The Main Purpose of a Reduced-Market-Focus Strategy Is to ________

question 58

Multiple Choice

The main purpose of a reduced-market-focus strategy is to ________.

• A)enter new market-segments
• B)become more efficient
• C)increase market share
• D)develop new markets
• E)increase customer loyalty

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Definitions:

Market-based Economy

An economic system where prices and the distribution of goods are determined by supply and demand in a free market.

Mercantilism

An economic theory prevalent in the 16th to 18th centuries focusing on maximizing a nation's exports and minimizing imports to accumulate wealth and precious metals.

Communism

A political and economic ideology advocating for a classless society in which all property and resources are communally owned and controlled by the public or the state.

Gross Domestic Product

The total value of all goods and services produced over a specific time period within a country's borders.