The Future,3M Will Make Use of __________ to Attract New

question 50

Multiple Choice

the future,3M will make use of __________ to attract new customers.

• A) product extensions
• B) social responsibility
• C) social entrepreneurship
• D) graduate students to design new products
• E) cause marketing by "going green"

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Definitions:

Economies of Scope

Cost advantages that result from a company offering a range of products rather than specializing in just one.

By-product Synergy

The practice of finding valuable uses for waste or by-products generated during the manufacturing process, thereby reducing waste and potentially increasing efficiency and profitability.

Horizontal Brand Extension

A strategy where a brand introduces new products in the same product category.

Particle Board

An engineered wood product made from wood chips, sawmill shavings, or even sawdust, and a synthetic resin or other suitable binder, which is pressed and extruded.