Product X - Contribution £40 and Uses 20 Scarce Machine

question 9

Multiple Choice

Product X - Contribution £40 and uses 20 scarce machine hours. Component Y - used in manufacture of X, has a variable cost of £5 and uses 3 machine hours. Component y can be bought for £10. In determining whether to make or buy what is the relevant cost of making:

• A) £10
• B) £6
• C) £11
• D) £40

Identify the significance of understanding customer needs, wants, and demands in market segmentation.

Recognize the significance of conducting a SWOT (Strengths, Weaknesses, Opportunities, Threats) analysis in strategic planning.

Understand the concept of matching a firm's competitive advantages with attractive market opportunities.

Know the tools and analyses used by marketers to identify the best markets to target, such as SWOT analysis and perceptual maps.

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Definitions:

Credit Card Receipts

Documentation or records of transactions made using a credit card, showing the amount charged and relevant transaction details.