The What Went Wrong Feature in Chapter 13 Focuses on Wesabe

question 41

Multiple Choice

The What Went Wrong feature in Chapter 13 focuses on Wesabe, a Web-based company that was launched in 2006 to help people manage their personal finances. According to Marc Hedlund, one of Wesabe's cofounders, the company failed for two primary reasons. First, it didn't allow a partner to provide it with an essential service that it decided to build on its own. Second, it ________.

• A) didn't hire an experienced CEO
• B) didn't achieve a large enough critical mass of users
• C) didn't implement a revenue model fast enough
• D) didn't utilize both internal and external growth strategies
• E) misunderstood its users

Differentiate between the market structures based on concentration measures and profitability.

Understand the relationship between market structure, efficiency, and the allocation of resources.

Understand the concept and characteristics of monopolistic competition.

Comprehend how product differentiation impacts market structure in monopolistic competition.

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Definitions:

Independence

The state or quality of being self-reliant, free from external control or support.

Perceiving Oneself

The process of becoming aware of and understanding one's own identity, characteristics, and feelings.

Helping Behaviour

Helping behavior is actions taken to assist others without expectation of reward, often motivated by empathy or moral values.

Attractiveness

Qualities or characteristics of a person or thing that evoke interest, desire, or pleasure in others.