Kisa Is a Production Manager at Western Widgets,Inc

question 202

Multiple Choice

Kisa is a production manager at Western Widgets,Inc. ,a manufacturing corporation that sells its products worldwide.Thanks in part to Kisa's efforts,Western Widgets has dramatically improved the quality of its products.Kisa believes that the high quality of its output will give Western Widgets a competitive edge.Kisa's view is:

• A)not wrong,but it is too limited.Consumers demand high quality goods,along with competitive prices and outstanding service.
• B)incorrect.The typical consumer is more interested in price than quality.
• C)not exactly correct.The best strategy for market success is to develop new products quickly and get them to the market before the competition,even if quality suffers a bit.
• D)correct.Producing high quality goods is the key to success in the competitive marketplace.

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Definitions:

Price Level

A measure of the average prices of goods and services in an economy, indicating inflationary trends and purchasing power.

Adverse Supply Shock

An unexpected event that suddenly decreases the supply of a commodity or service, leading to increased prices and potentially stalling economic output.

Money Supply Growth Rate

The speed at which the total money supply in an economy grows within a certain timeframe.

Public Relations Campaign

A strategic communication process that builds mutually beneficial relationships between organizations and their publics.