Maribeth Has Been Assigned the Task of Identifying Her Company's

question 120

Multiple Choice

Maribeth has been assigned the task of identifying her company's competitor positions in the snack chip market and she also needs to determine consumer preferences for low-carb snack chips. What tool should Maribeth use to accomplish this task?

• A)VALS framework
• B)mass marketing
• C)salient attributes
• D)perceptual map
• E)micromarketing

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Definitions:

Normal Profits

The level of profit that is necessary for a company to remain competitive in the market, often seen as the minimum acceptable return.

Short Run

Refers to a period in economics where certain inputs or resources are fixed and cannot be changed, contrasting with the long run where all factors are variable.

Long Run

A period in which all factors of production and costs are variable, allowing for adjustment to changes in the market or economy.

Economic Profit

A calculation of profitability that takes into account both the direct costs and opportunity costs of pursuing a particular course of action.