The Major Factor Increasing the Complexity of the Environment Is

question 61

Multiple Choice

The major factor increasing the complexity of the environment is the:

• A)addition of competitors.
• B)globalization of markets.
• C)increased of barriers to entry.
• D)reduced number of suppliers.

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Definitions:

Revamped Products

Products that have been modified, updated, or improved with new features, designs, or packaging to enhance appeal and meet evolving customer demands.

Risk

The exposure to potential loss or adverse outcomes as the result of uncertainty in decision-making or future events.

Test Marketing

The process of introducing a new product to a limited market to gather feedback and evaluate its performance before a full-scale launch.

Geographically Limited

Refers to products or services whose availability or relevance is restricted to a specific geographical area.