In an Uncertain Environment, Managers Want to Develop ________ Plans

question 90

Multiple Choice

In an uncertain environment, managers want to develop ________ plans.

• A)general and flexible
• B)specific but flexible
• C)formal
• D)contingency
• E)mini day-to-day

Understand the concepts and benefits of differentiated targeting strategies.

Recognize the importance of market segmentation and the selection of a target strategy.

Identify the process and significance of positioning products or services in the market.

Understand micromarketing and its application to target marketing efforts.

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Definitions:

Marginal Cost

The incremental cost of producing one more unit of a good or service.

Assembly Cost

The total expense incurred in putting together the components or parts of a product, typically in manufacturing.

Optimal Transfer Price

The price set for goods or services sold between divisions within the same company to maximize overall company profit.

Competitive Market

A market structure characterized by a large number of buyers and sellers, similar products, and easy market entry and exit, leading to competitive prices.