Refer to the Scenario Below to Answer the Following Question(s)

question 28

Multiple Choice

Refer to the scenario below to answer the following question(s) .
Essential-Beauty is a rapidly growing firm that manufactures women's makeup, perfumes, and nail-care products. The company has established itself as a high-end cosmetic product brand available at most national drug stores. In the past, almost all of the advertising for Essential-Beauty has been in women's fashion magazines.
The firm is now launching a new line of skin care products, ranging from facial cleansers to body lotion. These products are designed to be marketed to a broader audience, so the marketing team is exploring the effectiveness of different promotional mixes.
-Essential-Beauty considers one of its most important competitors to be Look-Lovely, another marketer of high-end makeup and skin care products sold in drug stores. Based on this, it is most accurate to say that Look-Lovely and Essential-Beauty are both ________.

• A) niche marketers
• B) in the same strategic group
• C) distant competitors
• D) overall cost leaders
• E) market followers

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Definitions:

Ending Cash Balance

The amount of cash a company has available at the end of a financial period.

Sales

The total amount generated from selling goods or services over a specific period of time.

Accounts Receivable Period

The average number of days it takes for a company to collect payments owed by its customers.

Cash Expenses

Expenses that require an immediate outlay of cash during a given time period.