Final answer:
A small number of 650 brands retained market leadership from 1923 to 1997, illustrating the competitive and changing market conditions.
Step-by-step explanation:
According to Peter Golder's market leadership study, only a very small number of the 650 brands studied in 1923 managed to retain their market leadership through to 1997. This signifies the dynamic and competitive nature of markets over time.
Market leadership can be influenced by various factors including disruptive market changes, globalization, and shifts in consumer preferences. Moreover, studies examining corporate CEOs ages in top-ranking firms provide insight into the demographics at the helm of successful businesses.
The question is asking about Peter Golder's market leadership study, which analyzed 650 brands from 1923 through 1997. According to the study, only 132 out of the 650 brands retained market leadership during that time period.