Gina Is Working as a Marketing Trainee for a Streaming

question 244

Multiple Choice

Gina is working as a marketing trainee for a streaming video company. Her boss called a meeting for next week with one thing on the agenda: "Bring with you your ideas about how we can gain a competitive advantage." Gina plans to provide the following response:

• A) Create a management-driven environment with lots of employee training.
• B) Create a customer-driven environment where we constantly try to create customer value.
• C) Restructure the organization so that there is always a manager on duty to chat with online customers who are having problems with their orders.

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Definitions:

Supply Curve

A graph displaying the relationship between the price of a good or service and the quantity of that good or service that a supplier is willing and able to provide, holding all else equal.

Diminishing Marginal Product

A principle stating that as more of a variable input is added to a fixed input, the additional output produced from each additional unit of the variable input eventually decreases.

Marginal Costs

The supplementary cost arising from the manufacture of an extra unit of a good or service.

Variable Inputs

Inputs that can be adjusted in the short term to alter the level of output in the production process.