3. Two Content Layout with SmartArt
• Research and Development
• Marketing
• Production
• Finance
Andrews
Research and
Development
Marketing
Production
Finance
4. Research and Development
How well did you establish the specification of the products
to meet customer demand?
How did you ensure that the perceived age of the product
meets customers demand?
5. Marketing
What was your strategy around creating new products to meet the
changing marketplace?
How well did you build customer awareness through promotion?
6. Production
Did you purchase machinery to automate your facilities? If so, what
was your rationale?
How well did you establish your production schedule for each line?
7. Finance
Did you acquire capital to fund capital expansions?
Did you issue stock, short-term debt, or long-term bonds?
Editor's Notes
Looking at the specification for the product requirement to meet the customer demands from where it started and to what has been plugged into the matrix. There has not been major movement to require a drastic change from where the product started out from last year. Starting out with the Performance it shows that it was at 5.5 and the size was at 14.5 and the size was the only thing that has changed from 14.5 to 14.3. This put the age of revision at 1 year and 7 months with cost for the research and development being$206.00 for production of each sensor. Leaving the raw material cost be at $11.38.
The best way that to ensure this was by making sure there was enough of the old material left to meet the demand of what the customers are needing now with some smaller revisions added too.
The strategy that is being used for the market place is maintaining the quality of the product through pouring money into research and development. Even though it will raise the prices of the product I have learned with our customers they would rather pay a little more and the quality of the product right and durable than something that will fail in two to three months.
The way we made the pubic aware of the product and the justifying reason for length was by going through social media sites like Facebook, YouTube, Instagram and Snap chat. Showing the quality reports from last year and then being able to producing the one for the current year. Then by doing commercial spots showing the length of the product compared to the other products that are there. In doing this it will increase the budget for research and development leaving a gross revenue at 45.450 before cost variables and promotions and sales.
When it comes to purchasing machinery there was no new machinery that was needed to meet the demand of the customers. The only that was increased was the labor for the second shift, When we first produced the product there was not a need for a second shift. However now that the company has established a name for this product and the guarantee quality that it will work. We had to increase the second shift from 0% to 8.3%
Even though we did great the year before it is better to have a second shift to keep ahead of the demand as well as to produce the product early enough. That it can be tested in a market to work out any glitches that may be ran into by a consumer. For an example this theory is based on the production of Apple and how they do their iPhone where they came out with the iPhone 6 and when they had worked out all of the glitches with that series and perfected the news for the next generation they came out with the iPhone 6S.
This is the same theory that we are doing with production and this why the company has done so well in this area and it is worth paying the extra money for the second shift. Which made it a wise investment to hire the 700 employees last year.
Starting out we have not acquired any capital to fund capital expansions. We have used our current assets along with the investments on hand to finance this project. With the company going into a positive direction and the economy on the rise there will be no need for us to borrow any start up capital or any capital at all as of right now. Because of our cost being low and being maintained with a watchful eye making any changes that would need to be made.
Stocks have not been issued yet but at the end of the first quarter if we have seen an increase then we will issue out stocks at that time. The goal is to limit as many long term debt and possibly not purchasing any bonds if necessary.
