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Questions and Answers
What is the focus of marketing?
What is the focus of marketing?
- Maximizing internal production efficiency
- Expanding the organization's infrastructure
- Minimizing costs through internal operations
- Understanding customers' needs and wants (correct)
Which factor is part of Michael Porter's Five Forces of Competition?
Which factor is part of Michael Porter's Five Forces of Competition?
- Bargaining power of buyers (correct)
- Employee satisfaction index
- Market saturation level
- Advertising budget allocation
What does a large number of competitors do to your power within an industry?
What does a large number of competitors do to your power within an industry?
- Increases it
- Has no effect
- Reduces it (correct)
- Stabilizes it
What affects the bargaining power of suppliers?
What affects the bargaining power of suppliers?
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What do Michael Porter's Five Forces of Competition determine?
What do Michael Porter's Five Forces of Competition determine?
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