Writes in their own language as used colloquially.
Answer:
Correct option is (a)
Explanation:
For any venture to be successful, it starts with a vision or idea. In this case, Greg is confident that he will be able to convince US Car manufacturers to purchase his fuel efficient car even though his friends were doubtful if his product will be accepted by car manufacturers.
He also had a clear vision as his goal was to make US economy energy efficient. Vision is to have a positive outlook regarding future.
It can be inferred that Greg has both vision and confidence
Answer:
Answer to each part of the question is given below separately under specific headings with detailed explanation.
Explanation:
<u>a) Branding strategy recommendation</u>
The branding strategy they should opt is a multi-branding strategy, in which a company's objective is to market more than one product and/or brand under the same hood in order to increase their overall market share. This strategy is somewhat used by other known car manufacturers such as Toyota (Lexus), Honda (Acura) etc.
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<u>b) Branding strategy trade-offs</u>
The trade-off with this strategy is that the attention of Ferrari would be diverted from their main market segment and therefore, they will not be providing new products to the luxury market.
This will give the other companies in the same market segment the opportunity to increase their market share in the same segment.
<u>c) Opinion on the trading-down strategy</u>
It is fairly a risk for Ferrari to opt for the trading down strategy. This is due to the fact that their main market and objective is the luxury market to buy their expensive cars. Focusing on the new strategy could hurt their brand equity and this may impact their loyal buyers.
However, such could be avoided if they market this strategy with a foreign brand name and promote the name under the Ferrari hood by saying that the foreign brand has been designed by the Ferrari. Keeping the original Ferrari name and objective separate from this brand.
Answer:
C). Obsolescence
Explanation:
Obsolescence is defined as the 'state of being obsolete or no longer in use' as the better alternate options become available in the market which possesses the ability to offer higher productivity. It is 'the expected consequence of a technology that enhances briskly and alternative service options with upper quality become accessible.' The producers are more likely to switch to the alternate not always due to the uncompetitiveness of the present technology but also due to the higher advantages and yielding capacity of the new option. Thus, <u>option C</u> is the correct answer.
Answer:
Equivalent Units of Production (EUP) = 3,520 units
Explanation:
Units Completed = Beginning inventory units + Units Started - Ending Inventory
Equivalent Units of Production (EUP) = Beginning Work in Process (WIP) + Started and Completed Units + Ending Work in Process (WIP) x % of conversion
Units Completed = 200 + 3,200 - 400 = 3,000
EUP = 200 + 3,000 + 400 x 80% = 3,520