Which of the Following Statements About the Competitive Environment Is

question 121

Multiple Choice

Which of the following statements about the competitive environment is most accurate?

• A) Firms that produce a quality product will always succeed in the competitive marketplace.
• B) Traditional firms will be unable to successfully compete against the new online firms unless they immediately create a way to reach customers through the Internet.
• C) Firms that empower their employees will continue to perform poorly in the competitive environment.
• D) Companies now have to offer both high-quality products and outstanding service at competitive prices.

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Definitions:

Observational Data

Facts and figures obtained by watching how people actually behave, using mechanical, personal, or neuromarketing data collection methods.

Primary Data

Original and direct data collected by a researcher firsthand for a specific research purpose or project.

Mechanical Methods

Pertains to procedures and techniques involving machinery or tools in processes such as manufacturing or data processing.

External Secondary Data

Information collected from outside sources that has already been gathered for some purpose other than the current research need.