The Small List of Brand Names,typically Five or Fewer Names,that

question 52

Multiple Choice

The small list of brand names,typically five or fewer names,that comes to mind when a product or service category is mentioned is known as the       .

• A) intersection set 
• B) product line extension 
• C) evoked set 
• D) brand extension

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Definitions:

Demand Curve Elastic

A characteristic of the demand curve where the quantity demanded by consumers changes significantly as a result of price changes.

Total Revenue

Total revenue is the total amount of money received by a firm from selling its goods or services before any expenses are deducted.

Price Elasticity

A measure of how sensitive the quantity demanded of a good is to a change in its price.

Demand Curve

A graph representing the relationship between the price of a good and the quantity demanded by consumers, typically downward sloping, indicating an inverse relationship between price and quantity demanded.