The price of an item and what peple are willing/able to pay for that item.
Answer: Product diversification
Explanation:
Product diversification is the expansion of the original market for a particular product. Product diversification strategy increases the sales that is associated with a product line and is also useful for a business which has been having
declining or stagnant sales.
Product diversification allows for more options and variety for goods and services, boost a company's brand image and increases a company's profitability. Product diversification can also be used by a firm to protect itself from competitors.
Answer:B. mission statement
Explanation:A mission statement is a statement that is short and outline the purpose of an organization , their overall goals and why they operate , their product and services , and the fundamental values that drives that company and what they vision is for their future. This statement is the clear direction to the employees on what the company aims to accomplish and and it make it clear to the employees what is the purpose of the company.
In the production of corn meal for baking, corn is ground. This conversion process is an example of process manufacturing.
What is process manufacturing?
- Process manufacturing is a branch of manufacturing that is associated with formulas and manufacturing recipes and can be contrasted with discrete manufacturing, which is concerned with discrete units, bills of materials and the assembly of components.
- Process manufacturing is also referred to as a 'process industry' which is defined as an industry, such as the chemical or petrochemical industry, that is concerned with the processing of bulk resources into other products.
- Process manufacturing is common in the food, beverage, chemical, pharmaceutical, nutraceutical, consumer packaged goods, cannabis, and biotechnology industries.
- In process manufacturing, the relevant factors are ingredients, not parts; formulas, not bills of materials; and bulk materials rather than individual units.
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