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Scenario 2-1
Golf America is a small, national golf company that owns and operates two dozen golf courses in sunbelt cities in the Southwest, Texas, Florida and North Carolina. The company prides itself on buying older courses and investing in them to increase membership, outside play, and update the facility. Members of existing clubs see tremendous changes in grounds, landscaping, food service and golf amenities when Golf America assumes ownership and management responsibilities. In each market in which it owned and operates, Golf America engages a marketing group or agency to assist with communications and promotions.
-(Scenario 2-1) Golf America just purchased a new golf course in Palm Springs. The course has long been the home of a "celebrity" golf tournament that in recent years has not been well attended. In order to spur interest in the tournament, Golf America decides to hire Golf Events & Tournaments, Inc. Which type of agency has Golf America hired for this project?
Economic Profits
The financial outcome derived from removing all explicit and implicit costs from the aggregate revenue.
Elon Musk
CEO of Tesla, Inc. and SpaceX, among other companies, known for his significant contributions to the electric vehicle and space exploration industries.
Rival Firms
Companies that compete within the same market, offering similar products or services to consumers.
Creative Destruction
A process in economics where innovation leads to the demise of existing structures and businesses, paving the way for new ones.
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