A Firm That Owns the Activities Performed in a Single

question 61

Multiple Choice

A firm that owns the activities performed in a single stage of its value chain is demonstrating ________.

• A) centralization
• B) decentralization
• C) horizontal integration
• D) reverse integration

Explain the concept of branding and its significance in marketing.

Understand the concept of commoditization and its effects on the market.

Identify the stages of the product life cycle and their marketing implications.

Recognize the importance and functions of customer relationship management (CRM) in marketing.

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Definitions:

Embryo

An early stage of development in multicellular organisms, in humans referring to the stage after fertilization up to the end of the eighth week of gestation.

Fetus

A developing human from roughly eight weeks after conception until birth.

Blastocyst

A stage of embryonic development in mammals, occurring roughly five days after fertilization, marked by the formation of a fluid-filled cavity and the differentiation of the embryo into two layers.

Fetal Period

The period in prenatal development from nine weeks after conception until birth, when the brain continues developing, bodily structures are refined, and the fetus grows in length and weight and accumulates fat in preparation for birth.