Price of Products After Implementing New Technology
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As manager of Online Instructional Services (OIS), you receive exciting news from the R & D division that a new technological breakthrough (that will very soon be discovered by all other online teaching organizations) will cut your firm's costs of providing online course modules by 15%. Should you recommend the current price for the modules be maintained after implementing the new technology in the hopes of earning a substantial profit, or will it be wiser to lower the price for the modules? Explain.
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The solution determines the price of products after implementing new technology.
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I think in this case it would be wiser for you to lower the module price. Even though you could obtain a substantial profit by selling the modules at the current price and lowering your own costs, this would reduce your ...
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