Brand Competitors Have

question 43

Multiple Choice

Brand competitors have:

• A)same product but different features, benefits and prices.
• B)similar features, benefits and prices.
• C)different products that solve the same problem.
• D)limited financial resources of same customers.
• E)indirect competitors.

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Definitions:

Operating Expenses

Costs associated with a business’s operations, including rent, utilities, payroll, and materials, but excluding the cost of goods sold.

Discounted Price

The reduced price of a good or service, typically offered for promotions or sales.

Retail Selling Price

The final price at which goods are sold to consumers, including all taxes, markups, and additional costs.

Mark-up

The amount added to the cost price of goods to cover overhead and profit, determining the selling price.