A Mid-Level Manager Has Tried for Years to Get His

question 80

Multiple Choice

A mid-level manager has tried for years to get his company to adopt a marketing orientation.Although many in the company are receptive to his ideas, it is unlikely that the company will ever truly become marketing-oriented without:

• A)the support of competitors.
• B)changes in government regulations.
• C)increases in tariffs on foreign products.
• D)the support of executives, managers, and customers.
• E)the consent of assembly-line workers.

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Definitions:

Barriers to Entry

Factors that make it difficult for new firms to enter a market, such as high startup costs, stringent regulations, or strong competition from existing firms.

Administered Prices

Prices that are set by the company rather than determined by market demand and supply conditions; often found in less competitive markets.

Cartel

An association of independent businesses or countries agreeing to coordinate their production and pricing to monopolize a market or maximize profits.

Cutthroat Competition

Cutthroat competition describes an extremely competitive market situation where participants engage in aggressive price-cutting and other practices to gain market share.