Describe the four broad strategies often employed by market followers to meet their competitors
What will be an ideal response?
These broad strategies include:
1. counterfeiter — the counterfeiter duplicates the leader's product and package and sells it on the black market or through disreputable dealers
2. cloner — the cloner emulates the leader's products, name, and packaging, with slight variations
3. imitator — the imitator copies some things from the leader but maintains differentiation in terms of packaging, advertising, pricing, or location
4. adapter — the adapter takes the leader's products and adapts or improves them
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On April 12, Hong Company agrees to accept a 60-day, 10%, $5400 note from Indigo Company to extend the due date on an overdue accounts payable. What is the journal entry needed to record the transaction by Indigo Company?
A. Debit Accounts Receivable $5400; credit Notes Payable $5400. B. Debit Accounts Payable $5400; credit Notes Payable $5400. C. Debit Notes Payable $5400; credit Accounts Payable $5400. D. Debit Sales $5400; credit Notes Payable $5400. E. Debit Cash $5400; credit Notes Payable $5400.
The purchasing agent is responsible for developing the direct materials quantity standard
Indicate whether the statement is true or false
A conversion variance combines labor and overhead variances
Indicate whether the statement is true or false
BluTech asks applicants to resolve an error in a piece of code similar to the type of issues they would have to deal with in the job for which they are applying. Because this knowledge and skill is necessary to perform the job, the test is said to have
A. criterion-related validity. B. content validity. C. construct validity. D. concurrent validity.