An Effective Marketing Advantage Can Occur When the Consumer Is

question 9

True/False

An effective marketing advantage can occur when the consumer is convinced of the uniqueness and desirability of the product or service-real or perceived.

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Definitions:

Price-Inelastic

Describes a situation where the demand for a good or service is relatively unchanged despite changes in its price.

Supply Curve

A graph showing the relationship between the price of a good and the quantity of the good that producers are willing and able to sell, usually upward sloping.

Budget Proportion

The allocation of financial resources among various categories or items in a budget.

Necessity

A good or service that is essential for living and is deemed indispensable.