If a society is collectivist, it would imply that the self-worth of the people is rooted in individual achievements.

Smaller packaging and lower sales prices are often critical in markets where incomes are limited.

Price discrimination in all forms is illegal in the United States.

The “customer is king” category of buyer-seller relationship is relatively simple, and one in which routine exchanges with moderately high levels of cooperation and information exchange occur.

Selective retention works to the advantage of strong brands.

When the licensor provides the licensee with a complete brand concept and operating system, the arrangement is called contract manufacturing.

A good illustration of a member of the institutional market would be Boeing because it is a member of the aviation institution structure.

“Toughies” are old school buyers who pit sellers against one another.

In first-degree price discrimination, the seller charges less to buyers who purchase in larger volumes.

Brand associations  consist of all brand-related thoughts, feelings, perceptions, images, experiences, beliefs, attitudes, and so on that become linked to the brand node.