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Hw 2 Operations Management

In: Business and Management

Submitted By sarah1313
Words 381
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HW 2 1. B. A-B-D-E-H
C. 15 weeks, 1+4+2+5+3
D. E- 1 week, C – 1 week

In each of the businesses listed they either use product or price to influence the demand. These companies use product differentiation in order to influence demand. The good and services provided by these companies are very similar so they have to set themselves apart from the rest. They have to try to make their similar products better than their competitors in the aspect of price and product difference. Most people will choose the cheaper company in the end because they are all about saving money.

Banks:
Banks all pay interest rates that are around the same, banks have to place their locations (example Chase in on campus in the book store) which makes it easier for the students to access that bank, therefore they will choose Chase that is in the bookstore because it is more convenient. Also some banks will advertise they have the lowest credit card interest rate which will bring customers around as well.

Airlines:
With airlines, generally all ticket prices will differentiate. If a person finds a cheaper ticket by a dollar or 2 they will go with that airline because you do not really have a big product difference with airplanes, people are more concerned about price.,

Cereal:
Cereal manufacturers sometimes put prizes in their boxes that are geared towards children to sell the fact they are getting a prize makes the child want to eat that cereal therefore the parents purchase that specific cereal with a toy.

Hospitals:
Hospitals often advertise their awards they have received or how outstanding their team of certain specialists are that other hospitals around the area do not have. For example the hospital close to my hometown opened a brand new oncology unit with state of the art equipment, they said they have the best around, therefore more people want to go…...

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