A Popular Low-Cost Airline, Parson Corp

question 57

Multiple Choice

A popular low-cost airline, Parson Corp., has gone out of business. Although the service and price provided by the airline was what customers wanted, the larger airlines were able to drive the low-cost airline out of business through an aggressive price war. Which component of the competitive environment does this illustrate?

• A) customers
• B) competitors
• C) regulators
• D) economic factors
• E) threat of new entrants

Determine the core components of an organization's strategy and its significance for success.

Analyze the challenges and opportunities in developing marketing strategies in the current economic landscape.

Understand the multidimensional impacts (emotional, physical, environmental) of stressors or crisis events.

Differentiate between stress and crisis in terms of their characteristics and variables.

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Definitions:

Consumer Markets

A sector where businesses sell products or services directly to individuals for private and household use, creating demand for various goods.

Behavioral Characteristics

Attributes that describe patterns of action and reaction of individuals or groups, often used in studying consumer behavior, employee performance, and social interactions.

Demographic Segmentation

The process of dividing a market into segments based on demographic factors such as age, gender, income, education, or ethnicity.

Consumer Markets

The markets consisting of individuals and households that purchase goods and services for personal consumption.