All Entrepreneurs Face the Need for Brand Building, Which Is

question 54

Multiple Choice

All entrepreneurs face the need for brand building, which is ___.

• A) the task of building brand awareness.
• B) the task of building brand equity.
• C) the dual task of building brand awareness and building brand equity.
• D) building either brand awareness, or brand equity.
• E) the task of building other issues.

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Definitions:

Variable Costs

Expenses that change in proportion to the amount of goods produced or sold, like labor and material costs.

Contribution Margin

The amount remaining from sales revenue after variable expenses have been deducted, indicating how much revenue is available to cover fixed costs and generate profit.

Variable Costs

These are expenses that vary directly with the level of production or sales volume; they rise as production increases and fall as production decreases.

Contribution Margin Ratio

The percentage of sales revenue that remains after deducting variable costs, used to cover fixed costs and generate profit.