Read the Case Study "Innovation on the Production Line" in Chapter 5. Answer the following questions: 1, 2,7 1.Apply Braun's Principles to Chester Packaging 2. What elements of the TQM philosophy...

Running Head: MARKETING MANAGEMENT                        1
MARKETING MANAGEMENT                                3
MARKETING MANAGEMENT
Table of Contents
Case Study 1 “Innovation on the Production Line”    3
1. Applying Braun's Principles to Chester Packaging    3
2. Elements of TQM Philosophy Applied to Chester Packaging    3
Focus on Customers:    3
Consistently Improving Operations:    3
Strategic Communication:    4
Strategic Decision-Making:    4
Process Approach in the Organization:    4
3. Applying Set of Principles in the Current State of the World of an Industry    4
Case Study 2 “Pricing, Patents and Profits in the Pharmaceutical Industry"    5
1. Benefits and Limitations of Patent System in Terms of Case Provided    5
Benefits of Patent System    5
Limitations of the Patent System    5
Case Study 1 “Innovation on the Production Line”
1. Applying Braun's Principles to Chester Packaging
Braun Principle suggests that if any change is introduced in a balanced system then it tends to adjust to new balance. Braun’s Principle is applied to Chester Packaging in the way that the firm adopts innovate methods to produce its packaging solutions. It produces products, which are of high quality and serves the needs of its customers.
As per Braun’s principle, it follows honesty and transparency in its processes. By providing superior products, it avoids the situation of customer manipulation. The company has passed the times of testing by fulfilling customer’s demands on time. Apart from this, it also adopts and follows greener practices, which are in harmony with the environment.
2. Elements of TQM Philosophy Applied to Chester Packaging
TQM is a practice, which aims at continuous improvements o that customer satisfaction, can be achieved. In order to increase the market share, efficiency...