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Answer to 1: Mercedes-Benz AAV Face lot of competition from different companies

   

Added on  2021-04-24

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Running head: COST ACCOUNTINGCost AccountingName of the Student:Name of the University:Authors Note:
Answer to 1: Mercedes-Benz AAV Face lot of competition from different companies_1

COST ACCOUNTING1Table of ContentsAnswer to 1:...............................................................................................................................2Answer to 2:...............................................................................................................................2Answer to 3:...............................................................................................................................3Answer to 4:...............................................................................................................................3Answer to 5:...............................................................................................................................4Answer to 6:...............................................................................................................................4Answer to 7:...............................................................................................................................5Answer to 8:...............................................................................................................................5Reference and Bibliography:......................................................................................................7
Answer to 1: Mercedes-Benz AAV Face lot of competition from different companies_2

COST ACCOUNTING2Answer to 1:Mercedes-Benz AAV Face lot of competition from different companies andcompetitors among which is Japanese company Lexus. This company has relatively capturedthe market by providing high quality cars at reasonable prices, as current customers aredemanding more than the money paid for purchase. Mercedes-Benz has never lost money dueto the adverse cost calculations system, where high quality materials used to design andmanufacture cars. This made the cars expensive, while the demand exceeded supply.However, the current scenario indicates that using the same old method would not bebeneficial for the company (Patassini, 2017). Therefore, using product innovation, and costcompetition could eventually allow Mercedes-Benz to thrive in the competitive market.Answer to 2:Previously Mercedes Benz used an autonomous system of Management, where theprimary focus was only quality and limited-edition cars. this style of Management becameobsolete during the globalization and continuous market penetration by different carcompanies. The management has used adequate strategy which are different from traditionalones. The major steps taken by Mercedes Benz is introducing new product now and then,partying with the suppliers, emphasizing on Cost control, production and managementplayers, disallowing complex system and formation of Lead time concept (Schaltegger &Zvezdov, 2015). Traditionally Mercedes would not follow any of the above-mentionedstrategies, as the sole focus was to produce limited edition cars with high quality. This pavedthe way for other car manufacturing companies, who were able to provide more options to thecustomers.
Answer to 1: Mercedes-Benz AAV Face lot of competition from different companies_3

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