Mike wants to start his own laundry service. However, he int…

Mike wants to start his own laundry service. However, he intends to first study the market and consider factors such as who his competitors are, how they function, their market shares, and how he can attract prospective customers before he decides whether his plan is viable. Mike is engaging in ________.

Kreme Makeups, Inc., an SBU of Kreme Industries, offers a wi…

Kreme Makeups, Inc., an SBU of Kreme Industries, offers a wide variety of makeup products and accessories for women. Although the market growth rate is high, the SBU’s current market share is low and it needs substantial investment. The parent company is trying to decide if Kreme Makeups has long-term sustainability before investing any more cash in it. In the context of the BCG matrix, this SBU of Kreme Industries would be classified as a ________.

Trendy Garb is a retail store that sells women’s apparel. Th…

Trendy Garb is a retail store that sells women’s apparel. The store has comprehensive rules, policies, and procedures for matters related to customer complaints and product returns. Hence, when faced with either of these situations, the store manager simply needs to refer to these guidelines and accordingly proceed. This is an example of ________.