The <u>most likely outcome</u> when a firm is thinking about adding a product to its product line is D. The new product can be advertised alongside existing products
<h3>What is product advertising?</h3>
Product advertising:
- Is a management effort geared towards creating a demand for a product.
- Promotes consumer awareness.
- Fosters consumer interest in the product.
- Encourages consumers to make purchase decisions quickly as they see the product.
Thus, most likely, adding a product to the product line will help the new product to be advertised alongside existing ones.
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<h3>Question Completion with Answer Options:</h3>
A. It will be difficult to manufacture the product.
B. The company will have to work hard to build up the brand.
C. The new product is certain to be accepted by the market.
D. The new product can be advertised alongside existing products.
E. It will take a long time for customers to feel loyal to the product.
Answer:
A) it will need to sale 5193 pizzas
B) selling 20 per day it will take 260 days
C) if price decrease by 1 dollar to 7.95 the new BEP will be 6,429 dollars
and will take 322 days to achieve break even
Explanation:
fixed cost: 27,000 oven
sales price 8.95
variable cost 3.75 frozen pizza:
contribution margin: 5.2
break even:
27,000 dollars / 5.2 dollar per pizza= 5.192,30
5,192 pizzas / 20 per day = 259.6 days
If sale price decrease by one dollar:
27,000 dollar / 4.2 contribution per pizza= 6.428,57
6,429 / 20 per day = 321.4
There are various decision making styles of managers, the 4 different kind of manager decision making styles are listed below,
1. Directive
2. Analytical
3. Conceptual
4. Behavioral
Each of these method depend on the style of manager and the situation he is facing.
The directive style decision making style is used for firm decision making, in which ideas are not appreciated by the juniors. This is an aggressive decision making style
Analytical decision making style is one which focuses on finding the best possible solution to the problems after considering all alternative solutions
Conceptual decision making style is one in which managers are achievement oriented and they wish to see brighter future.
Behavioral decision making style is one in which nature of manager is persuasive and he believes gathering ideas from colleagues before making a decision.
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According to the situational model, your level of development is D4.
Explanation:
The situation leadership approach, created through control of organisation's activities by Paul Hersey and Ken Blanchard, is a guide. The theory was published as the "life cycle leadership hypothesis" in 1969.
The model of situation leadership used by Blanchard in its definition of various levels of development, the words "voice" (ability, knowledge and skills) and "commitment" (esteem and motivation).
According to Ken Blanchard, "The so-called quality stage is composed of the four combinations of expertise and dedication"
D1 – Low competence with high commitment
D2 – Low/middling competence with low commitment
D3 – High competence with low/variable commitment
D4 – High competence with high commitment
Student responses will vary, but should follow the behavioral question response model.
1. Describe the situation.
2. Explain the actions taken.
3. Describe the outcomes.
4. Summarize what was learned from the experience.
You should start by recalling a time when you had to make a choice that was paradoxical, unexpected, or curious.
Procedure for writing the text:
- Give a brief overview of the decisions that had to be made.
- Indicate the choice you've made.
- List the factors that contributed to your decision.
- Give an explanation of what makes this decision unusual.
- Show how the public responded to that choice.
- Indicate the outcomes that the choice fostered and whether they were favorable or unfavorable.
Remember that your response must be unbiased while also deeply addressing your experience.
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