Which of the Following Is a Marketing Advantage of Strong

question 61

Multiple Choice

Which of the following is a marketing advantage of strong brands?

• A) no vulnerability to marketing crises
• B) more elastic consumer response to price increases
• C) guaranteed profits
• D) additional brand extension opportunities
• E) more inelastic consumer response to price decreases

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Definitions:

Marginal Utility

The extra pleasure or benefit gained from consuming an additional unit of a product or service.

Total Utility

The total satisfaction received from consuming a certain amount of a good or service.

Diamond/Water Paradox

A paradox highlighting the contradiction where water, essential for survival, is inexpensive, while diamonds, with little intrinsic utility, are expensive.

Marginal Value

The additional value or benefit derived from consuming or producing one more unit of a good or service.