A Virtual Corporation

question 10

Multiple Choice

A virtual corporation:

• A) does all of its production "in house".
• B) looks for capable suppliers who can meet the specs it lays out.
• C) acts primarily as a producer.
• D) needs to have a good marketing plan.
• E) looks for capable suppliers who can meet the specs it lays out and needs to have a good marketing plan only.

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Definitions:

Consumers

Individuals or groups who purchase goods and services for personal use.

Price Promotions

Short-term strategies to reduce prices of products or services with the aim to increase customer interest and sales.

Reminder Advertising

A type of advertising aimed at keeping a brand or product in the mind of consumers, emphasizing brand recall.

Product Life Cycle

The series of stages a product goes through from introduction to the market to its decline and eventual withdrawal.