By Selecting a Mass Market, a Firm Risks Losing Potential

question 95

True/False

By selecting a mass market, a firm risks losing potential customers to competitors who instead try to meet the needs of specific target markets.

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Definitions:

Veil of Ignorance

Concept from Rawls’ "A Theory of Justice" suggesting decision-makers should make societal rules as if they were ignorant of their own status in society to ensure fairness.

Principles of Justice

Fundamental norms or rules that guide the distribution of burdens and benefits in a society fairly and equitably.

Advantage

A condition or circumstance that puts one in a favorable or superior position relative to others.

Moral People

Individuals who act in ways that are considered ethically right and good, often guided by personal conscience and societal norms.