Most Managers Fail to Grasp That There Is a Strong

question 64

Multiple Choice

Most managers fail to grasp that there is a strong correlation between price and

• A) product innovation.
• B) product distribution.
• C) brand equity.
• D) brand image.
• E) marketing strategy.

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Definitions:

Economies Of Scale

Financial benefits that firms receive from their size of operations, where the cost for every produced unit tends to drop as the operational scale expands.

Low-cost Inputs

Inputs are materials or resources used in the production process, and low-cost inputs refer to acquiring these materials or resources at the lowest possible cost to maximize profitability.

Differentiation Strategy

A business approach focusing on developing and marketing unique products or services to stand out from competitors and attract a specific segment of the market.

Creative Ideas

Novel and innovative thoughts or concepts, especially ones that can be implemented to solve a problem or improve a situation.