Which of the Following Is an Advantage of a Small

question 117

Multiple Choice

Which of the following is an advantage of a small organization?

• A)Scale economies
• B)Lower operating costs
• C)Greater purchasing power
• D)Easier access to capital
• E)Greater employee involvement

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Definitions:

Market Penetration

A business growth strategy involving efforts to increase market share within an existing customer base or market segment, often by competitive pricing, advertising, or product improvements.

Abercrombie & Fitch

An American lifestyle retailer that focuses on casual wear for young consumers, known for its distinctive brand image and marketing strategies.

Market Segment

A distinct group of consumers within a broader market who share similar needs, preferences, or characteristics that a company targets with specific products or marketing strategies.

Market Development

Involves expanding the potential market through new users or new uses for a product, aiming at increasing the total market for the product.