<span>b. The second is lowest; the third is highest.
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Introduction Stage of the product life cycle will promotional expenditures be significantly high in an attempt to create consumer awareness of a product and its features.
Explanation:
We buy millions of goods every year as customers. And these goods have a life cycle just as we do.
The process of life of the product has 4 stages, each of which has specific characteristics, which mean different for the organisation trying to handle the life cycle of its individual products.
Introduction Stage : This stage of the cycle could make the company announcing a new product the most expensive. The item's market size is too small, which means that sales are weak, but they will be rise.
Growth Stage: The growth phase usually features a significant increase in sales and earnings, which will boost the gross margin as well as the general profit ratio as the enterprise will continue to benefit from economy of scale in manufacturing.
Maturity Stage: The product will now be developed during the maturity stage, and the manufacturer's goal will now be to maintain their market share.
Decline Stage: Ultimately, a commodity demand may continue to decrease, and this is known as the period of decrease.
Out of the choices provided above, it can be said that the current challenges in operations management include all of the following except increased communication cost. Therefore, the option C holds true.
<h3>What is the significance of communication costs?</h3>
Communication costs can be referred to or considered as the costs incurred by an organization to spread awareness and convey the message of achieving efficiency in the management, especially related to the operations of an organization.
Therefore, the option C holds true and states regarding the significance of communication costs.
Learn more about communication costs here:
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The details are important for settling on the models and patterns (designs and styles) for Zara's goods for the Upcoming few seasons.
Option-a
<u>Explanation:
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The collection of data is described as the approach of objective analytical observations utilizing standard established techniques compilation, calculation and evaluation. On the basis of data obtained, a scientist will test his hypothesis. In many other situations, the collection of data is the key phase for science, regardless of the area.
Based on the information required, the method of data analysis is unique for various subject areas of study. The main aim of the collection of data is to ensure that accurate information is gathered for statistical methods so that information-driven analytical decisions can be taken.
