The overall challenge for marketers when developing packaging is to
A. make it as attractive as possible to the target market of the product.
B. create effective, convenient packaging that appeals to customers and keeps costs low.
C. find ways to reduce costs as much as possible for packaging without letting safety suffer.
D. always be more innovative than the competitors in order to make a product stand out.
E. ensure that product damage is minimized during distribution.
Answer: B
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The dimensions of competitive position are differentiation position, cost position, and marketing position
Indicate whether the statement is true or false
Pricing based on supply and demand is not a part of dynamic pricing
Indicate whether the statement is true or false
Porter suggests adopting only __________ of the three generic strategies.
Fill in the blank(s) with the appropriate word(s).
Yellville Regional Hospital is a small hospital with two service departments and three revenue areas:Service DepartmentDirect Costs Square Feet Laundry Pounds Housekeeping (HK)$80,000 - 16,000 Laundry$132,000 500 Revenue Areas: Surgery$400,000 1,500 48,000 Semiprivate rooms$200,000 2,000 24,000 Maternity$150,000 1,000 12,000 The hospital wants to allocate the service department costs to the revenue areas. Housekeeping is allocated based on square footage; Laundry is allocated based on pounds of laundry. The normal capacity for Surgery is 200 hours per month; normal capacity for semiprivate rooms is 600 patient days; and normal capacity for maternity is 200 patient days.Required:Determine the overhead rate for the three revenue areas. Allocate the service
department costs to the revenue areas using the direct method. What will be an ideal response?