Market development strategies allow a firm to invest additional resources to have existing customers consume new products.
Answer the following statement true (T) or false (F)
False
Market development strategies allow for expansion of the firm's product line into heretofore untapped markets, often internationally. Product development strategies recognize the opportunity to invest in new products that will increase usage from the current customer base.
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Budgets assign resources and the responsibility to use them wisely to managers who are held accountable for their results
Indicate whether the statement is true or false
To create a meaningful performance report,
A) actual costs are compared with the expected costs found in the static budget. B) actual costs are calculated as a percentage of sales. C) actual costs are compared with the prior year's actual costs. D) expected costs of the static budget are compared with the expected costs of the flexible budget. E) actual costs are compared with the expected costs at the same level of activity.
Pete negotiates a deal for the sale of certain real estate to Owen. Pete promises to hold the offer open in return for a small payment but does not state an exact period of time. With respect to this offer A) the deal is binding except for Pete's promise to hold the offer open
B) a reasonable period of time is implied. C) Pete must hold the offer open for an indefinite period. D) ?the deal is done.
Refer to Table 5-1. At 600 units of production, the Steel Shelf Company has total variable costs of
A) $12,000. B) $1,000. C) $5,000. D) $6,000.