When Smith & Wesson Puts Its Name on Others' Products

question 68

Multiple Choice

When Smith & Wesson puts its name on others' products like men's cologne, it is using which marketing strategy?

• A)demand pricing
• B)brand pricing
• C)line extension
• D)penetration extension
• E)demand extension

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Definitions:

Productivity

The measure of how efficiently inputs, such as labor and capital, are converted into outputs, such as goods and services.

Market Wage

The prevailing wage rate in the labor market for a given type of work, determined by supply and demand for labor.

Labor Supply

The total hours that workers are willing and able to work at a given wage rate, within a specific economy or market.

Maximize Profits

The process of increasing the difference between total revenue and total cost to the highest possible level.