The Internationally Accepted Standard Definitions for Terms of Sale Set

question 4

Multiple Choice

The internationally accepted standard definitions for terms of sale set by the International Chamber of Commerce (ICC) which set out the responsibilities of the buyer and the seller in export transactions and identifies when ownership of goods passes from seller to buyer are called:

• A) INCOTERMS
• B) G-TERMS
• C) ICC-TERMS
• D) EX-TERMS
• E) O-TERMS

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Definitions:

Brand Value

The financial premium a brand brings to a product or service, often reflected in customer recognition, preference, and loyalty.

Decrease Depth

In the context of product management, this refers to reducing the variety or number of variations within a product line to streamline operations or focus on more profitable items.

Products

Goods or services offered by businesses to satisfy consumer needs or desires.

Brand Components

The essential elements that make up a brand, including its name, logo, design, and the perceived image it conveys.