Lean Service Is Based Upon the Toyota Production System

question 10

True/False

Lean service is based upon the Toyota Production System.

Understand the nature of entrepreneurship and its impact on society and the economy.

Recognize the role of innovation and creativity in entrepreneurship.

Identify the characteristics of successful entrepreneurs and entrepreneurial educators.

Understand the importance of a long-term perspective and adaptability in entrepreneurship.

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Definitions:

Brand Awareness

How well consumers know and perceive the specific characteristics or brand image of a certain type of merchandise or service.

Brand Dilution

The weakening of a brand's power or value due to overextension, mismanagement, or negative associations, resulting in diminished brand equity.

Brand Extension

A strategy where a firm uses an existing brand name to introduce a new product or service category to the market.

Line Extension

A marketing strategy where a company introduces additional items in the same product category under the same brand name, such as new flavors, forms, colors, added ingredients, or package sizes.