This payoff matrix gives potential dollar gain values in millions for strategies S1, S2, S3, and S4 for the Bent Fork National Bank and competitive strategies CA1, CA2, and CA3 for the Straight Spoon Bank
If Bent Fork is optimistic, which strategy will it choose?
CA1 CA2 CA3
S1 3 24 17
S2 15 16 14
S3 8 19 10
S4 20 2 11
A) S1
B) S2
C) S3
D) S4
Answer: A
Explanation: The S1 strategy gives the greatest possible gain, 24, a chance for Bent Fork to maximize its success. For an optimist, this is the best choice because it allows Bent Fork to capitalize on its feeling that it will be successful.
You might also like to view...
Which of the following is direct communication between a sales representative and one or more prospective buyers, for the purpose of making a sale?
a. sales promotion b. trade promotion c. personal selling d. direct marketing
Clearwater Spa operates on the premise that service quality is the main reason that customers come to the spa, and the attendants are trained to provide excellent service. Despite this, the spa rarely has repeat customers
Clearwater began collecting feedback from customers to find out the reason for this. The management realized that although the customers were happy about the services, they did not like the ambience. What kind of a gap is causing the unsuccessful service delivery in this situation?