MP Factors Affecting PSM

Lay's regularly releases new potato chip flavors based on feedback from their customers. This is based on which factor affecting PSM?

• Customer Needs & Wants

• Competition

• Government Regulations

• Company Goals & Strategies

Lay's decides to take a closer look at the formula for their dill pickle chips.

• Business & Economic Trends

• Costs & Available Resources

• The Product Itself

• Company Goals & Strategies

It is required by law that Lay's posts important health, nutrition, and allergy information on their packaging.

• Customer Needs & Wants

• Competition

• Government Regulations

• Company Goals & Strategies

Lay's has a goal to be the #1 chip brand, and they make all decisions with this goal in mind.

• Customer Needs & Wants

• Competition

• Government Regulations

• Company Goals & Strategies

Lay's may need to downsize due to economic conditions and would need to figure out which products to eliminate.

• Business & Economic Trends

• Costs & Available Resources

• The Product Itself

• Company Goals & Strategies

Lay's notices that Ruffles and Utz are both releasing innovative new chips, and Lay's realizes they must get creative in order to stay relevant.

• Customer Needs & Wants

• Competition

• Government Regulations

• Company Goals & Strategies

Lay's is testing out a new product but soon discover it will be too expensive to produce and they will not make any money from it.

• Business & Economic Trends

• Costs & Available Resources

• The Product Itself

• Company Goals & Strategies