ABC Company is engaged in the production of processed meats like tocino, chicken longganisa, pork longganisa, and siomai both chicken and pork. Their famous product is pork longganisa and it sells like a hot potato before the pandemic came. They are selling their products in their stall in the public market of Lipa. Their products are also available in their residence located in Brgy. Marawoy, Lipa City. Both locations are accessible to their suki, basically one of the reasons why their business is doing well. But because of the pandemic the sales of ABC Company were affected and slow down. On the first 5 months of the pandemic, the business is still earning profits but on the succeeding months, slowly they experience losses. Aside from the covid 19 pandemic, another factors that influence in the loss of the company is the price of the raw materials like pork and chicken. They have a total of 10 employees who are in charge in the production and in the stall. What solution would you suggest for ABC Company to avoid closure of the business? Use product life cycle and strategies per stage.
ABC Company is engaged in the production of processed meats like tocino, chicken longganisa, pork longganisa, and siomai both chicken and pork. Their famous product is pork longganisa and it sells like a hot potato before the pandemic came. They are selling their products in their stall in the public market of Lipa. Their products are also available in their residence located in Brgy. Marawoy, Lipa City. Both locations are accessible to their suki, basically one of the reasons why their business is doing well. But because of the pandemic the sales of ABC Company were affected and slow down. On the first 5 months of the pandemic, the business is still earning profits but on the succeeding months, slowly they experience losses. Aside from the covid 19 pandemic, another factors that influence in the loss of the company is the price of the raw materials like pork and chicken. They have a total of 10 employees who are in charge in the production and in the stall. What solution would you suggest for ABC Company to avoid closure of the business? Use product life cycle and strategies per stage.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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ABC Company is engaged in the production of processed meats like tocino, chicken longganisa, pork longganisa, and siomai both chicken and pork. Their famous product is pork longganisa and it sells like a hot potato before the pandemic came. They are selling their products in their stall in the public market of Lipa. Their products are also available in their residence located in Brgy. Marawoy, Lipa City. Both locations are accessible to their suki, basically one of the reasons why their business is doing well. But because of the pandemic the sales of ABC Company were affected and slow down. On the first 5 months of the pandemic, the business is still earning profits but on the succeeding months, slowly they experience losses. Aside from the covid 19 pandemic, another factors that influence in the loss of the company is the price of the raw materials like pork and chicken. They have a total of 10 employees who are in charge in the production and in the stall. What solution would you suggest for ABC Company to avoid closure of the business? Use product life cycle and strategies per stage.
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