Sankar owns a pet furniture business but he wants to grow his business and increase sales and profits. He plans to create a pet fashion line. People love and support Sankar's business because all of the products (e.g, dog beds, crates, cat towers) are manufactured locally in Bellingham, creating jobs for the community. He doesn't want to hire new staff as he doesn't have a lot of money, but he thinks he might have to. Rather than developing a pet fashion line, which of the following alternatives can you suggest to Sankar? O Sankar should use a market penetration strategy. O Sankar should hire a marketing company to help him promote his products. Sankar should outsource his company's jobs to cut costs. O Sankar should consider selling his business to a larger pet food company. O Sankar should use cannibalization strategy.

Sankar owns a pet furniture business but he wants to grow his business and increase sales and profits. He plans to create a pet fashion line. People love and support Sankar's business because all of the products (e.g, dog beds, crates, cat towers) are manufactured locally in Bellingham, creating jobs for the community. He doesn't want to hire new staff as he doesn't have a lot of money, but he thinks he might have to. Rather than developing a pet fashion line, which of the following alternatives can you suggest to Sankar? O Sankar should use a market penetration strategy. O Sankar should hire a marketing company to help him promote his products. Sankar should outsource his company's jobs to cut costs. O Sankar should consider selling his business to a larger pet food company. O Sankar should use cannibalization strategy.

Economics (MindTap Course List)

13th Edition

ISBN:9781337617383

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter21: Production And Costs

Section21.2: Two Sides To Every Business Firm

Problem 4ST

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