Prime's Is a Company That Manufactures and Markets Suits for Professional

question 4

Multiple Choice

Prime's is a company that manufactures and markets suits for professional kayakers.These consumers are predominantly males in the age group of 25-45 years.This market segment that Prime's serves with a specific marketing mix is called its _____.

• A) preferred market
• B) optimum market
• C) target market
• D) dominant market
• E) elementary market

Differentiate between mediation, arbitration, negotiation, and court action as dispute resolution mechanisms.

Understand the requirements and implications of successful negotiation and arbitration.

Identify alternatives to court action and the significance of "without prejudice" statements in litigation.

Acknowledge the role of judicial review in the appeal process and the principles underlying administrative tribunal decisions.

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Definitions:

Terminate

To bring to an end or conclude something, such as a contractual agreement, employment, or a process.

Repudiation

The refusal to fulfill or acknowledge contractual obligations, often leading to a breach of contract claim.

Material Breach

A significant violation or failure to comply with a contractual duty, which can lead to the contract's termination.

Minor Breach

A violation of a contract that does not significantly harm the intent of the agreement, allowing the contract to still be fulfilled.