GMS 401 Chapter Notes - Chapter 4: Uniform Commercial Code, Economic Evaluation, Customer Satisfaction

21 views4 pages

puceclam165

16 Oct 2011

School

Ryerson University

Department

Global Management Studies

Course

GMS 401

Professor

Wally Whistance- Smith

For unlimited access to Textbook Notes, a Class+ subscription is required.

Document Summary

Product development: a process to generate concepts, designs, and plans for services and goods that an organization can provide to its customer. Engineering: research and development (r&d): organized efforts to increase scientific knowledge or product innovation & may involve: Basic research: advances knowledge about a subject without near-term expectations of commercial applications. Development converts results of applied research into commercial applications: reverse engineering is the dismantling and inspecting of a competitor"s product to discover product improvements. Major factors in strategy: cost, quality, time-to-market, customer satisfaction, competitive advantage. A major trend in product design is an increased emphasis on customer satisfaction, reducing time to introduce new products, and reducing time to produce and deliver product/service, environmental concerns, user friendly, products that use less material. Product liability: a manufacturer is liable for any injuries or damages caused by a faulty product. Uniform commercial code, sales of goods act: products carry an implication of merchantability and fitness.

Related Questions

is the term that describes the actions a person takes in purchasing and using products and services. a) Marketing b) Market Research c) Consumer behaviour d) Consumer management

3. Which of the following best describes the production orientation? a) Manufactured goods would sell regardless of their quality, because they were in short supply. b) Businesses have one or more departments specifically designed to understand consumers' needs and readily share this knowledge across departments. c) Production capabilities exceeded regular demand, competition increased and reaching new markets became more complex. d) It uses customer relationship management software. e) It uses production management software

32) Which of the following best describes the term gross domestic product? a) total value of all goods and services produced within a given period by a national economy through domestic factors of production total quantity of goods and services produced by an economic system conditions of the economic system in which an organization operates total quantity and quality of goods and services that a country's citizens can purchase with the currency used in their economic system total value of all goods and services produced by a national economy within a given period regardless of where the factors of production are located

GMS 401 Chapter Notes - Chapter 4: Uniform Commercial Code, Economic Evaluation, Customer Satisfaction

Document Summary

Get access

Related Documents

GMS 401 Lecture Notes - Lecture 3: Service Recovery, Overselling, Concurrent Engineering

GMS 401 Chapter Notes - Chapter 4: Product Design, Correlation And Dependence, Service Design

GMS 401 Chapter 3: GMS – Chapter 3 – Product Design

Related Questions