The strategic marketing planning process requires a careful assessment of market attractiveness and competitive position. Briefly describe what is involved in this assessment and identify three main factors for each
What will be an ideal response?
1. Market attractiveness: This step allows a company to compare the relative attractiveness of different product-markets using a common set of attractiveness criteria. Factors that typically shape market attractiveness include market forces (i.e., market size, growth rate, and buyer power), competitive intensity (i.e., number of competitors, price rivalry, ease of entry, and substitutes), and market access (i.e., customer familiarity, channel access, sales requirements, and company fit).
2. Competitive position: Drivers of competitive advantage can be categorized into three dimensions of differentiation advantage (i.e., product and service quality, and brand image), cost advantage (i.e., unit cost, transaction cost, marketing expenses and overhead expenses), and marketing advantage (i.e., market share, brand awareness, and distribution).
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Regulatory accounting principles are important to those outside the regulatory agencies because:
A. GAAP may allow reporting for assets and liabilities consistent with the way in which regulators establish rates. B. regulatory accounting principles are not compatible with GAAP. C. GAAP does not allow reporting for assets and liabilities consistent with the way in which regulators establish rates. D. the SEC requires them.
Reviewing the list of public relations functions found in Chapter 1, it is obvious that ________
A) public relations is best suited to assist nonprofit organizations B) public relations practitioners must work hard to keep their clients in the news C) public relations is largely a technical task D) public relations practitioners work with many diverse publics
Permanent differences between pretax book income and taxable income arise from tax-exempt interest revenue and certain fines
Indicate whether the statement is true or false
Ursula Corp., a manufacturer of notebooks, makes small batches of different kinds of notebooks according to the customer demand. In this way, it caters to the needs of various customers without significantly increasing the manufacturing cost. In this scenario, which of the following techniques does Ursula employ?
A. Computer-aided engineering B. Mass production C. Adjustable manufacturing D. Mass customization