Match the Term with Its Definition

question 88

Essay

Match the term with its definition.
a.Channel of distribution
b.Copyright
c.Patent
d.Product
e.Product item
f.Product life cycle
g.Product line
h.Product mix
i.Product mix consistency
j.Product strategy
k.Sustainable competitive advantage
l.Warranty
-A total bundle of satisfaction offered to consumers in an exchange transaction

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Definitions:

Price Elastic

Refers to a situation where the demand or supply for a product or service significantly changes in response to its price change.

Soft Drinks

Non-alcoholic beverages that are usually carbonated and contain various flavorings and sweeteners.

Price Elasticity

A measure of the responsiveness of the quantity demanded or supplied of a good or service to a change in its price.

Total Revenue

The total income received by a company from its sales of goods or services, calculated without deducting any costs or expenses.