Which of the following best describes the concept of "economies of scale"?

A. A declaration of the company's core purpose and focus

B. A financial forecast for the next fiscal year

C. A detailed plan for marketing activities

D. A list of products and services offered

A. Age

B. Lifestyle

C. Purchase frequency

D. Income

A. Increase production efficiency

B. Identify and target specific customer groups

C. Reduce marketing costs

D. Expand into new markets

A. Expanding product lines

B. Reducing workforce and closing unprofitable operations

C. Entering new markets

D. Increasing marketing expenditure

A. The physical assets owned by a brand

B. The market share held by a brand

C. The loyalty and perceptions associated with a brand

D. The financial performance of a brand

A. Higher production costs

B. Limited reach

C. Greater ability to measure results

D. Less engagement with customers

A. Rapidly increasing sales

B. High levels of competition and market saturation

C. Introduction of new products

D. Declining market share