If You Are Contemplating a Name for a Product, Even

question 82

Multiple Choice

If you are contemplating a name for a product, even though there is no single procedure that is best for all, the most logical first step would be to:

• A)commission a legal search of registered names.
• B)begin the name-generation process.
• C)meet with senior management to discuss the direction of the company, its value, and image.
• D)do a linguistic analysis to determine whether names will work well in foreign languages.
• E)determine the stylistic components necessary.

---

Definitions:

Total Output

The total amount of goods and services produced within an economy at a given overall price level in a given time period.

Economies of Scale

Cost advantages reaped by companies when production becomes efficient, as the scale of the operation and output increases.

Coordination Problems

Challenges that arise in aligning the plans and actions of multiple parties in order to achieve a common goal or optimize outcomes.

Economic Profit

is the excess of total revenue over the total costs, including both explicit and implicit costs.