Refer to the Accompanying Figure to Answer the Following Questions

question 52

Multiple Choice

Refer to the accompanying figure to answer the following questions.

-When the price changes from $50 to $30,the price effect leads to a loss of ________ in revenue.

• A) $20
• B) $15
• C) $900
• D) $600
• E) $450

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Definitions:

Competitors

Entities that compete within the same market, offering similar products or services to the same target audience.

Firm Capabilities

The unique abilities and resources a company possesses that enable it to achieve competitive advantage and perform effectively in the market.

Brand Identity

The collection of all elements that a company creates to portray the right image to its consumer, including visuals, messaging, and values that differentiate it from competitors.

Positioning

The strategic process of establishing a distinct brand identity and value proposition in the market and in the minds of consumers.