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Peppermint tea has antispasmodic effect, so it can relax muscles. Using fresh mint and other herbs can help people increase their taste while reducing sodium and sugar intake. Peppermint is a calming herb that people have used for thousands of years to relieve stomach upset or indigestion. It also aids in digestion by promoting the movement of food through the digestive tract. Its theme is on the base of keep consumer Refreshing and Healthy. The flavor in this tea is Mint. The Ingredients used in this tea will be mint, water, honey. The color of the product will be based on the color of natural fruits and organic food. The packaging of mint tea should be Tetra Packs, Tin, Ecolean. It is based on the concept of friendly environment. If we talk about its utility value, it will be a low-calorie intake. 500ml bottle will cost $2.
Required:
1. Make a concept statement for new product of XYZ Company that is Mint tea. I have provided you the description of my product above. As we know before commercializing the product company test their concept by presenting their concept statement to the respondents.
Note: Make the catchy concept statement. It should be concise yet appealing. but it should cover all the information about product.
2. Secondly, how this concept statement will help the respondents to attract towards your product?
Suppose that a firm’s production function is Q = min{K, L}. Currently, the wage is w = 8 and the cost of capital is r = 8. What is the minimum cost method of producing Q = 40 units of output? Suppose that wages fall to w = 4. Keeping total cost the s..
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