A Product Line Is a Group of Product or Service

question 320

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 used together,are sold to the same customer group,and are distributed through the same type of outlets,or __________.

• A)are made of similar components
• B)fall within a given price range
• C)made from the same formulations
• D)are identical except for price
• E)require high levels of R&D

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Definitions:

Return

The gain or loss on an investment over a specific period, typically expressed as a percentage of the investment's initial cost.

Annuity

An annuity is a financial product that pays out a fixed stream of payments to an individual, primarily used as an income stream for retirees.

Income

Money received, especially on a regular basis, for work or through investments.

Going Rate

Refers to the current average cost or pricing point for goods, services, or wages in a particular market or industry.