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The U.S. service sector makes up only one-tenth of the nation’s economy.

Merrill Lynch’s bull logo cannot be considered a part of the product’s trade dress.

Most businesses slowly change the amounts they charge customers, even when they clearly recognize strong demand.

Makers of generic products are dependent on brand loyalty for their marketing success.

Restaurant chains often use the same room decor and dining menu at all their locations in an attempt to standardize the services they offer.

Consumer perceptions of superiority pay off in the firm’s ability to raise prices without losing market share.

An effective label performs both promotional and informational functions.

Lysol sanitizing wipes entered the market at a low sales price and was supported by heavy couponing. As the initial trial period passed, the pricing slowly rose and the couponing became more infrequent. This activity is an example of penetration pricing.

Tide laundry detergent commands an extremely high market share. Purchasers of the product are extremely less sensitive to price changes. Based on this assessment, it can be said that Tide has high brand equity.

The Malcolm Baldrige National Quality Award is the highest national recognition for quality a U.S. company can receive.