) Conduct a PEST analysis of a company that you know. Discuss briefly how PEST factors affect the operation of the company. Make recommendations
Q: What is the price at which the product is starting to be perceived as expensive?
A: Pricing can be explained as the process of setting a price for a product or service at which it will…
Q: How branding helps a firm to introduce a new product that carries a familiar brand?
A: By limiting branding to its aesthetic component: visual identity, it was misunderstood. Some people,…
Q: Define the term product.
A: Market demonstrates a places which is solely used for buying and selling process. Market could be…
Q: What Is Price?
A: Marketing mix is essential strategy which presents the entire marketing planning of the business. It…
Q: Could you please provide a personal example of visiting the Service to the Public Sector (e.g., the…
A: Due to strict adherence to the guidelines of Bartleby, while answering the question, we are allowed…
Q: Define differential pricing.
A: There are various pricing methods used by firms. For example, there is price skimming method, in…
Q: What is the impact of the Extranet on marketing?
A: Concept Of Extranet - Extranet, is a kind of concept, which is defined as the controlled private…
Q: What is the importance of possession utility?
A: The economic utility can be defined as the total amount of satisfaction gained from consuming a…
Q: Why the process of market segmentation is required?
A: Market- It is a place where sellers and purchasers can meet to facilitate the transaction or…
Q: What is meant by product-line pricing?
A: A set of products that need to differentiate through price and features at different price points…
Q: What is the difference between brand insistence and brand preference?
A: A brand can be denoted as a name, symbol, design, word, or sentence that differentiates a product…
Q: What is periodic discounting?
A: Periodic discounting is a marketing approach in which a seller chooses to adjust the price of a good…
Q: Why production and marketing costs have become the most important determinant of profit?
A: A company will create value for shareholders in terms of profits and for customers in terms of…
Q: Explain International Organization for Standardization (ISO).
A: The International Organization of Standardization (ISO) is an international organization that looks…
Q: What are imitative products?
A: Businesses that enter a crowded market with many visible or innovative competitors are using…
Q: Describe the role of pricing during periods of inflation and recession?
A: The process of establishing how much money a manufacturer will get in exchange for services and…
Q: Explain the techniques of employee training and development.
A: Employee training and development initiatives are educational activities carried out within a…
Q: What is the difference between disposable income and discretionary income?
A: Disposable Income-After taxes, disposable income is the amount of money accessible to an individual…
Q: Define line extension.
A: Line extensions occur when a company introduces new flavors, forms, colors, added ingredients, or…
Q: What is a product mix?
A: A product is an item that a company makes or buys to meet the needs of its customers. It is the…
Q: Explain how discounts, geographic pricing, and other pricing tactics can be used to fine-tune the…
A: There are various pricing strategies used by firms to sell their products upto greater extent. For…
Q: How multiple channels are used to increase sales or to capture a larger share of the market?
A: Multichannel marketing combines various platforms to increase the frequency and reach of your…
Q: Differentiate premium pricing and capitive pricing.
A: Premium Pricing: Premium pricing is a marketing strategy that entails strategically pricing your…
Q: What is the importance of screening of products?
A: Every company will think strategically and will inculcate his mentality into its culture. This will…
Q: What three factors led to the Apple iPad/iPad revolution?
A: The widespread availability of large-screen phones and the greater portability of current laptops…
Q: What are the advantages of Multiple-unit packaging?
A: Packaging, in its most basic form, relates to the design and development of the wrapping material or…
Q: Which issues should be considered when selecting a brand name?
A: A good brand name should be unique and distinctive so that the target customers can easily recognize…
Q: What is the effect of diminishing marginal utility on quantity demanded ?
A: As indicated by the law of decreasing negligible utility, as an individual consumes a thing or an…
Q: What is meant by comparison discounting?
A: Determining the present value of a future payment or stream of payments is known as discounting.…
Q: How organization ensures that its employees are motivated or not?
A: Employee motivation is essential for reasons which are numerous. It notably assists management in…
Q: How product life-cycle leads to new product development?
A: Marketers, executives, and designers all benefit from understanding the product life cycle. It…
Q: What is break-even analysis?
A: Break-even analysis is a useful and popular tool for a wide range of businesses, including…
Q: What is the growth stage?
A: Product life cycle or PLC is effective strategy to manage the entire life cycle of the product in…
Q: How does the marketing environment affect a firm’s marketing strategy?
A: When developing and presenting a new product, everything your company must consider is the marketing…
Q: Explain the process of labeling of products.
A: Labelling and packaging are concepts of marketing and branding. Attractive labeling and packaging…
Q: Who are agents and brokers in business?
A: A business broker is a person or company who specializes in the purchase and sale of small, main…
Q: State the three major pricing methods that firms employ.
A: Pricing is a Marketing concept. It helps the company to generate profits for shareholders and for…
Q: How packaging is a vital part of the product?
A: First impressions are very important, and your packaging is often the first consumer introduction to…
Q: Explain the process of market segmentation.
A: Market segmentation, at its heart, is the strategy of breaking your target market into accessible…
Q: State motivation factors that Herzberg found in his theory.
A: Motivation is the reason for will, desire, and goals. The word motivation is derived from motive.…
Q: Name the different channels of distribution generally are used to move consumer and business…
A: Distribution is said to procedure used to spread the product in different market places at different…
Q: Define product deletion.
A: No manager wants to be associated with a product failure, so he or she may either abandon the…
Q: What is meant by total revenue?
A: Revenue is the total amount of money a company earns from selling products and services at a set…
Q: What steps are performed before a product’s price can be set?
A: Product Pricing: Product pricing is the process of converting a product's value into a numerical…
Q: Define database.
A: A collection of distinct small units of information is referred to as data. It can take many…
Q: What is the impact of the Internet on marketing?
A: The internet platform offers several media options for advertisers to conduct their marketing…
Q: State the types of benefits an employee can receive from a firm.
A: Employee benefits are accompanied by salary, which is offered by a company. These benefits are…
Q: What is the difference between Institutional markets and governmental markets?
A: Institutional and government markets make up a not-for-profit market with the primary goal of…
Q: State the variety of useful resources for secondary information.
A: Marketing research is one of the primary function of marketing which is performed prior to all other…
Q: What is meant by Brand equity?
A: Indeed, many businesses are frequently referred to by their brand, which means they are frequently…
2) Conduct a PEST analysis of a company that you know. Discuss briefly how PEST factors affect the operation of the company. Make recommendations
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- Scenario 4 Sharon Gillespie, a new buyer at Visionex, Inc., was reviewing quotations for a tooling contract submitted by four suppliers. She was evaluating the quotes based on price, target quality levels, and delivery lead time promises. As she was working, her manager, Dave Cox, entered her office. He asked how everything was progressing and if she needed any help. She mentioned she was reviewing quotations from suppliers for a tooling contract. Dave asked who the interested suppliers were and if she had made a decision. Sharon indicated that one supplier, Apex, appeared to fit exactly the requirements Visionex had specified in the proposal. Dave told her to keep up the good work. Later that day Dave again visited Sharons office. He stated that he had done some research on the suppliers and felt that another supplier, Micron, appeared to have the best track record with Visionex. He pointed out that Sharons first choice was a new supplier to Visionex and there was some risk involved with that choice. Dave indicated that it would please him greatly if she selected Micron for the contract. The next day Sharon was having lunch with another buyer, Mark Smith. She mentioned the conversation with Dave and said she honestly felt that Apex was the best choice. When Mark asked Sharon who Dave preferred, she answered, Micron. At that point Mark rolled his eyes and shook his head. Sharon asked what the body language was all about. Mark replied, Look, I know youre new but you should know this. I heard last week that Daves brother-in-law is a new part owner of Micron. I was wondering how soon it would be before he started steering business to that company. He is not the straightest character. Sharon was shocked. After a few moments, she announced that her original choice was still the best selection. At that point Mark reminded Sharon that she was replacing a terminated buyer who did not go along with one of Daves previous preferred suppliers. What should Sharon do in this situation?Scenario 4 Sharon Gillespie, a new buyer at Visionex, Inc., was reviewing quotations for a tooling contract submitted by four suppliers. She was evaluating the quotes based on price, target quality levels, and delivery lead time promises. As she was working, her manager, Dave Cox, entered her office. He asked how everything was progressing and if she needed any help. She mentioned she was reviewing quotations from suppliers for a tooling contract. Dave asked who the interested suppliers were and if she had made a decision. Sharon indicated that one supplier, Apex, appeared to fit exactly the requirements Visionex had specified in the proposal. Dave told her to keep up the good work. Later that day Dave again visited Sharons office. He stated that he had done some research on the suppliers and felt that another supplier, Micron, appeared to have the best track record with Visionex. He pointed out that Sharons first choice was a new supplier to Visionex and there was some risk involved with that choice. Dave indicated that it would please him greatly if she selected Micron for the contract. The next day Sharon was having lunch with another buyer, Mark Smith. She mentioned the conversation with Dave and said she honestly felt that Apex was the best choice. When Mark asked Sharon who Dave preferred, she answered, Micron. At that point Mark rolled his eyes and shook his head. Sharon asked what the body language was all about. Mark replied, Look, I know youre new but you should know this. I heard last week that Daves brother-in-law is a new part owner of Micron. I was wondering how soon it would be before he started steering business to that company. He is not the straightest character. Sharon was shocked. After a few moments, she announced that her original choice was still the best selection. At that point Mark reminded Sharon that she was replacing a terminated buyer who did not go along with one of Daves previous preferred suppliers. What does the Institute of Supply Management code of ethics say about financial conflicts of interest?What is the PEST Analysis for the board game candyland
- What is statistical quality control and why is it important?Explain how poor quality of goods and services is an indicator of an inadequate control system.What kind of recommendations can be used to bring areas of noncompliance into compliance with the mission of the Florida Re-Entry Subdivision (aka Recovery, Treatment, and Rehabilitation).
- Introduction to "benchmarking"Nonfinancial (Operational) Control Measures: Environmental Performance Assumethat the company for which you are working is interested in implementing a comprehensivemonitoring and control system regarding environmental performance. The company is convinced that improved performance in this area will lead to reduced costs, an improved corporate image, greater market share, and ultimately to greater financial returns. To supplement anumber of financial performance indicators in the area of environmental quality, the companyis interested in developing a set of nonfinancial performance indicators, which (it is hoped) willmotivate better environmental quality. In this regard, the company has embraced five strategic objectives: minimize hazardous materials, minimize raw/virgin materials usage, minimizeenergy requirements, minimize release of residues into the environment, and maximize opportunities to recycle.RequiredFor each of the five strategic objectives referenced above, provide at…Describe the method of sensitivity analysis?