Kim Is Applying the Position/importance Matrix as a Method to Categorize

question 58

Multiple Choice

Kim is applying the position/importance matrix as a method to categorize stakeholders in his company.The company is considering changing the colour of its product from blue to bright pink.Stakeholders who support the organization's course of action and are relatively unimportant to the company are considered _________ and a(n) __________ strategy is appropriate.

• A) low priority stakeholders; accommodation
• B) supporter stakeholders; educational
• C) low priority stakeholders; educational
• D) supporter stakeholders; accommodation
• E) None of the answers.

---

Definitions:

Elastic Demand

A situation where the quantity demanded of a good or service significantly changes as a result of a change in price.

Elastic Supply

Refers to a situation where the quantity of a good supplied by producers changes significantly in response to a small change in its price.

Inelastic Demand

A market situation where the demand for a product does not significantly change in response to price changes.

Inelastic Supply

A scenario in which the amount of a product or service provided is not significantly affected by variations in its price.