DeFeet International DeFeet International Started as a Cyclist Sock Company. the Founder

question 77

Multiple Choice

DeFeet International
DeFeet International started as a cyclist sock company. The founder, Shane Cooper, said that the existing socks for cyclists were just not of great quality so he made socks for his cycling team by knitting them inside out. The socks were of special materials aimed at giving the cyclist the most comfortable fit. These socks were not the traditional white socks but bright, bold, and flashy colored socks with cool graphics. These high tech socks were priced around $10 a pair. Their web site says "DeFeet is Made for Driven Soles." Soon cycling elites like Lance Armstrong and Greg LeMond were sporting the DeFeet brand. The company branched into running, hiking and snow gear. Their products include socks, armskins, calfskins, boxer briefs, gloves, and shirts for the serious athlete. They also have a custom department where socks, armskins, and gloves can be customized with any motif including sponsor types of logos like Michelin, Pabst Blue Ribbon, or BP. Even kids can enjoy DeFeet's high quality socks. DeFeet's products can be found in retailers across the world, in more than twenty countries, like Israel, Australia, Belgium and the United States. More than two-dozen online retailers also carry their products.
-Refer to DeFeet.DeFeet's _____ is high-tech apparel,the packaging it comes in,the brand name,company image and value.

• A) product
• B) place
• C) price
• D) promotion
• E) position

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Definitions:

Maximize Profits

The goal of firms to achieve the highest possible profit by adjusting production and pricing strategies.

Marginal Product Data

Information related to the additional output generated by employing one more unit of a particular input.

Profit-Maximizing

The process or strategy of adjusting output to achieve the highest possible profit, taking into account revenue and costs.

Competitive Market

is a market structure characterized by numerous buyers and sellers, free entry and exit, and products that are close substitutes, leading to price competition.