10 Questions
What is the meaning of 'Product Elimination'?
Withdrawing a product from the market
What is a purpose of 'Principles of Marketing' mentioned in the text?
Ensuring future growth of the company
What is a disadvantage of diversification mentioned in the text?
Considerable investment
What does 'Inter-product competition' refer to in the text?
Competition between different products of the same company
What are indicators of 'Product Elimination' according to the text?
Products that cannot be improved or modified for the market
What are some disadvantages of diversification mentioned in the text?
Considerable investment, long pay back periods, enormous risks, full line competition, uneconomic production, inter-product competition.
What is the meaning of 'Product Elimination' according to the text?
The process of withdrawal of a product from the market.
What is the purpose of 'Principles of Marketing' mentioned in the text?
It ensures future growth of the company by exploiting new markets, prevents new entrants in the field, and helps to meet competition.
What does 'Inter-product competition' refer to in the text?
It refers to competition between different products offered by the same company.
What are some indicators of 'Product Elimination' according to the text?
There are some products which cannot be improved or modified to market. In that case, it would be profitable to withdraw the product from the market.
Test your knowledge of business principles with this quiz on Diversification. Challenge yourself with questions about the advantages and disadvantages of diversification in the business world.
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