The Maker of Hanes Pantyhose Attempts to Set Its Product

question 33

Multiple Choice

The maker of Hanes pantyhose attempts to set its product apart from the competition. As a result, the company obtained limited control over the price of its product. Achieving price control in this manner is known as

• A) advertising.
• B) distributional efficiency.
• C) low-cost production.
• D) niche marketing.
• E) product differentiation.

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Definitions:

Primary Mission

The fundamental purpose or goal that an organization or project is established to achieve.

Diplomacy

The conduct by government officials of negotiations and other relations between nations, often involving the exchange of ambassadors and the use of peaceful negotiations.

Private Sector

The part of the economy that is run by individuals and companies for profit, as opposed to the public sector, which is managed by the government.

Regulatory Agency

A government body responsible for directing and enforcing specific regulations to ensure that standards and laws are followed within specific industries or sectors.