Question: QUESTION 5 By 2 0 1 7 , Pepsi and Coke were attempting to increase their profits in the bottled water market by introducing premium

QUESTION

5

2017,

Pepsi and Coke were attempting to increase their profits in the bottled water market by introducing premium water brands. Pepsi and Coke introduced LIFEWTR and Smartwater, respectively, while competitors like Nestle and Danone produced their own versions of premium water. The premium water brands marketed to compete with LIFEWTR and Smartwater would be considered

inferior goods compared to LIFEWTR and Smartwater.

normal goods compared to LIFEWTR and Smartwater.

substitutes for LIFEWTR and Smartwater.

complements to LIFEWTR and Smartwater.

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