When a New Product or a New Retail Chain Steals

question 160

Multiple Choice

When a new product or a new retail chain steals customers and sales from older existing ones of an organization, it is referred to as

• A)cannibalization.
• B)amortization.
• C)product appropriation.
• D)product pilfering.
• E)marketing Darwinism.

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Definitions:

Three-Sigma

A statistical term that represents a range of values within three standard deviations from a mean in a normal distribution, often used to measure quality control.

Defects Cut

A metric or process aiming to reduce the number of defects or errors in a product or process, enhancing quality and performance.

TQM Program

"Total Quality Management" program; an organization-wide effort to infuse quality into every activity through continuous improvement.

Centralized Decision-Making

A decision-making approach where major decisions are made by a small group or single entity within the organization, often at the top level.