When Binney and Smith,the Makers of Crayola,began Marketing the Brand

question 219

Multiple Choice

When Binney and Smith,the makers of Crayola,began marketing the brand "Crayola IQ" to the so-called "tweens" group,the company was practising

• A) product differentiation.
• B) mass customization.
• C) industrial marketing.
• D) market segmentation.
• E) customer identification.

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Definitions:

Centrally-Planned Economy

An economic system where all major decisions regarding production, distribution, and consumption are made by the government.

Economic Activity

The total amount of production, distribution, and consumption of goods and services in an economy.

Marginal Cost

The bump in complete expenses that occurs when an additional unit of a product or service is produced.

Heart Rate Monitor

A device that measures and displays the number of heartbeats per unit of time, used to monitor heart activity during exercise or daily activities.