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Scenario 11.2 Use the Scenario to Answer the Questions

question 91

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Scenario 11.2
Use the scenario to answer the questions.
Jonathan Moore, President of Polar Manufacturing Company, has just reviewed the performance reports for the previous year and observes that there are certain areas in which the company needs to improve. He specifically feels that Polar's product mix can be managed in a more effective way. Jonathan summons a meeting of all the managers responsible for each of the product lines that Polar currently manufactures. The group reaches a consensus that the complete industrial product line of ice chests needs to be eliminated. It contemplates to do so by letting the product decline without making any changes in the marketing strategy or product. The group also decides to delete Polar's line of personal thermal underwear within a week, owing to its unprofitability. While discussing these strategies, the group also uncovers several customer segments at which new products could be targeted. The managers decide to assemble a group of people from all functional areas of the company and confer them responsibilities for all aspects of the new-product development.
-Refer to Scenario 11.2. Since some products are not performing well, Jonathan Moore thinks that the company should set up a procedure to evaluate each product so that management will know when and how a product should be eliminated. He is suggesting a:

Definitions:

American Family

A social unit in the United States consisting of individuals related by blood, marriage, or adoption, characterized by diverse structures and cultural practices.

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A prolonged period in which the level of consumer prices decreases, indicating a reduction in the inflation rate below zero percent.

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A global conflict that lasted from 1939 to 1945, involving many of the world's nations, including all of the great powers, eventually forming two opposing military alliances: the Allies and the Axis.

Hyperinflation

An extremely high and typically accelerating rate of inflation, leading to a rapid erosion of the real value of local currency and causing economic instability.