costs we pay for when purchasing products and services. Review the "EYE on YOUR LIFE" caption titled "Some Selling Costs You Pay" on page 448 in the textbook. When you buy a new pair of Nike running shoes you're paying costs ranging from the raw materials, production costs, import duty, and selling costs. Almost everything you buy includes a selling cost component which exceeds one-half of the total costs. Your clothing, food, DVD's, and your textbook for this course cost more to sell than they cost to produce. Post your discussion describing how firms differentiate their product designing and developing features, and marketing and advertising strategies to ensure buyers value the differences in their products from those of their competitors' products.
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