Why is niching profitable?
What will be an ideal response?
The main reason a market nicher can succeed is that it ends up knowing the target customer group so well that it meets the group's needs better than other firms that casually sell to that niche. As a result, the nicher can charge a substantial markup over costs because of the added value. Whereas the mass marketer achieves high volume, the nicher achieves high margins.
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The two methods of accounting for cost flows in process costing are weighted average and last-in first out
Indicate whether the statement is true or false
The superior position a product enjoys over competing products if consumers believe it has more value than other products in its category is referred to as a
A. product plus. B. competitive advantage. C. product edge. D. marketing advantage. E. value proposition.
Phase gate methodology is an example of an oversight activity.
Answer the following statement true (T) or false (F)
The fraction of product demand that is satisfied from product in inventory is the
A) customer fill rate. B) product fill rate. C) order fill rate. D) cycle service level (CSL).