ECONOMICS

Detailed explanation-1: -Common examples of product objectives would be revenue, price, market share, go-to-market, promotion, operations, customer experience, distribution, and product knowledge.

Detailed explanation-2: -The main objective of production management is to produce goods and services of the right quality, right quantity, at the right time and at minimum cost. It also tries to improve the efficiency.

Detailed explanation-3: -To use a quality-based performance objective example: Our objective is to reduce warranty spending from 2% to 1% by the end of Q4 2023. The company will achieve this by carrying out extra quality checks during production. Achieving this goal will benefit us by improving customer satisfaction and retention.

Detailed explanation-4: -The overall objectives of production planning and control are to: Optimize resources and the scheduling of resources to meet production demand. Ensure an efficient schedule. Have resources ready when needed.