Answer:
This is an example of:
4. product adaptation
Explanation:
Product adaptation is the process by which the management of a company changes product features to meet the needs of specific consumers. It can involve the improvement of a key feature that meets customer demand. This improves a company's competitive advantage over it's rivals. There are various reason as to why a product might need to be improved, namely;
1. To meet the regulatory standards in that particular area. Maybe the specification standards has changed, so the company also adjusts it's products to fit into the threshold of the required standards.
2. To make the product more attractive to a particular audience.
In general, product adaptation is meant to increase the market share especially in a business environment that is always changing with respect to customer needs and business regulations. An increased market share for the improved products usually translates to increased profit margins. Big profit margins is usually considered as a sign of success by most commercial businesses.
Answer:
A. Rely on primary sources of information and avoid secondary sources.
Explanation:
Decision means establishing a goal. A goal is a set of objective which a firm seek to achieve.
Primary sources of information are information obtained directly about people or an event. They include statistical data, accounts of eye witness, report of newspaper, speeches etc. In primary source of information, information are gotten from people who have direct contact with it.
Secondary source of information are information gotten either through interpretation or quotes . Examples include books on a topic, articles.
It is important that effective decision maker rely on primary source of information because he or she has a first hand experience or account of information on which decision will be made rather that secondary sources which rely on quotes and may sometimes be exaggerated.
<u>Full question:</u>
There are approximately 1 billion people living in India. Only about 200 million of these people earn more than the equivalent of $1,000 per year. According to Maslow's hierarchy, most of the other 800 million Indian consumers are primarily addressing their __________ needs.
a. social
b. esteem
c. psychological
d. physiological
e. Personal
<u>Answer:</u>
According to Maslow's hierarchy, most of the other 800 million Indian consumers are primarily addressing their physiological needs.
<u>Explanation:</u>
Abraham Maslow's 'Hierarchy of Needs' offers a five-stage design of the impulses following human behavior. At the base of this hierarchy endure our primary, survival-ensuring necessities, which Maslow pointed to as our physiological needs. If certain needs are not convinced the human body cannot function optimally.
The primary physiological needs are fairly apparent—these cover the items that are essential to our survival. To progress over the other stages of the hierarchy, we necessity primary perform these primary needs.