Borden, Inc, offers pasta, snacks, grocery, and dairy items as well as films, adhesives, and other nonfood products. These products are referred to as Borden's:
A) product mix.
B) product line.
C) product differentiation.
D) product life cycle.
E) inventory mix.
Question 2 - Charlene and Phil would like a form of business that combines the benefits of a corporation and a partnership while avoiding some of the restrictions associated with those forms of ownership. They should form a(n):
A) partnership.
B) syndicate.
C) conglomerate.
D) joint venture.
E) LLC.
Question 3 - In 2008 KFC, famous for fried chicken, introduced grilled chicken in an effort to offer healthier menu options. This product mix change can be attributed to:
A) more effective brand management.
B) the stage of the product life cycle.
C) simplifying the product mix.
D) challenges from competitors.
E) changes in customer preferences.
Question 4 - A voluntary association of two or more people acting as co-owners of a business is known as a:
A) partnership.
B) corporation.
C) sole proprietorship.
D) conglomerate.
E) syndicate.
Question 5 - When Nabisco realized that their Ritz cracker brand was experiencing stagnant sales and profits, it began to offer serving suggestions and recipes featuring the cracker on its packaging. This marketing mix change is in response to:
A) the stage of the product life cycle.
B) changes in customer preferences.
C) simplifying the product mix.
D) increased brand management.
E) challenges from competitors.
Question 6 - Which form of business is the easiest to start?
A) Corporation
B) Partnership
C) Entrepreneurship
D) Sole proprietorship
E) S corporation
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