Explain the three factors companies use to identify principal competitors
What will be an ideal response?
• Time horizon: Narrow down the list of competitors to those posing a threat in the time horizon of the marketing
plan, typically one year. The list will generally contain direct competitors, with the occasional indirect competitor
added to the list to reflect current trends.
• Product/service life cycle: Reduce the number of competitors to those relevant for the product or service's stage
in its product life cycle. In the early stages of the product life cycle, indirect competition is more of a threat. Direct
competition is more relevant once the product matures.
• Rate of technological change: Markets with rapid rates of technological change should consider indirect
competitors as well as direct ones. The consumer electronics industry, with its high rate of change, should consider
competition more broadly than say, the food industry, with slower rates of change.
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It is usually easier to detect inadequate disclosure fraud that involves______ disclosures than it is to detect disclosure fraud that involves _______ disclosures
a. fraudulent, irrelevant b. unintentional; intentional c. misleading; missing d. missing; fraudulent
Define _______________ of your meeting
a. the schedule b. the seating chart c. the purpose d. the minutes
In identifying a "best-selling" item, advertisers are hoping to appeal to which psychological trigger?
A) Reciprocation B) Social proof C) Authority D) Commitment
An advantage to HRAs and FSAs is that
A. employees can accumulate savings with tax deferred until they take the money out at retirement. B. there is no limit to the dollar amount that can be put in those accounts or what the money can be spent on. C. employees pay income tax on the money as it goes into the account, but then it grows tax free until retirement. D. employees do not have to pay income tax on money received from their employers through these accounts.