Driving Time, Proximity, and Hours of Operation for Stores, and the Usability

question 252

Multiple Choice

Driving time, proximity, and hours of operation for stores, and the usability of a website are all examples of which buyer requirement?

• A) information
• B) variety
• C) pre- or postsale services
• D) adaptability
• E) convenience

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Definitions:

Non-price Competition

A market strategy in which a company tries to distinguish its product or service from competing products on the basis of attributes like design and workmanship instead of lowering prices.

Monopolistically Competitive Firm

A company that operates in a market with many competitors that sell products or services which are not perfect substitutes, allowing for some degree of market power.

Entrance

refers to the act or point of entering, which can be physical, such as entering a building, or metaphorical, such as entering a market.

Reducing Profits

Actions or factors that decrease the earnings or profitability of a business.