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Exam (elaborations)

Buad 453 Final Exam Questions With Correct Answers

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BUAD 453 FINAL EXAM QUESTIONS WITH CORRECT ANSWERS

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Preference of consumers for the products of established companies


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Brand loyalty




Measuring how well a company is doing by comparing it to another company, or to
itself, over time.

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Benchmarking




When a company decides to serve many segments, or even the entire market,
producing different offerings for different segments.


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Segmentation Strategy




an action between two companies to pool their resources and operations and join
together to better compete in a business or industry


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merger




The purpose of the company, or a statement of what the company strives to do.


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Mission




a bias that arises from our predisposition to estimate the probability of an outcome is
to imagine

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availability error




When a company targets a certain segment or niche, and tries to be the low-cost
player in that niche.


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Focus low-cost strategy




when one company assumes the responsibility for determining the pricing strategy
that maximizes industry profitability


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Price leadership




The synergies that arise when one or more of a diversified company's business units
are able to lower costs or increase differentiation because they can more effectively
pool, share, and utilize expensive resources or capabilities.


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Economies of scope

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