Ellie's manager has asked her to come up with ways to reduce costs of their new product by utilizing a process called "target costing." What should Ellie do?
What will be an ideal response?
Answer: Ellie will have to ask the marketing research department to establish the new product's desired functions and the price at which the product will sell, given its appeal and competitors' prices. Deducting the desired profit margin from this price leaves the target cost that must be achieved. Her company will then have to examine each cost element like the design, engineering, manufacturing, and sales and bring down costs so that the final cost projections are in the target range.
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Today's business must think in terms of:
a) regional trade zones b) the EPA c) the U.S. Defense Department d) the global market place e) the curved world
Which statement is incorrect regarding a gift of flowers?
a. In most European countries, a gift of carnations is the most appreciated. b. Avoid sending yellow, red, or white flowers to a Mexican host. c. Chrysanthemums would be inappropriate in both Japan and Italy. d. In some countries gladiolus are symbols of mourning.