Why Must Marketers Constantly Monitor Their Competitors' Products, Prices, Distribution

question 66

Multiple Choice

Why must marketers constantly monitor their competitors' products, prices, distribution, and promotional efforts?

• A) because the competitors may be violating laws
• B) because the actions of competitors may threaten the firm's monopoly position
• C) because the actions of competitors may create an oligopoly within a particular industry
• D) because new competitor product offerings may require a marketing mix adjustment

Identify strategies for setting and prioritizing goals based on personal and professional missions.

Develop strategies for balancing commitments across different areas of life, including family, school, and work.

Utilize a variety of tools and technologies for effective time management and organization.

Demonstrate knowledge of how to delegate tasks and set boundaries to maximize time management.

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Definitions:

Controllable Fixed Costs

Fixed costs that a manager or business has the power to influence or change in the short term.

Contribution Margin

The amount of revenue remaining after deducting the variable costs associated with producing a product, used to cover fixed costs and generate profit.

Foreign Subsidiary

A company partially or wholly owned by another company that operates in a country different from the parent company.

Responsibility Center

A unit within an organization for which a manager is accountable, focusing on revenue, costs, or investments.