A New Drug That Has Shown Promise in Curing Skin

question 115

Multiple Choice

A new drug that has shown promise in curing skin cancer has been discovered by a famous chemical laboratory. This is the only known drug effective for treatment of this disease. The laboratory obtains a patent for the product and decides to sell it. This situation is characterized by ________.

• A) low threat of substitutions
• B) high bargaining power of customers
• C) high threat of new entrants
• D) low bargaining power of the laboratory

---

Definitions:

Global Communications

Strategic communications and actions carried out by private, government, or nonprofit organizations to build and maintain relationships in social and political environments outside their home location.

Two-Way Symmetrical Model

A concept in public relations that emphasizes mutual understanding and dialogue between an organization and its publics rather than one-way persuasion or transmission of messages.

Corporate Communications

The management function responsible for overseeing and facilitating communication within an organization and between the organization and its external stakeholders.

Organizational Branding

The process of developing and promoting a distinct identity and image for a business or organization in the mind of the target market.