In a Turbulent Business Climate, Managers Should Focus on Strategic

question 118

True/False

In a turbulent business climate, managers should focus on strategic stability rather than flexibility.

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Definitions:

Cannibalization

The reduction in sales volume, revenue, or market share of one product as a result of the introduction of a new product by the same producer.

Multi-product Firm

A company that offers a variety of different products rather than focusing on a single line.

Reposition

The process of changing a product's place in the market, which can involve altering its image, price, features, or target audience to better meet strategic goals.

Substitute Product

A good or service that can replace another to fulfil the same needs or desires, offering an alternative choice to consumers.