BUSINESS ADMINISTRATION
MARKETING MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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escalator clauses
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unbundling
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unitary pricing
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demand pricing
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Detailed explanation-1: -The company under this plan maintains its price but removes or prices separately one or more elements that were part of the former offer, such as free delivery or installation.
Detailed explanation-2: -A Dutch auction (also called a descending price auction) refers to a type of auction in which an auctioneer starts with a very high price, incrementally lowering the price until someone places a bid.
Detailed explanation-3: -Bidding for government contracts is an example of reverse auctions. In this type of auction, governments specify requirements for the project and bidders, who are approved contractors, come up with a cost structure to finish the project.
Detailed explanation-4: -The bidders lift up their bidder card to announce their bid price so the auctioneer can identify who is making the bid. The process ends when there are no more bids, and the buyer making the highest bid gets the item. The highest bidder takes ownership of the item immediately after paying their bid price.
Detailed explanation-5: -Examples of auctions include livestock markets where farmers buy and sell animals, car auctions, or an auction room at Sotheby’s or Christie’s where collectors bid on works of art. Leading online marketplace eBay is a host of online auctions.