Match Each Definition to the Corresponding Term

question 23

Multiple Choice

Match each definition to the corresponding term.
-A firm that adopts a _____,attempts to capture the greatest market share and develop long-term relationships by being the pioneer to enter the market with a good or service.

• A)planning
• B)marketing planning
• C)strategic planning
• D)tactical planning
• E)cash cows
• F)first mover strategy
• G)SWOT analysis
• H)strategic window
• I)marketing mix
• J)product strategy
• K)strategic business units
• L)Porter's Five Forces
• M)marketing strategy
• N)dogs
• O)stars
• P)annual growth rate

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Definitions:

Marginal Cost

The surplus cost attributed to generating one more unit of a product or service.

Production Function

A mathematical representation showing the relationship between input factors and the output of goods or services.

Competitive Markets

Markets characterized by many buyers and sellers, where no single participant has significant influence on price or product offerings.

Fixed Costs

Costs that do not vary with the level of output production, such as rent, salaries, and insurance.