After Assessing the Market Growth Potential in Canada for His

question 2

Multiple Choice

After assessing the market growth potential in Canada for his company's biking gear, Owen wanted to evaluate market competitiveness. To do this, Owen would consider

• A)mass marketing of distribution potential and logistical support.
• B)the current size of the market and the expected growth rate.
• C)ease of pricing control and number of promotional outlets.
• D)the number of competitors, entry barriers, and product substitutes.
• E)profitability and customer buying behavior.

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Definitions:

Marginal Revenue

The change in total revenue generated by an additional unit of output.

Marginal Cost

The growth in aggregate costs linked to creating an extra unit of a product or service.

Pastry Chef

A professional cook specializing in the creation of desserts, pastries, breads, and other baked goods.

Average Product

The output per unit of input, calculated by dividing total output by the total quantity of input.