An Entrepreneur with a Strong Background in Sales but Weak

question 111

True/False

An entrepreneur with a strong background in sales but weak in marketing will most likely focus on marketing to compensate for his or her lack of knowledge in the area.

---

Definitions:

Substitution Effect

Refers to consumers’ ability to substitute other products for the focal brand, thus increasing the price elasticity of demand for the focal brand.

Cross-Price Elasticity

A measure of how the demand for one product changes in response to a price change of another product.

Toothpaste

A gel or paste used with a toothbrush to clean and maintain the aesthetics and health of teeth, often containing fluoride to prevent dental cavities.

Complementary Product

A product that adds value to another product when used together, enhancing the overall user experience.