If a company wants to be a price-taker, which of the following strategies should be taken?
A) Enter a competitive market and focus on cost cutting.
B) Produce a unique product.
C) Exploit the value of a fashionable brand name.
D) Differentiate the product clearly from the competitors.
A) Enter a competitive market and focus on cost cutting.
You might also like to view...
Distinguish between skimming and cash larceny. Give an example of each
Answer the following statements true (T) or false (F)
1) In a period of rising costs, the last-in, first-out (LIFO) method results in a higher cost of goods sold and a lower net income than the first-in, first-out (FIFO) method. 2) Given the same purchase and sales data, and assuming the cost of inventory is rising, the costing methods for inventory will result in different amounts for cost of goods sold. 3) Given the same purchase and sales data, and assuming the cost of inventory is rising, the costing methods for inventory will result in different amounts for sales revenue. 4) Given the same purchase and sales data, and assuming the cost of inventory is rising, the costing methods for inventory will result in different amounts for net income.
People from countries with strong uncertainty avoidance are more likely to have shorter employment time with employers
Indicate whether the statement is true or false.
Batch ordering ______.
a. can reduce a firm’s ordering costs b. can reduce demand for products and materials c. can reduce elasticity of demand for that product d. can reduce elasticity of supply for that product