Customers were not willing to buy the product for increase

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Reference no: EM132174520

1. Which of the following is true of product differentiation?

It is a matter of customer thought and perception.

It cannot occur when two companies use similar technologies.

It does not typically require higher costs.

It is independent of intangible features such as brand image and value.

2. DFN Inc. expanded its manufacturing plant to employ more equipment because the management of the company thought this would help them attain more sales. Unfortunately, this affected the cost of each unit produced because the company invested more finances for better equipment. This also led to a decrease in sales as customers were not willing to buy the product for an increased price. This scenario best illustrates _____.

competitive failure

diseconomies of scale

economies of scale

virtuous circle

3. Gear-up Inc., an apparel brand, differentiates its products by manufacturing jeans that last longer than those of other brands. The fabric is durable and does not wear out even after years of regular use. This attracts customers despite Gear-up’s high prices. Which of the following elements of product differentiation is Gear-up primarily providing?

Aesthetics

Quality

Convenience

Quantity

Reference no: EM132174520

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