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Ierofanga [76]
3 years ago
7

Vaseline, the world's most famous—and priciest—brand of petroleum jelly, wants to improve its financial performance (i.e. revenu

e and profits) for its shareholders. It already enjoys 85% market share (the other 15% is owned among generic store brands that are sold at a big discount). You are consulted by their Chief Marketing Officer. What do you tell the CMO about how to improve Vaseline's performance?
Business
1 answer:
ohaa [14]3 years ago
6 0

Answer:

Please consider the following explanation

Explanation:

Vaseline can improve its financial performance by doing some product differentiation, as the rest 15% are also selling petroleum jelly but at much lower costs than Vaseline, and to convince its customers to spend extra bucks to buy Vaseline, it needs to provide something extra.

Vaseline can incorporate extra ingredients like aloevera, or turmeric, etc, i.e. the beauty or health fashions prevalent in the market this information can be obtained by a thorough research of the beauty blogs available online.

Once the product has something extra, Vaseline can go ahead and market its product better based on the benefits of the product differentiation, and hence steam away market from the remaining 15% and increase its financial performance.

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4 0
3 years ago
Ben Lieber is a waiter at Harbor House, where he receives a weekly wage of $80 plus tips for a 40-hour workweek. Lieber's weekly
Dmitriy789 [7]

Answer:

$290

Explanation:

Fair labour standards act is a Federal law that specifies minimum wage, overtime pay eligibility, child labour standards, and record keeping which affects employees of both private and government institutions.

The Fair labour standards act state that the minimum wage an employee should collect per hour is $7.25.

So for a 40 hour week the minimum wage for Ben Lieber is 7.25* 40= $290

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2 years ago
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3 years ago
When they first started to conduct business, international ride-sharing companies such as Uber or Lyft relied on new, unfamiliar
kobusy [5.1K]

Ride sharing is transformational innovation, according to the innovation matrix.

Uber and Lyft use transformational innovation

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  • Companies like Uber use credit and debit cards for reservations, a novel tactic.
  • Such ideas were virtually unknown to markets in many nations.
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To learn more about transformational innovation, refer to-

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