New Coke was repositioned as a slightly sweeter, less filling soft drink because the Coca-Cola Company discovered that its 1984 market share in supermarkets was 2 percent behind Pepsi. This product repositioning strategy was designed to ________.
A. catch a rising trend
B. react to a competitor's position
C. reach a new market
D. change the value offered
E. change its target audience
Answer: B
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Warren, Inc purchased a $400,000 life insurance policy on the company president on January 1, 2017. The premium that was paid on January 1 amounted to $11,600. In the first year, cash surrender value increased by $900 and dividends received by Warren from the insurance company for the year amounted to $300. What was Warren's insurance expense for 2017?
A) $10,400 B) $11,000 C) $12,500 D) $12,800
A sporting goods dealer is a merchant with respect to golf clubs but not if he sells a wheelbarrow
to a neighbor. Indicate whether the statement is true or false
A photocopier cost $102,000 when new and has accumulated depreciation of $90,000. If the business discards this plant asset, the result is ________
A) a loss of $12,000 B) a loss of $11,250 C) a gain of $12,000 D) no gain or no loss
Which of the following is a period cost?
A. Factory foreman salary for the motor production line. B. Indirect labor. C. Direct material. D. Miscellaneous supplies used in production activities. E. Advertising expense.