The Term Product Class Refers to

question 155

Multiple Choice

The term product class refers to

• A)the NAICS designation of an individual product or brand.
• B)the designation of an individual product based upon its form.
• C)a variation of a product within a product mix.
• D)the designation of a product based on whether it is a consumer product or business product.
• E)the industry a set of offerings belongs to.

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Definitions:

Divest

To sell off assets, investments, or divisions of a company as a strategic move to focus on core operations or for other financial reasons.

Functional Level

The operational layer in an organization where specific, routine tasks are carried out, often correlating with departments like sales or HR.

Specialists

Experts or professionals with a deep understanding and knowledge in a specific field or area, often hired to address particular challenges within a business.

Strategic Planners

Professionals responsible for developing and implementing long-term goals and strategies to ensure a company's growth and success.