Which of the Following Areas Within a Company's Total Value

question 54

Multiple Choice

Which of the following areas within a company's total value chain system can managers use to improve efficiency and effectiveness?

• A) a company's own internal activity segments, the suppliers' part, and the forward (distribution) channel portion of the value chain system
• B) a company's reinforced activities identified as efficiency measures for improved effectiveness
• C) only the internal activity segments
• D) only the suppliers' part
• E) only the distributors' channel portion

Recognize the role and characteristics of innovators in the diffusion of innovations curve.

Identify the most critical step in the new product development process and justify why.

Understand the dynamics of competitive responses in product marketing and development.

Explain the concept of "new-to-the-world" products and their impact on markets and consumer behavior.

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Definitions:

Excludable

A characteristic of a good or service that allows its owner to prevent others from using it without paying for it.

Free Rider

A person who receives the benefit of a good but avoids paying for it

Free-Rider

An individual who benefits from resources, goods, or services without paying for the cost of the benefit.

Market Forces

The economic factors affecting the price, demand, and availability of goods and services in a free market, primarily driven by supply and demand.