Over the four marketing eras, how did the emphasis on the four Ps change? List the four eras and describe which of the four Ps were emphasized during each era.
What will be an ideal response?
During the production-oriented era, the focus was on the product. During the sales-oriented era, the emphasis was on promotion, particularly selling and advertising. During the market-oriented era, the emphasis was on producing and providing (place) what customers wanted. In the value-based marketing era, all four Ps are equally important to delivering customer value.
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An external issue to be considered when setting a price is
A) the quality of materials and labor. B) total demand for the product or service. C) usage of scarce resources. D) the variable costs of the product or service.
Eagle Fabrication has the following aggregate demand requirements and other data for the upcoming four quarters
Quarter Demand Previous quarter's output 1500 units 1 1300 Beginning inventory 200 units 2 1400 Stockout cost $50 per unit 3 1500 Inventory holding cost $10 per unit at end of quarter 4 1300 Hiring workers $4 per unit Laying off workers $8 per unit Unit cost $30 per unit Overtime $10 extra per unit Which of the following production plans is better: Plan A—chase demand by hiring and layoffs; or Plan B—produce at a constant rate of 1200 and obtain the remainder from overtime?
An appropriate objective for a manufacturing firm is to maximize total inventory
Indicate whether the statement is true or false
A common focus of financial statement users in evaluating a company's performance and financial condition includes evaluating its (1) ________, (2) ________, and (3) ________.
What will be an ideal response?