Chapter 2: the External Environment

Question 1

switching costs

Answer 1

fixed costs buyers face if they change suppliers

Question 2

supply chain management

Answer 2

extended enterprise; managing of the entire network of facilities and people that obtain raw materials from outside the organization, transform them into products, and distribute them to customers

Question 3

final consumer

Answer 3

customer who purchases product in finished form

Question 4

intermediate consumer

Answer 4

buy raw materials or wholesale products and then sell to final consumers