Which of the following is true with regard to how a new product is defined?
A. A product should be considered "new" if it is new in any way for the company concerned.
B. The FTC would not call an existing product new, even if it were changed in a functionally significant way.
C. A new product must be totally different before it can be called a "new product."
D. There is no legal limit on how long a product can be called "new."
E. All these answers are correct.
Answer: A
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Companies need service and product cost information for both financial reporting and managerial accounting.
Answer the following statement true (T) or false (F)
While consumers favor green marketing and environmentally-safe products, most consumers are not willing to:
A) purchase green and environmentally-safe products because of higher prices B) support companies that are not pro-environment C) sacrifice price, quality, convenience, availability, or performance D) take time to decide which causes to support
In markets where customers are sensitive to price and where internal efficiencies lead to cost advantages allowing for acceptable margins even with aggressive pricing, a ________ strategy can create a powerful barrier to market entry for other firms.
A. penetration pricing B. target ROI C. price skimming D. competitor-based pricing E. value pricing
Profit margin measures the income earned on each dollar of sales, and is calculated by dividing net income by net sales.
Answer the following statement true (T) or false (F)