Customers Come to Know a Brand Through a Wide Range

question 95

True/False

Customers come to know a brand through a wide range of contacts and touch points,including word of mouth,personal interactions with company people,telephone interactions,and company webpages.

---

Definitions:

Diminishing Marginal Returns

A principle that states as additional units of a variable input are added to fixed inputs, the additional output produced from each new unit eventually decreases.

Variable Resources

Inputs that change in quantity with levels of production, such as raw materials and labor.

Variable Cost

Costs that change in proportion to the level of goods or services that a business produces.

ATC

Average Total Cost, which is the sum of all production costs divided by the quantity of output produced.