A firm that is plagued with overcapacity, intense competition, or changing consumer desires would do better if it pursues ________ as its major objective.
A) market skimming
B) product-quality leadership
C) survival
D) profit maximization
E) market penetration

Question

Quizplus · Accepted Answer

If a firm is facing challenges such as overcapacity, intense competition, or changing consumer desires, its survival should be its major objective. The firm should focus on cutting costs, streamlining operations, and adapting to changing market conditions to ensure its longevity. Pursuing other objectives such as profit maximization or market skimming may not be feasible in such a situation.

A Firm That Is Plagued with Overcapacity, Intense Competition, or Changing