WIL PROJECT CASE STUDY ORIENTATION Week 6 Applicable VLO's for This Week's Case Study 11. Articulate various economic principles and their relationship to business. Brief Introduction to This Week's Case Study The economic outlook is changing and QUICK FOODS corporation, is facing tough decisions. Debra the founder, and the general manager of QUICK FOODS corporation, is thinking about shifting the product mix, to better align the products with the expected purchasing patterns. This Week's Detailed Case Study Information Debra established the business when the economy was in a recession, she realized the need for affordable goods. At that point in time everybody was price sensitive, since salaries were low, and discretionary income was falling. Debra took the lead and started providing products which are relatively cheaper than others, but with a slightly lower quality. The products served his clients' needs well, Sill now. QUICK FOODS corporation experienced tremendous growth during the recession. While rivals were losing sales Sarnia, Eco-Shops was gaining new markets and opening new stores. Debra's strategy of cutting cost at the expense of quality worked well, and everybody was happy with the results Today, the economy is starting to grow again, unemployment is shrinking, and real disposable income is rising. The shift in business cycle is obvious, and nobody feels the cycle better than QUICK FOODS corporation. The marketing manager passed by Debra's office and explained that a repositioning strategy is required to keep the current customers. Debra agreed on this point and asked the marketing manager, to provide a report detailing sales breakdown by product type. The next day Debra got his list, which is shown below. Product Type Current percentage of Sales Normal goods 15% Inferior goods 60% Luxury goods 25%Debra carefully analyzed the list and realized the need to reposition the marketing strategy. She is not sure what should be done but having 80% of sales generated from inferior goods in a growing economy is for sure a risky business. Deliverables, Format and Marking Scheme for This Week's Case Study Your task is: 1% explain what is meant by the business cycle. 1% explain what is meant by normal, inferior, and luxury goods. State why should business care about the type of products which they carry -3% analyze QUICK FOODS corporation current situation and state the best course of action. Note: you can make any assumptions that are deemed necessary for this case. Clearly state your assumptions in your submissions. Your findings should be reported in a two- page word document