If Sweet Dreams Controls 85 Percent of the Market for Insomnia

question 85

Multiple Choice

If Sweet Dreams controls 85 percent of the market for insomnia drugs and the remaining 15 percent of the market includes many other, smaller competing firms, Sweet Dreams is a ______firm.

• A)monopoly
• B)competitive fringe
• C)dominant
• D)perfectly competitive

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Definitions:

Loyalty Programs

Marketing strategies designed to encourage customers to continue to shop at or use the services of businesses associated with each program.

Cost Leader

A strategy where a company becomes the most competitive in the market by having the lowest operating costs.

Walmart

A multinational retail corporation that operates a chain of hypermarkets, discount department stores, and grocery stores, known for its scale and efficiency.

Strategy

A plan of action designed to achieve a long-term or overall aim.