As a fine chef Andrew Smith believes there is a market for the highest quality organic cheese. He believes that discriminating home cooks as well as chefs in fine restaurants would be willing and able to pay a premium price for such a product. He also believes that the marketplace would attach significant value to such a product based upon its origin in Pennsylvania. Tim has assembled information from the Internet about several companies that produce and sell organic cheese. He has found that some producers have taken a high volume approach and distribute their products through a national distribution network at only a slight premium in price over traditional cheese products. These cheese producers stress the organic nature of their cheese to differentiate their product. Others appear to have positioned themselves as sources of a particularly high quality product that also happens to be organic, and have priced their cheese at a significant premium. Of the various segmentation bases discussed in the case, which seem to be the most appropriate for Andrew cheese? How might Andrew address the problem of differentiating and positioning his cheese product?
Critical Path Method
The critical path is the longest succession of tasks that has to be successfully completed to conclude a project entirely. The tasks involved in the sequence are called critical activities, as any task getting delayed will result in the whole project getting delayed. To determine the time duration of a project, the critical path has to be identified. The critical path method or CPM is used by project managers to evaluate the least amount of time required to finish each task with the least amount of delay.
Cost Analysis
The entire idea of cost of production or definition of production cost is applied corresponding or we can say that it is related to investment or money cost. Money cost or investment refers to any money expenditure which the firm or supplier or producer undertakes in purchasing or hiring factor of production or factor services.
Inventory Management
Inventory management is the process or system of handling all the goods that an organization owns. In simpler terms, inventory management deals with how a company orders, stores, and uses its goods.
Project Management
Project Management is all about management and optimum utilization of the resources in the best possible manner to develop the software as per the requirement of the client. Here the Project refers to the development of software to meet the end objective of the client by providing the required product or service within a specified Period of time and ensuring high quality. This can be done by managing all the available resources. In short, it can be defined as an application of knowledge, skills, tools, and techniques to meet the objective of the Project. It is the duty of a Project Manager to achieve the objective of the Project as per the specifications given by the client.
As a fine chef Andrew Smith believes there is a market for the highest quality organic cheese. He believes that discriminating home cooks as well as chefs in fine restaurants would be willing and able to pay a premium price for such a product. He also believes that the marketplace would attach significant value to such a product based upon its origin in Pennsylvania. Tim has assembled information from the Internet about several companies that produce and sell organic cheese. He has found that some producers have taken a high volume approach and distribute their products through a national distribution network at only a slight premium in price over traditional cheese products. These cheese producers stress the organic nature of their cheese to differentiate their product. Others appear to have positioned themselves as sources of a particularly high quality product that also happens to be organic, and have priced their cheese at a significant premium.
- Of the various segmentation bases discussed in the case, which seem to be the most appropriate for Andrew cheese?
- How might Andrew address the problem of differentiating and positioning his cheese product?
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