Sophia2 __ Welcome.pdf - Score 20\/23 You passed this Milestone 20 questions were answered correctly 3 questions were answered incorrectly 1 UNIT 2 \u2014

Sophia2 __ Welcome.pdf - Score 20/23 You passed this...

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UNIT 2 — MILESTONE 2 Score 20/23 You passed this Milestone 20 questions were answered correctly . 3 questions were answered incorrectly . 1 An appliance maker determined many of their competitors were leading the market for one of their products. The company had experienced a continuous loss in sales over the past year. Which of the following phases of the product lifecycle does this illustrate? Decline Maturity Introduction Growth CONCEPT Product Life Cycle 2 A company selling a new product would consider using a skimming pricing strategy for which of the following reasons? To generate consumer interest in the product To cover high marketing costs for a new product To be competitive with companies selling similar products To develop brand loyalty with its current market CONCEPT Price 3
An office supply company created a new office organization product. Its customers have very little knowledge about the product, and the company is willing to modify the product to adjust to the market. Which phase of the product lifecycle below does the scenario describe? Maturity Growth Introduction Decline CONCEPT Product Life Cycle 4 A company legally protected its name, logo and symbols to ensure none of these elements could be copied. Which of the following does this scenario describe? Packaging Trademark Branding Brand collateral CONCEPT Basics of Branding 5 Which of the following is a disadvantage to using an intermediary? Can increase distribution capabilities Can provide convenience for the consumer Can provide expertise a business may lack Can increase the cost of a product or service
CONCEPT Place 6 A company created a line of cleaning products that uses natural ingredients instead of harsh synthetic chemicals.

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