What is meant by served market? What factors determine the served market?
What will be an ideal response?
A served market is considerably narrower in scope and smaller in size than the total market. The decision on served market is based on perceptions of which product function and technology groupings can be best protected and dominated; internal resource limitations; cumulative trial-and-error experience in reacting to threats and opportunities; and unusual competencies stemming from access to scarce resources or product markets.
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Radio frequency identification (RFID) technology enables us to conduct transactions and to make payments quickly.
Answer the following statement true (T) or false (F)
Which of the following regarding direct costs is a correct statement?
A. Direct costs are easily traced to cost objects. B. Direct costs are never selling and administrative expenses. C. Direct costs are always fixed costs. D. Direct costs are always variable costs.
If a corporation is liquidated, preferred stockholders are paid before the creditors and before the common stockholders
Indicate whether the statement is true or false
________ can occur when a company purposefully makes pricing decisions to undercut one or more competitors and gain sales and net market share.
A. Price discrimination B. A price war C. Price skimming D. Cost leadership E. Price elasticity of demand