The Bird of Paradise Flower Is One of the World's

question 104

Multiple Choice

The Bird of Paradise flower is one of the world's most stunning tropical flowers standing tall and radiant with colour. When Josiah knows he is receiving flowers from Hawaii, he e-mails all of his customers who he knows enjoys the flower, and informs them of the upcoming shipment. Josiah's program is an example of:

• A) frequent shopper programs
• B) gaining competitive advantage
• C) special customer services
• D) special customer sales promotions
• E) 1-to-1 retailing

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Definitions:

Oligopolists

Firms or entities that dominate an industry or market in an oligopoly, where a small number of companies have significant market power and influence over prices and output.

R&D

Research and development; activities undertaken by companies or governments to innovate and introduce new products or services.

Entry Barriers

Obstacles that prevent or hinder new competitors from easily entering an industry or area of business, potentially including high startup costs, stringent regulations, or strong brand loyalty among consumers.

Patent

An exclusive right given to inventors to produce and sell a new product or machine for 20 years from the time of patent application.