As a Business Practice, Broadening Involves ________

question 157

Multiple Choice

As a business practice, broadening involves ________.

• A) acquiring or merging with firms in the same or complementary industries to gain economies of scale and scope
• B) factoring the interests of customers, employees, shareholders, and other stakeholders into the activities of the enterprise
• C) buying more goods and services from outside domestic or foreign vendors
• D) appointing teams to manage customer-value-building processes and break down walls between departments
• E) becoming more accountable by measuring, analyzing, and documenting the effects of marketing actions

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Definitions:

Cooperative Games

Cooperative games are strategic games where players can form binding agreements to cooperate and share the payoffs.

Bargaining

The process of negotiating the terms of an agreement or a deal between two or more parties.

Advertising Strategies

Planned tactics employed by businesses to persuade target audiences to purchase a product or service through various forms of media.

Dominant Strategy

Strategy that is optimal no matter what an opponent does.