Mimi Couturier Is a Design Company That Specializes in Formalwear

question 32

Multiple Choice

Mimi Couturier is a design company that specializes in formalwear for women.The company is known for challenging fashion mores.The company's fashion innovators use computer-assisted design software to create what they think women should wear.The company regularly hires industry experts to examine construction work areas to find waste and inefficiencies that can be eliminated.Its fashion innovators have expanded the number of products it offers for sale many times.However,for the last two years Mimi Couturier has lost money,and it has had to lay off some of its work force.To avoid this occurrence in the future,the company should:

• A) hire more retail efficiency experts to trace down any production problems.
• B) increase its sales force to find more potential customers for the firm.
• C) have someone to study its target market to see what needs and wants should be met by Mimi Couturier.
• D) cut prices so that its prices are at least 10 percent below those of its competitors.
• E) design more sophisticated products that use the latest computer-aided techniques.

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Definitions:

Competitors

Other businesses or individuals who offer similar goods or services, competing for the same customers or market share.

Market

A venue or environment where buyers and sellers interact to trade goods, services, or information, often setting prices through supply and demand.

Supplier Power

An assessment of how much power a supplier has over the prices and terms of supply, affecting the buying company's costs and strategies.

Buyers

Individuals or entities that purchase goods or services for personal use, resale, or business use.