The Apex Corporation Has Sold the Same Product Since Its

question 60

Multiple Choice

The Apex Corporation has sold the same product since its entry into the marketplace.Each time the sales of its product have slipped,the firm has responded by cutting prices and increasing promotions.In spite of its efforts,sales continued to decline.Apex's 'product-focused' response is evidence of ________.

• A)a profit-maximisation philosophy
• B)production myopia
• C)maximisation myopia
• D)marketing myopia
• E)the marketing concept

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Definitions:

Alternative Hypothesis

A statistical hypothesis that suggests there is a difference or relationship between two variables, as opposed to the null hypothesis, which suggests there is no effect or relationship.

Scientific Methods

A systematic and logical approach to discovering how things in the universe work, involving observation, hypothesis formulation, experimentation, and conclusion drawing.

Positive Feedback Loop

A process where the end product of an action causes more of that action to occur in a feedback loop that amplifies itself.

Negative Feedback Loop

A process in a system where some function of the output of a system process reduces the effect of changes in the input, stabilizing the system.