A Company Is Considering Producing 8 Different Products for the Upcoming

question 42

Essay

A company is considering producing 8 different products for the upcoming holiday season.The profit contribution per product is illustrated below:
$$\begin{array} { l l } \text { Product } & \text { Profit } ( \$ ) \\\hline 1 & 10 \\2 & 12 \\3 & 7 \\4 & 15 \\5 & 8 \\6 & 9 \\7 & 13 \\8 & 11\end{array}$$
The marketing manager has imposed the following restrictions on the production mix:
•Since products 1,2,and 3 are electronic gadgets,at least two of these products must be in the production mix.
•Since products 4 and 5 are kids-oriented,the production mix must include no more than one of these products.
•If product 7 is included in the mix,then product 8 must be included,and vice versa.
Which products should be included in the mix to maximize profit?

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Definitions:

Herzberg's Theory

A motivation theory, also known as the Two-Factor Theory, suggesting that certain factors in the workplace lead to job satisfaction, while others lead to dissatisfaction.

Job Dissatisfaction

The feeling of unhappiness or discontent with one's job, often due to factors like poor working conditions, unsatisfactory pay, or lack of recognition.

Manifest Needs

Learned or acquired needs that are easily perceived.

High Achievers

Individuals who exhibit a consistent and exceptional level of success in their endeavors, often driven by personal standards of excellence.