For a product of your choice, describe and explain the followingA one or two sentence description of your chosen product: What type of demand does this firm face (dependent / independent) for this product, and why? Should the firm use the push / pull method for the production of this product, and why? Does the concept of yield management apply to this product? How? If not, why not? For a specific component / raw material necessary to produce / "create this"product, should the firm use a single-period or a multi-period inventory order model, and why? For each type of inventory (raw material inventory, work-in-process inventory, and finished goods inventory), should the firm carry any safety stock? Why? a. Product Description b. Dependent / Independent Demand c. Push / Pull d. Yield Management e. Single-period / Multi-period f. Safety Stock- Raw Material Safety Stock - Work-in-Process Safety Stock - Finished Goods

The product selected could be an Sports Utility Vehicle (SUV) car . Over the past decade few decades…

Answered: For a product of your choice, describe…

Principles Of Marketing

17th Edition

ISBN:9780134492513

Author:Kotler, Philip, Armstrong, Gary (gary M.)

Publisher:Kotler, Philip, Armstrong, Gary (gary M.)

Chapter1: Marketing: Creating Customer Value And Engagement

Section: Chapter Questions

Problem 1.1DQ

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For a product of your choice, describe and explain the following

A one or two sentence description of your chosen product:
What type of demand does this firm face (dependent / independent) for this product, and why?
Should the firm use the push / pull method for the production of this product, and why?
Does the concept of yield management apply to this product? How? If not, why not?
For a specific component / raw material necessary to produce / "create this"product, should the firm use a single-period or a multi-period inventory order model, and why?
For each type of inventory (raw material inventory, work-in-process inventory, and finished goods inventory), should the firm carry any safety stock? Why?

a. Product Description

b. Dependent / Independent Demand

c. Push / Pull

d. Yield Management

e. Single-period / Multi-period

f. Safety Stock- Raw Material

Safety Stock - Work-in-Process

Safety Stock - Finished Goods

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