What assumptions need to be made about competitive behavior for formulating pricing strategy?
What will be an ideal response?
The following information regarding the competition is of strategic importance. Efforts should be made to gather this information. Alternatively, assumptions must be made about it.
(a) Who is the competition now and who will it be in the future?
(b) What are the key competitor’s strategies, objectives, and goals?
(c) How important is a specific market to the competitors, and are they committed enough to continue to invest?
(d) What unique strengths do the competitors have?
(e) Do they have any weaknesses that make them vulnerable?
(f) What changes are likely in the competitors’ future strategies?
(g) What are the implications of the competitors’ strategies on the market, the industry, and one’s own company?
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Which of the following is not a reasonable control for fixed assets?
a. Proper authorization is required for acquisition and disposal of fixed assets. b. Fixed asset records show the location of each asset. c. Fully depreciated assets are immediately disposed of. d. Depreciation policies are in writing.
Classifying costs by behavior with changes in volume of activity involves:
A. Identifying both quantitative and qualitative cost factors. B. Identifying costs as financial or managerial. C. Identifying fixed costs and variable cost. D. Identifying costs in a physical manner. E. Identifying cost of goods sold and operating costs.
Which of the following is an exception to the Foreign Sovereign Immunities Act?
A) the sham exception B) the managed trade exception C) the diversity of citizenship exception D) the commercial activity exception
A single marketing mix consists of one type of product with little or no variation, one price, one promotional program aimed at everyone, and ____ distribution system(s) to reach all customers in the total market.
A. five B. four C. three D. two E. one