The firm Patrick started nearly a decade ago is commonly referred to as a market leader. Upon reflecting on the leadership status of his company, Patrick considered the qualities that could eventually bring a firm to a leading position in the marketplace. Which of the following is likely NOT a reason in Patrick's mind for a company being classified as a "leader"?

a. Sometimes a company is said to be the leader because it has the largest market share. b. Sometimes a company is said to be a leader because it was first to market. c. Sometimes a company is said to be a leader because it is a consistent and profitable follower. d. Sometimes a company is known for being innovative or quick to improve some other company's ideas.

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Business

Ismael Colon

Yesterday, 23:09

The firm Patrick started nearly a decade ago is commonly referred to as a market leader. Upon reflecting on the leadership status of his company, Patrick considered the qualities that could eventually bring a firm to a leading position in the marketplace. Which of the following is likely NOT a reason in Patrick's mind for a company being classified as a "leader"?

a. Sometimes a company is said to be the leader because it has the largest market share. b. Sometimes a company is said to be a leader because it was first to market. c. Sometimes a company is said to be a leader because it is a consistent and profitable follower. d. Sometimes a company is known for being innovative or quick to improve some other company's ideas.

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Answers (1)

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Alondra Santos · Answer 1

The correct answer is C

Explanation:

Market leader is the company position which have the largest market share or the highest profitability margin in a market for the goods and services. Market share, could be measured or evaluated by either the volume of the goods sold or the goods value.

The one which is not the reason in the mind of Patrick for being recognized as a leader is that the company is consistent as well as the profitable follower.