When Pepsi introduced Mountain Dew Code Red, it was:
A) expanding its marketing mix.
B) increasing the product line.
C) simplifying its product mix.
D) narrowing its marketing mix.
E) refining its marketing mix.
Question 2 - Which of the following is one of the four key considerations when choosing business ownership structure?
A) Number of suppliers
B) Whether you own patents
C) State where business operates
D) Taxation and division of profits
E) Return on investment in your industry
Question 3 - Grouping product offerings into product lines provides manufacturers with three primary benefits:
A) convenience for consumers, brand clarity, and market share.
B) clarity for consumers, more effective product management, and simplified branding.
C) convenience for consumers, better branding, and market share.
D) brand complexity, simplified management, and consumer convenience.
E) consumer convenience, market share, and brand complexity.
Question 4 - Edward would like a form of business that is a separate legal entity, with most of the legal rights of a real person. He should form a:
A) sole proprietorship.
B) partnership.
C) corporation.
D) joint venture.
E) licensing agreement.
Question 5 - As a result of extensive market research, a consumer products manufacturer introduces a line of hypoallergenic, fragrance-free, and dye-free laundry products for customers with allergies and skin sensitivities. Which of the following best summarizes the reason for the company's product mix change?
A) Challenges from competitors
B) Simplification of its product mix
C) Changes in customer preferences
D) Stage of product life cycle
E) More effective brand management
Question 6 - Sharon Harris and David Mueller are dermatologists who have created a skin care line to help with blemishes and wrinkles. They'd like to go into business selling their products. Sharon likes the idea of _________, which combines the benefits of a corporation and a partnership while avoiding some of the disadvantages.
A) an entrepreneurship
B) a joint venture
C) an S corp
D) an LLC
E) a sole proprietorship
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