Which of the Following Is True of a Specialty Product

question 18

Multiple Choice

Which of the following is true of a specialty product?

• A)It is widely distributed in a geographic area in order to sell sufficient quantities to meet profit goals.
• B)It is marketed using selective,status-conscious advertising that maintains its exclusive image.
• C)It is bought only after comparing several brands or stores on style,practicality,price,and lifestyle compatibility.
• D)It is sold using aggressive personal selling as consumers do not seek out this type of product.

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Definitions:

Balance Sheet

An economic report that presents the value of a corporation’s assets, liabilities, and equity held by shareholders on a given date.

Periodic Inventory Method

An inventory accounting system where updates to the inventory accounts are made on a periodic basis, typically at the end of an accounting period.

Financial Statement(s)

Reports that summarize the financial performance and position of a business or entity.

Cost of Goods Sold

Direct expenses involved in the fabrication of goods a company markets, including costs for materials and labor.