Compare and contrast the three types of product modifications and give an example of how each could be implemented.
What will be an ideal response?
QUALITY MODIFICATIONS entail changing the product's dependability or durability. A company could reduce the product quality of some of its offerings to enable a lower price, which would appeal to a broader or price-sensitive target market. It could also increase quality, which would give the corporation a competitive advantage, encourage brand loyalty, allow higher prices, or provide new market segmentation opportunities.
FUNCTIONAL MODIFICATIONS are changes in a product's versatility, effectiveness, convenience, or safety. A company could add further capabilities to its patio furniture such as making it mildew-resistant, designing it to fold and store easily, and adding wider seats for greater comfort. The furniture could also add a safety feature to prevent unfolded furniture from collapsing when someone sits in it.
STYLE MODIFICATIONS are aesthetic product changes. A company could make its product more fashionable.
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This question contains two parts; be sure to answer both. First, define a virtual team and explain some of its benefits. Second, suppose you are the leader of a virtual team that writes test questions for the SAT test. Your team is composed of six members who live and work in three different countries—question writers, question testers, and administrative assistants. What are some of the challenges you might face in leading the team, and what techniques might you use to face those challenges?
What will be an ideal response?
Liabilities have which of the following two major categories?
A) Accounts payable and notes payable B) Contributed capital and retained earnings C) Current and long term D) Unearned revenues and other payables
Rapala VMC CorporationFinland-based Rapala VMC Corporation is the world's largest fishing lure manufacturer. It developed its first fishing lure--a cigar-shaped minnow--in 1962. The annual market for fishing lures in terms of retail sales is approximately $600 million. Rapala VMC garnered one-third of that amount in 2008. New lures must be introduced each year in order to stay competitive in this industry. Like other lure manufacturers, Rapala focuses on two questions in developing and making new lures: Does it work, and does it look good? Developing a new lure takes two or three years and involves extensive field testing by tournament professionals and fishing guides. At the annual fishing industry trade show in 2008, Rapala unveiled the "dream lure for the 21st century."Refer to Rapala.
The testing of new lures by tournament professionals and fishing guides would take place in which stage of new-product development? A. commercialization B. idea generation C. idea screening D. concept testing E. product development
Major hurdles facing mobile game publishers include each of the following except
A) lack of standards. B) different software and hardware. C) international laws and regulations. D) increasing costs.