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. 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. Declining sales

B. High levels of competition

C. Slow market expansion

D. Increasing customer base

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. Introduce new products to existing markets

B. Expand into new markets with existing products

C. Enhance product features for current customers

D. Reduce production costs