If Consumer Tastes Change and a Focuser's Niche Disappears,the Danger

question 23

True/False

If consumer tastes change and a focuser's niche disappears,the danger for the focuser is that it might have difficulty shifting resources from its niche to another market segment.

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Definitions:

Marketing Mix

A combination of factors that can be controlled by a company to influence consumers to purchase its products, typically categorized as product, price, place, and promotion.

Not-Invented-Here Problem

A tendency within organizations to reject or not use products, research, or knowledge because they originate from outside the organization, often leading to a reinvention of the wheel or missed opportunities.

Product Quality

The degree to which a product meets or exceeds customer expectations in terms of durability, reliability, and performance.

Incomplete Market

A situation where not all futures, options, or risk categories can be completely covered or hedged due to missing financial instruments.