Define superficial similarities and structural similarities. Which of the two is considered the more challenging for entrepreneurs?
What will be an ideal response?
1. Superficial similarities exist when the basic (relatively easy to observe) elements of the technology resemble (match) the basic (relatively easy to observe) elements of the market.
2. Structural similarities exist when the underlying mechanisms of the technology resemble (or match) the underlying mechanisms of the market.
Structural similarities were identified as the most challenging.
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Like sales revenue, cost of goods sold represents an inflow of assets
a. True b. False Indicate whether the statement is true or false
Which of the following best links the consumer and the marketer through information that can be used to identify marketing opportunities and problems?
A) viral marketing B) mission statement C) marketing research D) stealth marketing
Revenue should be recognized, even when collectibility is not reasonably assured
Indicate whether the statement is true or false
Answer the following statements true (T) or false (F)
1. The operating cycle is measured based on the time it takes to convert an investment in cash into inventory and then back into an invoiced sale to customers. 2. The purpose of the income statement is to describe how much revenue was generated and what the associated level of expenses was. 3. Cost of goods sold (COGS) includes marketing and advertising costs. 4. Operating expenses (OPEX) includes electricity bills tied to manufacturing facilities.