Answer:
Being a first mover in a market is advantageous for a firm because:
it may gain advantage through proprietary technology.
Explanation:
First mover advantage is a concept used to call the advantage a certain business has by starting to profit from an industry or sector before anyone else. It provides the advantage of experience and learning. Therefore, they gain advantage through proprietary technology by developing it to increase the efficiency of their resources.
Answer:
d. cross-functional strategies
Explanation:
In an organisation, for the proper running of all the departments or functions, proper communications and coordination is required. So implementing the cross-functional strategies can succeed when all the functional areas of the organisation are properly coordinated with each other. And by implementing these strategies we can trace out the business strategy with supporting of all functional areas. These are useful to place all functional strategies properly.
Thus the answer is d. cross-functional strategies.
Explanation:
All for-profit companies have a marketing strategy.
P&G is a business to consumer (B2C) company, so no matter how much you sell your products to large retailers, the end user will always be an individual whose needs may change and the company must be mindful that their products comply with user requirements.
P&G can establish marketing actions through retailers for which it sells, with in-store display advertising models. You can also use customer interaction to get fundamental feedback so that the company guides its pricing strategy and new product development.
So even with established market products, relationship marketing is a key strategy for large corporations that want to build customer loyalty and achieve market leadership.
Answer: D) B
Explanation:
The Producer Surplus refers to the area below the Price Floor but above the Supply Curve and left of the new Quantity supplied. It comprises of areas B and E.
Before the Price Floor was introduced, area A, B and C were the Consumer Surplus as they were above the price but below the Demand Curve.
After the Price Floor was introduced however, area B has become a Producer Surplus.
Answer:
d. Strategy implementation.
Explanation:
Strategic implementation is the process of putting the strategy into action.
After strategic planning, which is the definition of the action plans necessary for a company to achieve the defined objectives and goals, it is the phase of strategic implementation, which is the process of executing the plans defined in the planning stage.
Therefore, when implementing the strategy in an organization, it is necessary that the action plans are constantly monitored, so that the managers can have knowledge of the performance of the designed strategy, to prevent failures, correct some essential factor for the effectiveness of the action plans, monitor the internal and external environment, monitor the performance of employees, etc., in order to seek continuous improvement of the company's strategic action processes to achieve the expected objectives.
