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IgorLugansk [536]
2 years ago
9

Each Cutco knife goes through 30 steps to ensure that it meets the firm's standards and provides a good value for a premium prod

uct. These steps help guarantee that each knife has the same degree of quality over time, which is known as _______.
a.product design

b.product differentiation

c.consistency of quality

d.level of quality

e.product modification

Cutco promotes and prices its knife products to convey its premium quality and backs them with exceptional customer service to make its products stand out in a crowded market. Which of the following terms is used to describe the process of creating and designing products so customers perceive them as different from competing products?

a.Quality differentiation

b.Line extension

c.Product differentiation

d.Product modification

e.Product design

When Cutco introduced pink-handled products and made a donation for every pink-handled knife sold, it was using _______.

a.product differentiation

b.product modification

c.perceptual mapping

d.product positioning

e.line extension

Cutco competes on the basis of its products' value, premium quality, exceptional service, and the fact it is "made in the USA." This illustrates Cutco's _______.

a.positioning

b.product modification

c.quality modification

d.product differentiation

e.promotion
Business
1 answer:
Yuki888 [10]2 years ago
8 0

Answer 1: Consistency in quality

Explanation: Consistency in quality means that an organization tends to brings about a an overall consistency among the employees and the goals of the company. This leads to the outcome of quality consistent product by defining developmental steps and processes.

In above scenario, the 30 steps of knife making make sure that each knife is consistent with defined quality goals of the organization and its reputation.

Answer 2: Product differentiation

Explanation: Product differentiation is a concept in which a company tends to present its products to the market in a way that it establishes a specific place in the market and in ts own product line.

The product development consists of high quality materials and the final product stands out in the market. The market of such products is very niche. The Knife Cutco is promoting, is going through the product differentiation phase.

Answer 3: Product positioning

Explanation: Product positioning is a phenomenon in which a company positions their products in the minds of the consumer. They build an imagery of their product which is thought on every mention of that product.

When Cutco decided to make a donation with every pink handled knife sold, it was creating a perception of Goodwill attached to this product. It automatically attracts the donaters and do good people in the market.

Answer 4: Promotion

Explanation: Promotion is one of the biggest reasons why a product move ahead in the priority list of the customers. It enhances the positives and hides the negatives and creates a perception in the minds of the customers.

Cutco promotes its products on the basis of its products' value, premium quality, exceptional service, and the fact it is "made in the USA." This segregates them from the rest of the market and pushes it in the front row, by creating trust and reputation.

Therefore, this represents Cutcos' promoting strategies and efforts.

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If amazon had decided to design and manufacture the kindle and all its components in the united states, what do you think the co
Scrat [10]

Answer:

Brief summary of the case:

The case deals about the evolution of kindle by Company A. When the company decided to introduce kindle, its price was $399 in 2007. Company A understood that to be successful against the huge competitors, kindle must be priced low. It must be highly reliable, many features and elegance must be provided in the design of kindle. "Company A- designed kindle in State C where the research and development expertise is available.

Market research firm "IS," estimated that the manufacturing cost of kindle is about $185. The expensive components of the kindle are the display used in the Electronic ink technology and wireless cord. Company A contracted with Country C's company to produce the display. A manufacturer in Continent A produced a wireless cord of $13. Many components were contracted to the different countries to reduce the cost of the kindle to be competitive. Now, kindle became the competitor to the massive companies.

Determine if the company has decided to manufacture all the components of Electronic reader K in Country U:

If Company had decided to manufacture all the components in Country U, then it would have been more expensive. Company A cannot sell that at an affordable price. Increase in the cost of the components would increase the overall cost of the Electronic reader K. The most important strategy of Company A is to minimize the cost of the product to increase the number of sales.

Increase in the manufacturing cost will dilute their competitive advantage and it increases the cost of the product. It will lower the sales and the buyers would prefer to use the competitors' products, which are cheaper.

Determine if the company has decided to manufacture all the components of Tablet F in Country U:

It would be expensive if they decide to manufacture the components in Country U. It will not affect the sales number like Electronic reader K. as Tablet F is multipurpose. People will prefer quality and specifications than price.

Conclusion:

Manufacturing in Country U would be expensive and it increases the overall cost of the product. It would affect sales of the products.

3 0
3 years ago
The current spot exchange rate is $1.55/£ and the three-month forward rate is $1.50/£. Based on your analysis of the exchange ra
Misha Larkins [42]

Answer:

b. Buy £1,000,000 forward for $1.50/£.

Explanation:

Let's say for instance, we agree to make purchase of €1,000,000 and then forward for $1.50/€ and we assume that the price turns out to become $1.62/€ in three months time, the expected profit will be $12,000 = €1,000,000 ($1.62 - $1.50)As we can see, answer d looks convincing from an accounting standpoint, but it is wrong because the question asks us to make money with a forward contract, not by holding a particular spot. The correct option should be option b.

4 0
3 years ago
In much of the country, homeowners choose to heat their houses with either natural gas or heating oil. Which of the following wo
nikdorinn [45]

Answer:

1. a decrease in the price of natural gas

Explanation:

Given that homeowners choose to heat their houses with either natural gas or heating oil. It means that natural gas and heating oil are substitute products.

If there will be an increase in the demand for natural gas, there will invariably be a decrease in demand for heating oil.

From the options given, a decrease in the price of natural gas will result in and increase in it's demand.

5 0
3 years ago
Units Produced 20,000
Alexeev081 [22]

Answer:

Instructions are below.

Explanation:

Giving the following information:

Units Produced 20,000

Units Sold 17,000

Unit Sales Price $ 240

Full Manufacturing Cost Per Unit $97

<u>Under the absorption costing method, the fixed manufacturing overhead is part of the product cost.</u>

Income statement:

Sales= (17,000*240)= 4,080,000

Cost of goods sold= (17,000*97)= (1,649,000)

Gross profit= 2,431,000

Variable Selling Expenses=  (71,000)

Fixed General and Administrative Costs= (88,000)

Net operating income= 2,272,000

3 0
3 years ago
Why does the free-market system require government regulation? Companies can't be efficient or innovative on their own. Foreign
melomori [17]

Answer:

The correct answer are the option B and C: Foreign competition would wipe out domestic production and producers are driven by the profit motive to work against competition.

Explanation:

First of all, the huge companies, and that includes the foreign competition, will always wipe out the small ones and that situation will definitely impact in the domestic economy of a country by leaving without work to the other enterprises and their employees, also by increasing prices and obligating to the customers to buy them due to their power in the industry and more. That is why, government regulation is obviously needed in the free-market system because if there is not, then the leader organization will do as they please with the market.

Secondly, the companies are lucrative organization and therefore that the most important thing that they care about is to make money by producing goods or giving services to the community that need it. That is why, if there is not government then the most powerful companies would try to eliminate the small ones by taking all their consumers away.

8 0
3 years ago
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