Which of the Following Statements Is True of an Organization's

question 48

Multiple Choice

Which of the following statements is true of an organization's product mix?

• A) Firms widen their product mix to capitalize on established reputations.
• B) A wide product mix decreases sales and profit-making potential.
• C) A wide product mix means that the product line is deep.
• D) All product items in a product mix follow a standard marketing strategy.

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Definitions:

Warranties

Legally binding guarantees provided by a seller to a buyer, assuring that a product or service meets certain quality and performance standards.

Limitation

A legal restriction or time frame within which certain actions must be taken, such as filing lawsuits or making claims, to remain valid or enforceable.

Directly Liable

Refers to the legal responsibility that falls directly on an individual or entity due to their actions or omissions.

Tort Case

A legal case involving a civil wrong that causes harm or loss, leading to legal liability for the person who commits the tortious act.