Question

ANSWER QUESTION 4

Chapter 15: Product Development and Supply Chain Management

COVID 19 health crisis that we all are experiencing is giving us a healthy dose of reality to understand the importance of this chapter. Some pharmaceutical companies are racing to develop vaccines and drugs for this epidemic, and others are racing against the clock to produce ventilators and other critical equipment to deal with this public health crisis. Retailers are struggling to move supplies and fill the shelves to meet our needs: food, medicine, toilet papers, sanitizers, and the list can go on. Government agencies at all levels are watching and trying to protect against so-called “entrepreneurs” that are moving supplies to geographies where they can capitalize and earn more dollars.

Again, given the time constraints, we will focus on the following points:

• 15-2 Innovation: A path the grow
• 15-3 The product life cycle and new product development
• 15-4a Branding
• 15-6 The legal environment
• 15-7 Supply chain management

I highly recommend that you read the whole chapter to get the full benefit. Your assignment is to discuss the following:

1. Can you make an argument as to why a solid performing business DOES NOT need innovation to grow? Explain why!
2. What is the importance of new product development? Put your answer in the perspective of the product life cycle.
3. Why is banding relevant to the company’s products and services?
4. This question will have two folds:
   1. What are the mechanisms in place to protect consumers?
   2. What are the mechanisms in place to protect a firm’s product and services
5. From your perspective, choose one of the businesses around you in this crisis of COVID 19 that you think is not doing a good job in delivering the product or services that you are used to. Based on your reading of section 15-7 Supply chain management, identify what do you think the problem is and how you would solve it.

ANSWER QUESTION 4

Answer 1

4a) Mechanisms to protect consumer's are

1) The consumer Fedration is supporting consumers with information on how COVID-19 will effect services,internet and other housing facility.

2) Consumer voice (in India) is supporting consumers from different front,like testing of hand sanitizer and for advocating the government stimulus package to minimise the impact of COVID-19.

3)Euro consumers (Europe) has created a life blog service that shares daily update on the information about COVID-19.

4) There are strict provisions for bulk purchases so that the demand is met for every individual.

5) There are laws made by the government for prevention of black marketing.

6) Government agencies have also made sure that essential commodities like medicine,grocery are available at all times.

4b) Mechanisms to protect a firm's product and services are

1) There has been stipulated time alloted by the government for the firm's so that they don't run out of business.

2) Access to a larger capital loan upto 5,00,000$ (U.S.A).

3) Lowering down of interest rates for any term loans.