Although There Was a Financial Crisis in 2007-2010, Some Firms

question 43

Multiple Choice

Although there was a financial crisis in 2007-2010, some firms were able to weather the crisis.These firms had all of the following characteristics which were directly responsible for their ability to survive the crisis EXCEPT:

• A)Tight control over fixed and variable costs
• B)Low business risk
• C)A business model which encouraged risk taking by management that paid off
• D)Low product pricing

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Definitions:

Market Modification Strategies

Approaches companies use to increase their market share or profitability by altering market conditions, products, or how products are perceived.

Product's Appearance

The visual aspects of a product including its design, packaging, color, and overall aesthetic appeal that can influence consumer perceptions and decisions.

Market Modification

Strategies or actions taken by a company to extend the life of a product or to increase its appeal by altering its market position or target audience.

Product's Characteristic

A defining attribute or quality of a product that may influence the consumer's purchase decision.