BUISENESS MANAGEMENT
MARKETING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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A higher price often indicates higher quality to many customers.
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It’s the only way to make a profit with competition-oriented pricing.
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Higher prices usually lead to creating greater demand for a product.
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It’s the only way to increase market share, especially for new products.
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Detailed explanation-1: -What is the main reason why generic products can be sold at a reduced price? Less money is spent to promote them. What is the difference between a customer and a consumer? A customer buys products, while a consumer uses products.
Detailed explanation-2: -A distribution channel, in simple terms, is the flow that a good or service follows from production or manufacturing to the final consumer/buyer. Distribution channels vary but typically include a producer, a wholesaler, a retailer, and the end buyer/consumer.
Detailed explanation-3: -Product mix, also known as product assortment or product portfolio, refers to the complete set of products and/or services offered by a firm.
Detailed explanation-4: -The maturity stage is when the sales begin to level off from the rapid growth period. At this point, companies begin to reduce their prices so they can stay competitive amongst the growing competition.