision policy?
Product Policy plays a very significant and crucial role in the product establishment and its growth in the market.The marketer has to keep mind the product policy decision while introducing a product.It acts asa tool in the hands of the marketer.It involves the four majordecisions:1. Individual Product decision-It involves decisions related to product attribute, product branding, product packaging, productlabelingand productsupportservices.2. Product Line decision: It involves decision like ProductProductline stretching and Product Line filling.3. Product Mix Decision-It involves decision like Product mix width, Product mix length, Product depth, Product consistency.4. Product Positioning Decision.
What is product-policy decision?
Product Policy plays a very significant and crucial role in the product establishment and its growth in the market.The marketer has to keep mind the product policy decision while introducing a product.It acts asa tool in the hands of the marketer.It involves the four majordecisions:1. Individual Product decision-It involves decisions related to product attribute, product branding, product packaging, productlabelingand productsupportservices.2. Product Line decision: It involves decision like ProductProductline stretching and Product Line filling.3. Product Mix Decision-It involves decision like Product mix width, Product mix length, Product depth, Product consistency.4. Product Positioning Decision.
Is information essential for decision making?
Yes, information is essential for making informed and effective decisions. It helps individuals and organizations understand the situation, evaluate options, assess risks, and choose the best course of action. Without accurate and relevant information, decision-making can be limited or ineffective.
