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What type of business produces a tangible product?
A business that produces a tangible product is called a manufacturing business.
What is the definition of a manufacturing business?
A company that receives raw materials, then processes these materials in a manufacturing process that produces a finished product. Picture an automobile assembly line.
What kinds of competitive advantages can a multinational company have?
A multinational company can achieve competitive advantages through economies of scale, allowing it to lower costs and enhance profitability. It can leverage access to diverse markets for increased revenue opportunities and risk diversification. Additionally, such companies often benefit from local knowledge and resources, which can lead to better product adaptation and tailored marketing strategies. Finally, strong brand recognition and global supply chain efficiencies can further enhance their competitive position.
Which business structure is most suitable for garments business?
Most Suitable Structure is separating the system in 3 part 1. PDD (Product Design and Development) 2. SCD (Supply Chain Department) 3. P and S (Production and Shipment)
Can you think of a form of structure that is better suited to multi product multi service companies?
. Is another form of structural configuration better suited to multiproduct, multiservice companies?
If there are no readily available substitutes for a product it will tend to have what?
When there are more substitutes for a product, the ________ for the product is ________.
A product that has few substitutes tends to be?
Inelastic
Explain how a change in price affects the demand for a product substitutes?
The change in price can affect the demand for that product. If the price increases people will look for cheaper substitutes.
What are the characteristics of a product that make it superior to competitive substitutes are referred to as?
Pay attention in class, take notes, do your homework, read your marketing book and stop searching for answers to your homework/quizzes/etc. on the internet.
How do substitutes affect demand?
When the price of a product rises, the individual will look at alternatives ( substitutes ) that are cheaper but give him same satisfaction.
When does a firm have market power?
A firm is a monopoly if it is the sole seller of its product and if its product has no close substitutes.
Which is more likely to decentralize staff functions dedicating them to each business or product organization?
An effective organizational structure can create a competitive advantage by
What milk product was proposed as a subsitute for meat in the 1970's?
Soy was suggested as a substitute but is not a milk product. They were looking for protein substitutes in vegetables, not dairy substitutes. However in the 90's yogurt was suggested as a substitute.
What is product divisional structure?
What is product divisional structure?
What type of business produces a tangible product?
A business that produces a tangible product is called a manufacturing business.
What is competitive advertising?
competitive advertising means which reflects the market maturity of the product and the need for the company to show product superiority through comparison to competitors
If a firm is selling in an imperfectly competitive product market?
the marginal products of sucessive workers can be sold at a constant price
