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Crisco Is an All-Vegetable Shortening Which Helps Cooks Around the Globe

question 80

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Crisco is an all-vegetable shortening which helps cooks around the globe create better-tasting meals for their families. The company is part of Procter & Gamble and Crisco was developed in 1911. They released their first print advertisement in 1912 and focused on how Crisco could be used as a replacement to lard and butter. Crisco is still a dominant brand today and many families have the familiar blue tub of Crisco in their pantry as well as a container of liquid vegetable oil to use when cooking. Crisco believes its market is _______, where individuals have similar needs for the product and therefore utilize a _________ targeting strategy as they can incorporate a single marketing mix and direct it at the entire market for their sugar products.

Definitions:

Performance Appraisal

A systematic evaluation of an employee's job performance and productivity in relation to pre-established criteria and objectives.

Direct Material Standards

Established benchmarks for the cost and quantity of materials required for production processes.

Direct Material Price Variance

Direct material price variance is the difference between the actual cost of materials used in production and the expected (or standard) cost, indicating how effectively a company manages its resource costs.

Actual Production

Refers to the quantity of goods that have been produced within a given time frame, as opposed to planned or theoretical production levels.