A Company's Strategy Evolves Over Time as a Consequence of

question 12

Multiple Choice

A company's strategy evolves over time as a consequence of

• A) the need to keep strategy in step with changing market conditions and changing customer needs and expectations.
• B) the proactive efforts of company managers to fine-tune and improve one or more pieces of the strategy.
• C) the need to abandon some strategy features that are no longer working well.
• D) the need to respond to the newly-initiated actions and competitive moves of rival firms.
• E) All of these.

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Definitions:

Cause Marketing

A strategy used by businesses to increase profitability by promoting social causes that resonate with their target audience, often leading to enhanced brand loyalty and community support.

Social Concern

An issue that is considered significant and impactful to society as a whole, often relating to welfare, health, or justice.

Data Mining

The practice of examining large databases to generate new information by identifying patterns, trends, and relationships.

Spending Patterns

The analysis of how individuals or groups allocate their money on various goods and services over a period.