Sankar owns a pet furniture business but he wants to grow his business and increase sales and profits. He plans to create a pet fashion line. People love and support Sankar's business because all of the products (e.g, dog beds, crates, cat towers) are manufactured locally in Bellingham, creating jobs for the community. He doesn't want to hire new staff as he doesn't have a lot of money, but he thinks he might have to. Rather than developing a pet fashion line, which of the following alternatives can you suggest to Sankar? O Sankar should use a market penetration strategy. O Sankar should hire a marketing company to help him promote his products. Sankar should outsource his company's jobs to cut costs. O Sankar should consider selling his business to a larger pet food company. O Sankar should use cannibalization strategy.

Sankar owns a pet furniture business but he wants to grow his business and increase sales and profits. He plans to create a pet fashion line. People love and support Sankar's business because all of the products (e.g, dog beds, crates, cat towers) are manufactured locally in Bellingham, creating jobs for the community. He doesn't want to hire new staff as he doesn't have a lot of money, but he thinks he might have to. Rather than developing a pet fashion line, which of the following alternatives can you suggest to Sankar? O Sankar should use a market penetration strategy. O Sankar should hire a marketing company to help him promote his products. Sankar should outsource his company's jobs to cut costs. O Sankar should consider selling his business to a larger pet food company. O Sankar should use cannibalization strategy.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Concept explainers

Tax Incidence Analysis

Tax incidence analysis is a kind of economic analysis. It helps to understand the division of tax burden between stakeholders. Tax incidence also relates to the price elasticity of demand and supply. The producers and consumers may valuate their tax burden with the help of tax incidence analysis. It also helps to calculate the burden of a new tax. It is the effect of a particular tax and analysis of tax occurrence in the economy.

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Question 2b

Sankar owns a pet furniture business but he wants to grow his business and increase sales and profits. He plans to create a pet fashion line. People
love and support Sankar's business because all of the products (e.g., dog beds, crates, cat towers) are manufactured locally in Bellingham, creating jobs
for the community. He doesn't want to hire new staff as he doesn't have a lot of money, but he thinks he might have to. Rather than developing a pet
fashion line, which of the following alternatives can you suggest to Sankar?
Sankar should use a market penetration strategy.
O Sankar should hire a marketing company to help him promote his products.
Sankar should outsource his company's jobs to cut costs.
O Sankar should consider selling his business to a larger pet food company.
O Sankar should use cannibalization strategy.

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