Innovation Should Be Brand Driven

question 2

Multiple Choice

Innovation should be brand driven. What types of brands emphasize radical innovation that drives markets?

• A) Follower brands
• B) Creative brands
• C) Heritage brands
• D) Share leaders

Describe the role of competition and cooperation within a business ecosystem.

Understand the significance of forecasting and innovation in business strategy.

Grasp different Internet business models and their basis of competitive advantage.

Know the components of a SWOT analysis and its role in strategic management.

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Definitions:

Perfectly Elastic

A situation where the demand or supply for a good or service is infinitely responsive to changes in price.

Long-Run Supply Curve

A graphical representation showing the relationship between the price of a good and the quantity supplied after all inputs have been adjusted to their optimal levels.

Increase in Demand

A shift in the demand curve to the right, signifying that consumers are willing to purchase more of a good or service at the same prices, due to factors like increased income or changes in tastes.

Equilibrium Price

The market price at which the quantity of a good or service demanded equals the quantity supplied, leading to market equilibrium.