FunNoodles Has Added a New Range of Products to Its

question 12

Multiple Choice

FunNoodles has added a new range of products to its Fun Instant Noodles and Fun Rice Noodles range.FunNoodles adopted this approach to stay competitive in the market amidst new brands.FunNoodles's brand and its quality were well-established, and hence the products did not require much education on behalf of consumers.Within a month of launching the new range of products, FunNoodles had sold about half a million units. FunNoodles added a new range of products to its existing one.This is called _____.

• A)harvesting
• B)greenwashing
• C)test marketing
• D)line extension

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Definitions:

Oligopolistic Firms

are companies operating in a market structure characterized by a small number of firms controlling a large market share, leading to limited competition.

Rival Firms

Companies that compete against one another in the same market for consumers or resources.

ATC

Average Total Cost, which is the total cost of production divided by the total quantity produced, indicating the average cost per unit.

Territorial Division

The division or partitioning of land or space into separate areas, often for administrative or legal purposes.