Which three groups of customers can help expand a firm's market demand?
What will be an ideal response?
Every product class has the potential to attract buyers who are unaware of the product or are resisting it because of price or lack of certain features. A company can search for new users among three groups: those who might use it but do not (market-penetration strategy), those who have never used it (new-market segment strategy), or those who live elsewhere (geographical-expansion strategy).
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As a manager, you lead by example through demonstrating high performance. You set high performance expectations for your subordinates and support their progress toward reaching these goals with frequent feedback. What is your management style?
A) Team leader B) Country club C) Middle of the road D) Authoritarian
The production schedule in units:
A. Cannot be prepared until the budgeted income statement is completed. B. Is dependent upon the sales forecast for the period. C. Is based upon the manufacturing cost budget, that is, upon the level of funds available for manufacturing costs. D. Is the starting point in the preparation of the master budget.