Using the ob concepts and tools that best suit the situation is called a(n) <u>contingency approach</u> to management.
<h3>What is a contingency approach?</h3>
This approach to management is also known as the situational approach and holds that there is no single or textbook rule for the best way to manage an organization..
Most time, the contingency approach to management is based on the idea that there is no single best way to manage the resources.
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<span>Although a profitable surplus of products was maintained, money was as scarce in the colonies as it was in England. Whenever gold or silver was earned from exported products, it had to be sent to England to pay debts or to import needed goods. This produced an environment where money was scarce even despite the decent profit earned from crops.</span>
Six-packs of soda, cartons of eggs, and three-packs of paper towels are all examples of products sold using a block pricing strategy.
A product is an object, system, or service provided to consumers on demand. That's all we can offer to the market to meet your wants and needs.
Item is for sale. Products are services or items. It can be in physical or virtual or cyber form. All products are made at one price and sold at one price. Calculated prices vary by market, quality, marketing, and target segment.
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Answer:
Option A; INCREASED COMPETITION FROM IMITATORS.
Explanation:
Innovation occurs only when something is entirely new, having never been done before. Innovation also exist when something which may have been done elsewhere is done for the first time in a given industry.
On the other hand, when other competitors in the same industry subsequently copy the innovator, even though it is something new for them, then it is imitation.
When a company comes out with a new product, its competitors typically go on the defensive, doing whatever they can to reduce the odds that the offering will eat into their sales. Responses might include: cranking up marketing efforts, offering discounts to channel partners and even lobbying for regulations that would hinder the rival's expansion.
Therefore, Lilypad's managers should prepare for INCREASED COMPETITION FROM IMITATORS next.
D. It keeps prices fair for consumers
