Which type of market coverage choice is best suited for companies with limited resources? Why?
What will be an ideal response?
Niche marketing allows companies with fewer resources to gain a strong position within their segment through a better understanding of customers. The financial resources required for niche marketing are not as substantial as those required for undifferentiated or differentiated marketing.
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The company with the highest ratio of costs of conformance to total costs of quality is the most likely to succeed
Indicate whether the statement is true or false
Collegiate Products produces and sells padded stadium seats emblazoned with a university logo. The company has the capacity to produce as many as 6,000 seats per month but consistently averages much less. When 4,500 seats are produced, each seat has $5 of variable costs and $2 of fixed overhead costs allocated to it. The seats typically sell for $12 each. The company has been approached by a
small college who wishes to purchase 500 seats for special alumni at a price of $5 per seat. If the special order were accepted, net income would: A) decrease by $1,000. B) increase by $2,500. C) decrease by $12,500. D) not change.
A technology that displaces an established technology and shakes up the industry, or a groundbreaking product that creates a completely new industry is referred to as
A. inventive technology. B. creative technology. C. product revamping. D. disruptive technology. E. planned obsolescence.
A hospital-billing auditor has been inspecting patient bills. While almost all bills contain some errors, the auditor is looking now for large errors (errors in excess of $250 )
Each day last week, the auditor examined 100 bills and found an average defect rate of 16%. Calculate the upper and lower limits for the billing process for 99.73% confidence.