Answer:
We feel that the big data approach is applicable for all three of Gap Inc.’s brands, although the biggest insights from the information collected will come from the brand that has the greatest product diversity. Banana Republic is Gap’s most targeted brand with its expensive price points, so designers already have a relatively good idea of what their customers are looking for. The target customer is upscale, predominantly female, and interested in a classic look. The variability in design for the brand is least among Gap’s, but still significant so the ability to assess the success
of product offerings in real time is extremely valuable. Similar to the model used by Netflix, withonline shopping Gap does not have to rely on feedback from just the very few customers that choose to comment on and rate products that they purchase.With the introduction of “Product 3.0”, the trends seen at Banana Republic and the Gap were able to cascade down into the less expensive, family brand of Old Navy. This allowed for consumers of all income brackets to be touched. All brands had a clear vision with common ground, being more predictive and demand driven based on data analytics. This sharing of information benefits all of the brands by better streamlining products towards market trends. Since Old Navy and Gap have a greater number of SKU’s, they will have an even greater benefit from big data. But managing, purchasing and inventories for these companies is even more challenging, and having to deeply discount unsuccessful SKU’s can be unavoidable. But minimizing these unsuccessful products can be achieved through big data by analyzing how well a product performs before waiting to receive customer feedback. Gap can emulate fast fashion companies like Zara who keep production runs short, even shorter for unsuccessful runs, and create a sense of urgency from the customer without complicating the customer’s decision process with an inevitable sale
Explanation:
Answer:
A. the atmosphere, spirit and character that pervades the work climate and the values, business principles, and ethical standards that management preaches and practices
Explanation:
Culture is the normally acceptable social behaviour that is expected from someone in a group. It includes beliefs, knowledge, art, law, capabilities, and habits of the group.
The process by which the culture of a group is imbibed is through learning and socialisation.
The norm of a group is the acceptable way one is expected to behave in the group. Like the way one dresses and language.
A company's culture is expressed in the spirit and character that pervades the work climate and the values, business principles, and ethical standards that management preaches and practices.
Answer:
$16.26
Explanation:
The break-even point is the level of sales at which the business incur no profit no loss.Fixed and variable costs are covered at this level of sales. Use following formula of break-even to calculate the fixed cost.
As we know that
Break-even price per unit = Variable cost per unit + Fixed cost per unit
Break-even price per unit = ($987,493/84,000) + ($378,674/84,000)
Break-even price per unit = $16.26 (Rounded to 2 decimal places )
New goods or Services or Improvement in offering goods or services.
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Innovation is the process and outcome of creating something new, which is also of value.
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Answer:
Dave's marginal revenue from selling milk is $ 5.
Explanation:
This problem requires us to calculate Dave's marginal revenue from selling milk. The marginal revenue is calculated by subtracting current reveue form the expected or forecasted revenue. Detail calculation is given below.
Current reveune = 4 * 5 =20 dollars -A
Expected Reveunue = 5 * 5 = 25 dollars -B
Marginal revenue = A-B = 25- 20 = $ 5
