Apply the Principles of Escalating Commitment to the Following Situation

question 63

Short Answer

Apply the principles of escalating commitment to the following situation to carry it forward in time, imagining what would happen next: You are a marketing manager at PrintCards where you have for ten years had the most successful software for creation of all types of cards in the home or office environment. However, PrintCards is finally faced with competition from a more powerful software package, new to the marketplace, that came in at a price of half that of PrintCards. PrintCards quickly began to lose market share, but initially made no adaptation. New product could not be delivered for months into the future because of the timing of the product development cycle. You made a decision not to change the pricing structure of PrintCards because of your department's analysis that the old higher pricing structure was fitting for a product with such high name recognition. Market share continued to decline.

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Definitions:

Procurement

The process of sourcing and acquiring goods and services from external sources for an organization.

E-sourcing

The process of acquiring goods or services for business use through online platforms and electronic negotiations.

E-procurement

Electronic procurement involves the use of online systems and tools to conduct the purchasing process and obtain goods and services.

Data Management

The process of collecting, storing, organizing, and maintaining the data created and collected by an organization.