Why is it important for marketers to assess competitors before entering a market segment?
What will be an ideal response?
Besides obtaining sales estimates, it is crucial to assess competitors that are already operating in the segments being considered. A market segment that initially seems attractive based on sales estimates may turn out to be much less so after a competitive assessment. Such an assessment should ask several questions about competitors: How many exist? What are their strengths and weaknesses? Do several competitors already have major market shares and together dominate the segment? Can our company create a marketing mix to compete effectively against competitors' marketing mixes? Is it likely that new competitors will enter this segment? If so, how will they affect our firm's ability to compete successfully? Answers to such questions are important for proper assessment of the competition in potential market segments.
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If the ending inventory is understated for any reason,
a. net income will be overstated. b. net income will be understated. c. liabilities will be overstated. d. liabilities will be understated.
A _______________________________ is a formal initiative in which workers and union leaders participate in organizational decision making beyond the daily work-related decisions of employee empowerment or collective bargaining.
Fill in the blank(s) with the appropriate word(s).
Marilyn brought her $400 silk dress to University Dry Cleaners to be cleaned. On the back of the ticket she received in exchange for the dress was written, "Liability limited to five times the cost of cleaning." Marilyn's dress was lost and University now claims it owes her no more than $53.25, five times the cost of cleaning. Is that true?
a. No, because Marilyn is not a bailor. b. No, because University is a common carrier. c. No, because the limitation was not communicated to her. d. No, because the limitation is unconscionable.
The glass ceiling is best described as a _____.
A. gender-related problem B. race-specific issue C. program in diversity training D. process in knowledge management