A Product Line Is a Group of Product or Service

question 100

Multiple Choice

A product line is a group of product or service items that are closely related because they satisfy a class of needs,__________,are sold to the same customer group,are distributed through the same type of outlets,or fall within a given price range.

• A)are made of similar components
• B)are used together
• C)have one SKU number
• D)require high levels of R&D
• E)made from the same formulations

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Definitions:

Venture Capitalism

A form of private equity financing that investors provide to startup companies and small businesses believed to have long-term growth potential.

Spin-Off

A type of corporate restructuring where a division or subsidiary becomes an independent company.

Consignment

An arrangement in which goods are left in the possession of another party to sell, with payment to the original owner occurring only after the sale.

Wharfage

A fee charged for the use of a wharf for loading or unloading cargo, or for the temporary storage of goods on the wharf area.