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in the items in the market have to be monitored and the products have to keep up with the
competition. The changing needs of the market and the advances in technology are just some
of the inspirations for making products unique and outstanding.

3. What are the reasons that make you choose or buy a product over another?

Sample answer:
It depends on my needs and the money I allotted for the item. There may be times when my
need is so great, but my budget is not so big. I make adjustments depending on those two
factors.

1. You are at a board meeting and you are delivering a report. You are explain-
ing the differences of your old and new product in the following aspects.
a. efficiency
b. production costs

Sample answer:
Thank you so much for attending this board meeting about the changes that we have achieved
in our latest model. We are proud to inform you that through persistent research, our latest
model boasts of improved efficiency at a lesser production costs. This means that it has great
potential to rake in profits for the company. By scouring the world market for cheaper yet more
efficient materials, we have achieved our goal of lowering production costs. We have also taken
advantage of our long term ties with one of our partners who have granted us a significant
discount. With all these factors combined, we can definitely mark down the price of our more
efficient model. This will definitely make it the best option in the market today.

2. You are addressing the finance and creative teams of your company. You
have observed that there has been no major development in the following
aspects of your product. This has led to a decrease in sales because your
competition in the market has done so much to create improvements for
their items. Motivate the teams to create good changes in the areas below.
a. Item packaging
b. Pricing

Sample answer:
I have received a report that we are slightly lagging behind our competition. I learned that the
cause for their growth is the recent packaging that they used. It made their items seem more
interesting and attractive. We have to outdo this strategy. We have to beat them in this aspect.
The creative team should look into the needs and preferred styles of our buyers and target
markets. Our item packaging should be able to address the needs and styles of our clients. You
should do your research and submit proposed designs as soon as possible. Also, if our plan
on item repackaging doesn’t work and our sales don’t improve, we may have to change our
pricing in order to compete in the market. Finance team, I want you to study possible marked
down pricing that we can take in the worst case scenario. I want your reports ready in a week.
With your help, I know that we can still achieve our target sales. We can still recover our top
post. It’s just a matter of changing strategy. Good luck to us all!

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