A company employing a product development strategy would create a new product targeted to its current customers.
What is New Product Development ?
You can get the people in your division to come up with ideas for new products by following the given things mainly which revolves around reinforcing the novel ideas:
- As employees have direct contact with the customers so they have the better ideas about the customers needs and wants.
- Employees are well aware of the changing trends so they should be encourage to come up with the new and novel ideas for the new products.
- Ideas can come from any where, from any level of the organization so each and every single employee should be motivated to participate in idea generation activities.
The importance of doing customer research is to have a drive for new product development. A research can be effective in pointing out consumer trends and fads, as well as opening a direct customer communication channel that feels prestigious for having its requests valued by a company. Through concrete data of potential customers and new customers, an organization has the ability to meet the actual demand of potential customers and make possible adjustments to the production process.
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Answer:
Option (D) is correct.
Explanation:
It was given that video game is a normal good. We know that there is a positive relationship between the demand for a normal good and income of the consumer, hence, if there is an increase in the income level of the consumer then as a result the demand for a normal good increases which shifts the demand curve for normal good rightwards.
Therefore, this will lead to increase both equilibrium price and equilibrium quantity in the market for video games.
Answer:
$3540.
Explanation:
FIFO means first in, first out. It means that it is the first purchased inventory that is the first to be sold
Ending inventory comprises of goods bought in May, September and November
cost of the ending inventory :
(4 x $130) + (12 x $135) + (10 x$140) = $3540
Answer:
The answer is: globalization of production
Explanation:
Globalization of production to the business practice of increasing the flow of production factors from "cheaper" countries in order to lower their production costs. For example, cars are assembled using thousands of different auto parts, a lot of them are produced in the US, but a large portion are imported parts form countries like China, Mexico, EU, etc. Many times the auto parts are manufactured by the same corporation but on different locations, e.g. BMW produces engines in Germany and SUVs in the US, 3M produces auto parts in the US, Brazil, China, Mexico and several other countries and sells them all in the US.
The appropriate response is two strengths and one threat. Jake had two qualities (these are inward to the operation): (1) $100,000 financing, (2) three talented installers. He had one danger (outer to the operation): (1) poor economy prove by almost no new development and property dispossessions
