Firms That Occupy Second, Third, and Lower Ranks in an Industry

question 23

Multiple Choice

Firms that occupy second, third, and lower ranks in an industry can adopt two postures in responding to competition. First, they can attack the leader and other competitors in an aggressive bid for further market share. Second, they can

• A) not worry about the immediate future and focus on long-term results (market maturation).
• B) play ball and not "rock the boat" (market followers).
• C) give up and quit (market abandonment).
• D) relinquish their own share to industry leaders (market capitulators).
• E) form alliances with enemies (market organizational constriction).

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Definitions:

T-Distribution

A probability distribution that arises in the sampling distribution of sample means, especially useful when the sample size is small and the population variance is unknown.

Population Mean

The average value of all members of a defined set of people, objects, events, or values of interest.

T Distribution Table

A table used in statistics that shows the critical values of the t-distribution, aiding in hypothesis testing and confidence interval estimation.

Degrees Of Freedom

A concept in statistical analysis that represents the number of values in a calculation that are free to vary without violating any given constraints.