In Order to Be Successful, a New Entrepreneurial Enterprise Should

question 47

True/False

In order to be successful, a new entrepreneurial enterprise should be sheltered from the global environment until it is firmly established in domestic markets.

Identify dynamics affecting profitability in spite of barriers to entry, such as substitute products and industry growth rate.

Recognize strategies to decrease buyer power and to command higher prices for products.

Understand the significance of unique, valuable, and hard-to-imitate resources in sustaining competitive advantage.

Delineate the characteristics and assumptions underlying the Resource-Based View.

---

Definitions:

Franchised Pizza Restaurant

A pizza restaurant operating under a franchise agreement, using the branding, business model, and menu of the franchisor.

Media

Various means of communication, such as television, newspapers, the Internet, and radio, used for disseminating information to the public.

PSAs

Public Service Announcements are communications broadcasted by the media for free, aimed at enlightening the public or modifying societal attitudes and actions regarding a social matter.

Product Placement

A marketing strategy that involves placing branded goods or services within the context of a selected media content for promotional purposes.