In the Spotlight on Small Business Box in the Chapter,Amy

question 78

Multiple Choice

In the Spotlight on Small Business box in the chapter,Amy Scherber of Amy's Bread has found that success in her business is:

• A)almost completely dependent on widespread advertising that can reach many consumer groups.
• B)entrepreneurs such as herself have no time for promotional efforts and should outsource all promotion to specialty firms.
• C)based on building personal relationships with customers,the media,and the community.
• D)securing government contracts that require little promotional effort or costly expenditures to public relations firms.

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Definitions:

Economic Reasons

The financial or monetarily driven considerations and motivations influencing decisions, policies, or behaviors in an economic context.

Offshoring

The relocation of business processes or manufacturing to a foreign country, typically to leverage lower costs or other benefits.

Infant Industry

A new or emerging industry that may be protected by the government from international competition to allow it to grow and establish itself.

Foreign Competition

The competitive pressure that domestic companies face from the products and services offered by foreign firms in the same market.