American Graduate University Operations And Supply Chain Management Assignment Help - probability distributions
Question - Pringly Division
A meeting of senior managers at the Pringly Division has been called to discuss the pricing strategy
for a new product. Part of the discussion will focus on estimating sales for the new product. Over the
past years, a number of new products have failed to meet their sales targets. It appears that the
company's profit for the year will be lower than budget and the main reason for this is the
disappointing sales of new products.
A new technique for estimating the probability of achieving target sales and profits will be discussed.
This requires managers to estimate demand for the new product and assign probabilities. A range,
rather than only one goal will be established.
The first strategy is to set a selling price ...Read More
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