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Results What Worked

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Business

School

Dalhousie University

Type

Homework

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07Nagbal

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4. Results

a) What worked, and what did not work? Why?

Our approach of charging higher prices on goods which were rare in the market to increase the

profit margin was highly successful since the demand for these goods was high and thus, the

customers didn't consider the price charged in making the purchase decision. Further, our

strategy of releasing products earlier than our competitors also brought positive impacts on the

sales because the demand for our products was at first high before competition built up in the

market. However, the strategy of buying production equipment to ease production didn't quite

work since the costs increased while the profit level remained constant.

b) Knowing then what you know about the market now, how would your strategy and

operations have changed?

With the knowledge of the market, our strategy of mechanizing production using the new

equipment would have changed and the group would have invested and improved its labor force

to ease production and reduce the production costs. Considering that the market was highly

competitive, the allocation of responsibilities randomly would have also changed to allocating

them depending on the competencies of the team members since this would increase the overall

productivity of the members resulting in higher competitiveness of the group.

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4. Results a) What worked, and what did not work? Why? Our approach of charging higher prices on goods which were rare in the market to increase the profit margin was highly successful since the demand for these goods was high and thus, the customers didn't consider the price charged in making the p ...
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