Markets, Efficiency & The Public Interest Mcqs
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Q. _________ are products bought by individuals and organizations for further processing or for use in conducting a business? a. Consumer products b. Services c. Industrial products d. Specialty products
Which markets buy goods and services for further processing?Buying goods and services for further processing or for use in the production process refers to Business markets.
Is a consumer product that the customer in the process of selecting and purchasing?Answer and Explanation: A consumer product that the customer, in the process of selecting and purchasing, usually compares on such attributes as suitability, quality, price, and style, is called a shopping product.
What is the practice of using the established brand names of two different companies on the same product?Co-Branding
The use of two or more brand names in support of a new product, service or venture. Co-branding is a strategy that couples the strengths, awareness and customers of one brand with another in order to increase brand equity, target specific markets and/or combine brand values in the mind of the consumer.
Which term means that services Cannot be stored for later sale or use?Services are perishable, which means that services can not be stored for later sale or use.
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Bought by individuals and organizations for further processing or for use in conducting a business.
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