Marketers Respond to Charges of Planned Obsolescence with the Following

question 150

Multiple Choice

Marketers respond to charges of planned obsolescence with the following.

• A)Consumers lead change and innovation.
• B)The product sells itself.
• C)The product will eventually wear out anyway.
• D)For most technical products, customers want the latest innovations, even if the older model still works.
• E)Companies do not want to lose their brands.

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Definitions:

Natural Monopoly

A market condition in which a single firm can provide a product or service at a lower cost than any potential competitors, often due to economies of scale.

Economies of Scale

Cost advantages reaped by companies when production becomes efficient, as the scale of the operation increases.

Exclusive Franchise

A business arrangement granting a single entity the right to market a company's goods or services within a specified territory.