To think critically about: The value enhancers that affected the choice of school. Factors considered by an individual and the most important factors among those with reason. The list of alternatives schools and reason to not choose them.
Introduction: Value enhancers are something extra in the product that increases the value of the product for the customer; it is something on the basis of which customer distinguishes one product from another.
Explanation of Solution
- Wi-Fi facility in the campus.
- Size of the school premises.
- Reputation of the school.
An individual considered all the factors such as size, location, price, reputation and other factors as well except for sports. An individual does not considered sports because an individual does not have any interest in sports.
The most important factors are as follows:
- Location: The location of the school is very important. If school is far away from home, then it will take lot of time to travel from one home to school. It will then waste lot of daily time on travel. So it is essential to have school not far from where an individual is living.
- Price: The price of the course also matters because the price tells about the loan size. If price is too high then it is beneficial to take admission in that school which has great placement.
- Reputation: Reputation also plays it part. If reputation of the school is high, then the value of the degree will be greater as well.
- Library and research services: Library and research facilities help in studies. So, it is always great to have library and research facilities in college.
- Courses offered: Courses offered also matters. As it tells whether an individual will be able to take the course desired or not.
For example: School ADB and ABD are the two alternatives with an individual.
ADB School was far away from where an individual resides. It would have increased the time of travel; because of this individual didn’t choose that school. ABD school did not have research facility; because of this the individual has rejected that school.
Want to see more full solutions like this?
Chapter 14 Solutions
UNDERSTANDING BUSINESS CUST. LOOSELEAF
- How can Nestlé and Unilever use Value Analysis to decide which products be the highest priority for switching from plastic to paper-based packaging?arrow_forwardGiven the value proposition “A device for managing insects in rice farms without the use of toxic chemicals”, who are the implied customers and what are the implied benefits?arrow_forwardWhat is value addition?and what is non value additionarrow_forward
- Describe three "needs" that 3D printing may satisfy.What's your solution? Which of the three "needs" matches your 3D printing issue? This 3D printing project's selected solution?arrow_forwardExplain how to capture value from customers in return?arrow_forwardBusiness proposal: Provide a new product/service idea with the following information: 1. Who is the target buyer 2. What problem/ need is being addressed 3. How will the solution be delivered 4. Will customers see value in it? 5. Is it unique?who are your competitors?arrow_forward
- According to Kraft Foods: The Coffee Pod Launch case study by Aleem Visram, should Kraft use both the Maxwell House and Nabob brands for coffee pods? Why or why not?arrow_forwardMany companies’ individual marketing efforts that customize products for individual customers, such as M&Ms, PUMA, and Harley-Davidson. Find and describe another example and discuss whether the cost of customizing is worth the value provided to consumers.arrow_forwardWhat is value add, non-value add and essential non-value add? Explain with the help of an example.arrow_forward
- Create innovative market test concept ideas that you can imagine for future product/service development (clearly explain each step)arrow_forwardExplain the product life cycle using an example of Adidas Stan Smith Sneakersarrow_forwardDiscuss why product extension and refinement are important?arrow_forward
- Understanding BusinessManagementISBN:9781259929434Author:William NickelsPublisher:McGraw-Hill EducationManagement (14th Edition)ManagementISBN:9780134527604Author:Stephen P. Robbins, Mary A. CoulterPublisher:PEARSONSpreadsheet Modeling & Decision Analysis: A Pract...ManagementISBN:9781305947412Author:Cliff RagsdalePublisher:Cengage Learning
- Management Information Systems: Managing The Digi...ManagementISBN:9780135191798Author:Kenneth C. Laudon, Jane P. LaudonPublisher:PEARSONBusiness Essentials (12th Edition) (What's New in...ManagementISBN:9780134728391Author:Ronald J. Ebert, Ricky W. GriffinPublisher:PEARSONFundamentals of Management (10th Edition)ManagementISBN:9780134237473Author:Stephen P. Robbins, Mary A. Coulter, David A. De CenzoPublisher:PEARSON