Compare and contrast market penetration with diversification
What will be an ideal response?
Answer: Market penetration involves selling more of a firm's existing products into the markets it already serves. Diversification refers to creating new products for new markets. Market penetration can be the least risky because your products already exist and the market has already demonstrated some level of demand for your products. However, diversification has high levels of risk. It involves creating new products for new markets which is usually the riskiest choice of all because you encounter uncertainties in both products and market dimensions.
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What is the term used to decribe the practice of selling products in a foreign market for less than in its home country?
a. Exporting b. Importing c. Pumping d. Dumping e. None of the above
According to the text, the time horizon of a strategic plan will vary according to
A. the age of the firm and the stability of its market. B. the geographic scope of the company and how technologically advanced the company's industry is. C. the size of the company and the size of its industry. D. the diversity of a company's operations and the company's vision. E. the financial scale of the company and its mission.
You had a problem with Internet connection at home. You called the Internet service company for technical support. You heard the voice message, saying that "we have a high call volume now and your call will be answered in a few minutes. Or you can leave a message and we will return your call as soon as possible". You left a message and it took quite a while for the company to get back to you. You realized that the company was not so good at customer service and technical support. This fact triggered your negative feeling about the company and you disliked such a slow response to a problem. You decided to switch to another Internet service company. Which of the following true about your attitude toward the company?
a. Cognitive component - You did not like the slow response from the company. b. Affective component - You found out that the company was not good at customer service. c. Behavioral component - You switched to another Internet service company. d. All of the above.
The signature of a person's electronic agent can constitute a valid electronic signature.
Answer the following statement true (T) or false (F)