1.4. Suppose you want to develop a new product. Answer the following questions about your
new product:
1.4.1
(5)
Explain how you would apply the steps in product design when developing this
product.
1.4.2
Explain how you would apply any FIVE pricing techniques to attract customers.
(5)
1.5
(5)
Justify the effectiveness of personal selling as the best method of promoting a business
product.
Elaborate on the meaning of Total Quality Management/TQM as part of a quality
management system.
1.6
(5)
1.7
Discuss the principles of professionalism.
(5)
1.8
Advise businesses on FIVE ways in which professional, responsible, ethical and
effective business practice should be conducted.
(5
)
[50

Amanufacturing firm is considering overhauling the existing compensation strategy. currently every front line employee who works on the assembly line earns the same hourly wage. ideally, management would like to institute a new pay system that involves pay-for-performance. which of the following recommendations is both consistent with scientific management's general emphases and generally good advice for management of this firma. the firm should adopt a differential pay system with one pay level for average performance, and a higher level for good performance. b. the firm should adopt a differential pay system, but the firm should modify it from its original design and provide many different levels of pay associated with different performance levels. c. the firm should understand worker psychology and to focus on pay as the key motivator. d. all of the abovee. none of the above

Which of the following is not a benefit typically offered by employers? a. health insurance b. vacation pay c. retirement plans d. guaranteed raises

How does cobley connect the ideas of brands and force? what is his point about brands? 2. do consumers act in the ways that they say they do? why or why not? what is the lesson for marketing in this? 3. why do brands need to be careful about not making mistakes? 4. do companies have control over their brands in today's world? why or why not? 5. the video shows how physics can improve marketing. think of a specific insight or idea from a field other than business and discuss how this idea or insight could you as an entrepreneur. entrepreneurship as problem-solving < - your second lab link 1. how did elk become an entrepreneurship? 2. why is problem-solving important in entrepreneurship? 3. do you think you are a problem-solver? why or why not?