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 2
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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