Describe four broad strategies employed by market followers to meet their competitors. Which of these is unethical?
What will be an ideal response?
These broad strategies include:
1. cloner-the cloner emulates the leader's products, name, and packaging, with slight variations
2. imitator-the imitator copies some things from the leader but maintains differentiation in terms of packaging, advertising, pricing, or location
3. adapter-the adapter takes the leader's products and adapts or improves them
4. counterfeiter-the counterfeiter duplicates the leader's product and package and sells it on the black market or through disreputable dealers
A counterfeiting strategy is unethical as well as illegal.
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a. efficiently placing merchandise on the sales floor b. effectively coordinating shipments from various suppliers c. effectively minimizing markdowns through timing markdowns d. effectively returning damaged goods to their vendor
Western Union's role in foreign-exchange trading is best described as ________
A) setting a fair exchange rate in multiple currencies B) transferring currency from one country to another C) transferring Mexican pesos from the United States to Mexico D) handling all money transfers that occur between North and South America