Practicing Success

Target Exam

CUET

Subject

Business Studies

Chapter

Business Environment

Question:

A case study is given below. Based on this case study, answer the following question.
The name and taste of Coca-Cola is known to almost each and every individual in India as well as throughout the world. This carbonated soft drink holds the most market share in the soft drink market and got itself a special seat in each and every gathering. The Coca-Cola Company has on occasion introduced other cola drinks under the Coke name. The most common of these are Diet Coke, along with others including Caffeine free Coca-Cola, Diet Coke Caffeine free, Coca-Cola Zero Sugar, Coca Cola Cherry, Coca-Cola Vanilla and the list goes on. It has capitalized on each and every opportunity to market itself effectively and place itself in the middle of every gathering. The main reason for such an outstanding placement of product goes to the way they have established the connection between every occasion and the need for Coke to be present there, product design and creative advertising.

In the context of the above given case, identify one valid importance of Business Environment.

Options:

Enables a firm to identify opportunities and getting first mover advantage .

It results in an environment of Uncertainty

Results in delay in action

It makes planning very difficult.

Correct Answer:

Enables a firm to identify opportunities and getting first mover advantage .

Explanation:

The case highlights how Coca-Cola has capitalized on opportunities through effective marketing, product design, and creative advertising, demonstrating the significance of identifying and seizing opportunities in the business environment. So, correct answer is enabling a firm to identify opportunities and getting first mover advantage.