Three Major Ways in Which Marketers Engage in Product Differentiation

question 16

Multiple Choice

Three major ways in which marketers engage in product differentiation are

• A) product quality, product design and features, and product support services.
• B) product quality, product support services, and packaging.
• C) product support services, product design and features, and product positioning.
• D) product positioning, product quality, and product management.
• E) product positioning, product design and features, and product promotion.

---

Definitions:

Inventory Costing

The process of assigning costs to inventory items based on the method chosen (e.g., FIFO, LIFO, or weighted average) to accurately value the inventory on the balance sheet and match costs to revenues on the income statement.

Perpetual Inventory

An inventory system that updates the quantity and value of inventory after each transaction or event.

Interim Financial Statements

Financial reports covering a period of less than one year, often used to provide a more immediate view of a company's financial health.

Cost Flow Assumption

Refers to the method used by companies to value and manage inventory; common examples include FIFO (First In, First Out), LIFO (Last In, First Out), and average cost.