One of the Reasons Why Companies Create the Position of Brand

question 72

Multiple Choice

One of the reasons why companies create the position of brand manager is to

• A) have greater control over new-product development and promotion.
• B) cut expenses associated with the marketing of products.
• C) limit the amount of market research expenses products require.
• D) identify and prosecute firms that violate trademark protection.

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Definitions:

Wage Rate

The amount of compensation a worker receives per unit of time or output.

Labor Demand Curve

A graphical representation that shows the relationship between the quantity of labor demanded by firms and the wage rate.

Competitive Market

A market structure characterized by a large number of buyers and sellers, free entry and exit, and a homogeneous product.

Marginal Product

The extra output generated from adding a single unit of a specific input, with all other inputs remaining unchanged.