Explain the concept of reverse innovation by giving an example of this practice.
What will be an ideal response?
Reverse innovation is when companies initially develop products for niche or underdeveloped markets, and then expand them into their original or home markets. Specific examples will vary.
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Which type of market segmentation is generally used by marketers who sell luxury products targeted to the affluent segments of a population?
A) usage rate B) occasion C) income D) benefits sought E) gender
Arnold has offered to take Bob into his accounting firm as a partner upon payment of $5,000 cash. In response, Bob says, "I'll give you $3,000 cash now and I will pay you the remainder in two months after I see whether things are working out as a partnership."
a. Bob has made a counteroffer and hence there is no contract. b. Bob has rejected the terms of the original offer, but there is still a contract. c. Under Article 2 of the UCC, Arnold is a merchant making a firm offer. Hence there is a contract. d. Any indefinite provisions in the contract between Arnold and Bob will be supplied by Article 2 of the UCC.
Regulatory zoning of adult bookstores is not permitted because of First Amendment protections
Indicate whether the statement is true or false
Which of the following statements concerning pro forma disclosures is not true?
A. The SEC requires these to be presented only when the company has made an unusual asset exchange, or a restructuring of existing indebtedness. B. They show the effects of major transactions that occur after the end of the fiscal period. C. They often take the form of summarized financial statements. D. They show the effects of major transactions that have occurred during the year but are not fully reflected in the company's historical cost financial statements.