Which of the following is a reason that a firm might want to abandon products or markets?
A)The market environment has changed, making a product more profitable.
B)The firm has entered areas in which it does not have experience.
C)The economic climate is showing signs of recovery.
D)The firm has grown too slowly.
E)The firm has products which are slowly becoming more appealing to the customer.

Question

Quizplus · Accepted Answer

If a firm enters into markets or product areas without sufficient experience, it may face difficulties in managing those areas effectively. In such a scenario, the best strategy might be to abandon those areas to focus on the core competencies that the firm possesses. The other options listed do not present a compelling reason for a firm to abandon products or markets.

Which of the Following Is a Reason That a Firm