This activity is important because companies introducing a new product face a decision critical to its long-term success: How should the firm position its new product such that prospective buyers view it as desirable as compared to those products offered by its competitors? For the purpose of the activity, imagine that you are a marketing manager working for a startup golf equipment company that is introducing a new line of golf clubs. The company must decide how it wants to enter the market and, more importantly, how it will position this new line of clubs. The goal of this exercise is to demonstrate your understanding of the different types of product and promotion strategies firms utilize as part of their global marketing programs.

Which are the best examples of costs that should be considered when creating a project budget?

Demand increases by less than supply increases. as a result, (a) equilibrium price will decline and equilibrium quantity will rise. (b) both equilibrium price and quantity will decline. (c) both equilibrium price and quantity will rise

Laval produces lamps and home lighting fixtures. its most popular product is a brushed aluminum desk lamp. this lamp is made from components shaped in the fabricating department and assembled in the assembly department. information related to the 22,000 desk lamps produced annually follows.direct materials $280,000direct labor fabricating department (8,000 dlh × $24 per dlh) $192,000assembly department (16,600 dlh × $26 per dlh) $431,600machine hours fabricating department $15,200mhassembly department $20,850mhexpected overhead cost and related data for the two production departments follow.fabricating assemblydirect labor hours 150,000dlh 295,000dlhmachine hours 161,000mh 128,000mhoverhead cost $400,000 430,000required1. determine the plantwide overhead rate for laval using direct labor hours as a base.2. determine the total manufacturing cost per unit for the aluminum desk lamp using the plantwide overhead rate.3. compute departmental overhead rates based on machine hours in the fabricating department and direct labor hours in the assembly department.4. use departmental overhead rates from requirement 3 to determine the total manufacturing cost per unit for the aluminum desk lamps.