Entrepreneurs look at five basic ways of opportunity for business ideas. Which is not one of those five?
A. developing a new market for an existing product
B. producing a product more cheaply
C. finding new ways to use existing technology
D. raising prices in an existing market
Answer: D
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The key assumption underlying the marketing concept is that ________.
A. consumers are most interested in obtaining generic products at low prices B. if manufacturers make a product, consumers will buy it C. consumers are unlikely to buy a product unless they are aggressively persuaded to do so D. a company must determine the needs and wants of specific target markets and satisfy consumers' needs better than the competition E. the primary focus of a business should be producing as much as it can, in the cheapest way possible
Bonnie contracts to deliver a crop of soybeans to Farmers Co-op. A tornado destroys the crop on her farm. The buyer insists that she deliver by acquiring soybeans on the open market. She claims that this is prohibitively expensive. Her best argument against enforcing the contract is
A. frustration of purpose. B. objective impossibility of performance. C. anticipatory repudiation. D. commercial impracticability.
One risk of executing a store promotion that results in brand cannibalization is that the promotion could ______.
A. create inaccurate sales forecasts for both the promoted and cannibalized products. B. create inaccurate sales forecasts for the promoted product and none for the cannibalized products. C. increase the accuracy of the sales forecasts for both the promoted and cannibalized products. D. create accurate sales forecasts for the promoted product and none for the cannibalized products.
Why do countries have their own unique set of financial reporting practices?
What will be an ideal response?