Firms That Were Successful in the Past Can Fail Today

question 95

Multiple Choice

Firms that were successful in the past can fail today because

• A) they keep pace with changes in the nature of competition.
• B) the company strategy is outdated.
• C) their financial situation is resilient.
• D) management monitors the relevant environmental factors regularly.

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Definitions:

Law of Averages

The principle that over a large number of events, outcomes will roughly equal the probability of occurrence over time.

Prospecting

The process of identifying and reaching out to potential customers for a business's products or services.

Direct Mail

A marketing strategy that involves sending physical promotional materials directly to potential or existing customers.

Potential Customers

Individuals or organizations that are likely to be interested in a company's products or services but have not yet made a purchase.