Lego Inc, a Manufacturer of Computers, Has Developed a Brand Image

question 88

Multiple Choice

Lego Inc., a manufacturer of computers, has developed a brand image by delivering high-quality products at affordable prices.This image results in customers choosing Lego's products over competing products.In this case, which of the following refers to Lego's strategy of creating a distinct and desirable understanding in the minds of consumers of what its product represents?

• A)Locational excellence
• B)Market segmentation
• C)Target marketing
• D)Market positioning
• E)Downsizing

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Definitions:

Perfect Competitor

A theoretical market structure where numerous small firms produce identical products, allowing no single firm to affect the market price.

Long Run

In economics, this term describes a period in which all factors of production and costs are variable, allowing full adjustment to any change.

Total Profit

The financial gain made after subtracting all expenses from total revenue.

Profit-Maximizing

A strategy or process employed by businesses to determine the price and output level that returns the highest profit.