Define the term "market leadership." Why do firms work hard to obtain market leadership?
What will be an ideal response?
Market leadership occurs when a firm is the number one or number two firm in an industry or niche market in terms of sales volume. Many firms work hard to achieve market leadership, to realize economies of scale in production, and to be recognized as the brand leader. Being the market leader also permits a firm to use slogans such as "Number 1 Software Producer in America" in its promotions, helping the firm to win customers and attract talented employees, as well as business partners.
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Making positional commitments in a conflict would illustrate which of the following conflict-handling strategies?
a. forcing b. avoiding c. yielding d. problem solving e. compromising
Which of the following lenders would MOST LIKELY have a major portion of their assets in real estate loans on single family residential housing?
A. Federal Housing Administration (FHA). B. Mortgage brokers. C. Savings associations. D. Insurance companies.