A Marketing Manager Has Just Learned About Generic Markets

question 215

Multiple Choice

A marketing manager has just learned about generic markets.This may lead the manager

• A)to see a larger set of potential competitors.
• B)to put less emphasis on market penetration or market development opportunities and more emphasis on product development opportunities.
• C)to think about new ways of satisfying the needs of his or her current customers.
• D)All these answers are correct.

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Definitions:

P-Value

The probability of obtaining test results at least as extreme as the results actually observed, under the assumption that the null hypothesis is correct.

Cost Behaviour

The study of how specific costs change in relation to changes in a company’s level of activity or volume of production.

Cost Predictions

The process of estimating the costs that a company will incur over a specific period, often used for budgeting and financial planning purposes.

Variable Costs

Costs that vary directly with the level of production or volume of output, such as materials and labor directly involved in manufacturing.