______________ Means Target Customers Will Generally Choose a Particular Brand

question 251

Multiple Choice

______________ means target customers will generally choose a particular brand over other brands-perhaps out of habit or past experience.

• A) Brand nonrecognition
• B) Brand preference
• C) Brand insistence
• D) Brand rejection
• E) Brand recognition

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Definitions:

Marginal Revenue

The additional income earned by selling one more unit of a product or service.

Peak Efficiency

The highest level of operational performance where resources are utilized in the most effective way possible with minimal waste.

Barriers To Entry

Obstacles that make it difficult for new firms to enter a market, such as high initial investment, licensing requirements, and access to technology.

Patents

Legal documents granting an inventor exclusive rights to their invention, preventing others from making, using, or selling the invention for a certain period of time.