A Company Will Likely Lose Market Share If It Does

question 30

Multiple Choice

A company will likely lose market share if it does not closely align its channel mix to

• A) customer needs.
• B) supply chain needs.
• C) retailer needs.
• D) competitive activity.
• E) its marketing communications strategy.

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Definitions:

Economic Rent

The excess payment for a factor of production over its opportunity cost, highlighting the benefits received from a unique advantage or situation.

Demand for Labor

the quantity of workers that employers are willing and able to hire at a given wage rate in a given time period.

Supply of Labor

The total hours that workers are willing and able to work at a given wage rate, over a certain time frame.

Supply of Capital

The total resources, financial and otherwise, available for investment in production.