19. Lead time is: A. the time from production to market delivery B. the time in

Question

19. Lead time is: A. the time from production to market delivery B. the time in which the first mover operates in the market under conditions of limited competition C. the time it takes for an entrepreneur to go from the concept stage to the delivery stage D. the time between product introduction and customer acceptance 20. Frequent flier miles would be an example of which barrier to entry? A. Building customer loyalties B. Securing access to supply of key resources C. Creating product uniqueness D. Building in switching costs

Explanation / Answer

Lead time is A. the time from production to the market delivery.

The time taken to deliver a product from the moment the ordered is placed is called lead time.

Frequent flier miles would be an example of barrier to entry D. Building in switching costs

Fliers tend to stick onto airlines with whom they have frequent flier memebership because they feel switching onto another airline would result in the loss of accumulated miles.

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