Management ENg. II – Assg. 1 wk 1
Textbook: Chang, C. M. (2016). Engineering Management Meeting the Global Challenges (2nd ed.). Boca Raton, FL: Taylor & Francis Group. ISBN: 978-1-4987-3007-5.
Essay Responses: All questions need to be answered in essay format (must be typed, doubled spaced, Times New Roman, 12 point font, with 1″ margins, and all sources must be sited).
Mathematical Responses: Students must show all the formulas and all procedures. Answers only will not be accepted, make sure to show all your work. Answers must be typed, double spaced, Times New Roman, 12 point font, with 1″ margins).
Chapter 8: Questions 1 – 8, page 306
- What are the bases for trade-offs between conflicting wants and needs of different customers with respect to the same product? How important is it to emphasize product quality when a new and unique product is launched?
- Is it better to market a new product quickly and then upgrade the design later or to incorporate all design modifications or improvements before launching the product?
- How can product development costs be minimized by entering the market late?
- Customers’ wants and needs are regionally different for products intended for global markets. How can a centralized, concurrent engineering team develop a product that will serve as the common “platform” for global markets?
- ABC Company wishes to enter a new market arena on the basis of its strength in core technologies and financial staying power. However, the market arena in question is currently dominated by a major competitor with 80% of the market share, and a number of smaller competitors are each focused on small niche seg-ments. How should ABC Company enter this market?
- A company makes a range of products and sells to several large, loyal customers to achieve a healthy market share. A new competitor has emerged to offer equivalent products at much lower prices. What should the company do?
- The company wants to develop a new product for a high-end consumer market. It is known that customers in this market are difficult to identify and are geo-graphically dispersed. How should the company plan for product distribution and promotion?
- The company wishes to sell its current product in a new market segment. At the same time, it wants to launch a new product in the existing market segment. How should the company handle the product promotion?