A company is manufacturing garments. The manager wants to increase profits by :
(i) Purchasing new high-speed machines
(ii) Increasing the sale price
(iii) Using waste materials in the manufacturing of stuffed (or soft) toys.
He decided that using waste material to increase the profit is the best solution for him.
(i) Identify the marketing management philosophies for each option considered by the manager to increase profits. Explain whether the concept decided by the manager is beneficial or not.
(ii) To complete the process of the concept identified what further steps does the manager need to take?
A company is manufacturing garments. The manager wants to increase profits by :
(i) Purchasing new high-speed machines
(ii) Increasing the sale price
(iii) Using waste materials in the manufacturing of stuffed (or soft) toys.
He decided that using waste material to increase the profit is the best solution for him.
(i) Identify the marketing management philosophies for each option considered by the manager to increase profits. Explain whether the concept decided by the manager is beneficial or not.
(ii) To complete the process of the concept identified what further steps does the manager need to take?
(i) The marketing management philosophies for each option considered by the manager are :
(a) Purchasing new high-speed machines —Product concept (b) Increasing the sale price — Selling concept
(c) Using waste materials in manufacturing stuffed (or soft) toys — Production concept.
The production concept of using waste material may not be beneficial for the customers. Using waste material may seem cost-effective but the waste material can be unclear and hazardous (like plastic). They may be able to sell the garments at lower prices on a large scale and obtain its goal of making profits. (ii) Usage of waste material is easily available and inexpensive for the manager and he would thus focus on achieving high production of garments at low costs and distribute it among the masses. These garments would be made easily available and would be inexpensive for the manager.
(i) The marketing management philosophies for each option considered by the manager are :
(a) Purchasing new high-speed machines —Product concept (b) Increasing the sale price — Selling concept
(c) Using waste materials in manufacturing stuffed (or soft) toys — Production concept.
The production concept of using waste material may not be beneficial for the customers. Using waste material may seem cost-effective but the waste material can be unclear and hazardous (like plastic). They may be able to sell the garments at lower prices on a large scale and obtain its goal of making profits. (ii) Usage of waste material is easily available and inexpensive for the manager and he would thus focus on achieving high production of garments at low costs and distribute it among the masses. These garments would be made easily available and would be inexpensive for the manager.
