OM 300 Exam 1 | University of Alabama Operations Management Test Review
The first rule of business - (ANSWER)"you have to have products that sell"
Product Decision Objective - (ANSWER)The objective of the product decision is to develop and
implement a product strategy that meets the demands of the marketplace with a competitive
advantage.
Product Life Cycle: Introductory Phase - (ANSWER)Fine tuning may warrant unusual expenses for:
1. Research
2. Product development
3. Process modification and enhancement
4. supplier development
Product Life Cycle: Growth Phase - (ANSWER)-production design begin to stabilize
-effective force casting of capacity becomes necessary A
-Adding or enhancing capacity may be necessary
Production Life Cycle: Maturity Phase - (ANSWER)-Competitors now established
-High volume, innovative production may be needed
-Improved cost control reduction in options, paring down of product line
Product Life Cycle: Decline Phase - (ANSWER)Unless product makes a special contribution to the
organization, must plan to terminate offering
New Product Opportunities - (ANSWER)1. Understanding the customer
2. Economic change
3. Sociological and demographic change
4. Technological change
5. Political/legal change
The first rule of business - (ANSWER)"you have to have products that sell"
Product Decision Objective - (ANSWER)The objective of the product decision is to develop and
implement a product strategy that meets the demands of the marketplace with a competitive
advantage.
Product Life Cycle: Introductory Phase - (ANSWER)Fine tuning may warrant unusual expenses for:
1. Research
2. Product development
3. Process modification and enhancement
4. supplier development
Product Life Cycle: Growth Phase - (ANSWER)-production design begin to stabilize
-effective force casting of capacity becomes necessary A
-Adding or enhancing capacity may be necessary
Production Life Cycle: Maturity Phase - (ANSWER)-Competitors now established
-High volume, innovative production may be needed
-Improved cost control reduction in options, paring down of product line
Product Life Cycle: Decline Phase - (ANSWER)Unless product makes a special contribution to the
organization, must plan to terminate offering
New Product Opportunities - (ANSWER)1. Understanding the customer
2. Economic change
3. Sociological and demographic change
4. Technological change
5. Political/legal change
