The Width of a Product Mix Refers to The

question 88

Multiple Choice

 The width of a product mix refers to the: 

• A) number of product lines handled by the organization.
• B) maximum number of products in each line.
• C) total number of products in each line marketed through personal selling.
• D) market share of the organization in the industry.

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Definitions:

Price-Discriminating Monopolist

A monopolist that charges different prices to different consumers or groups of consumers for the same product, to maximize profits.

Price Elasticity

The responsiveness of the quantity of a product demanded to a variation in its price, determined by dividing the percentage variation in the quantity demanded by the percentage modification in the product’s price.

Separate Markets

Economic markets that are distinctly separated by geographical boundaries, preferences, or other factors, preventing the mixing of products or services.

Resold

The action of selling an item or asset that has previously been sold or owned by someone else.