To Prevent Its Competitors from Obtaining Sufficient Supplies to Make

question 20

Multiple Choice

To prevent its competitors from obtaining sufficient supplies to make their products, Molded Plastics, Inc., uses its market power to increase the prices of those supplies (inputs which Molded Plastics also uses) . This is

• A) a refusal to deal.
• B) business acumen.
• C) predatory bidding.
• D) predatory pricing.

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Definitions:

Adoption Process

The sequence of steps a consumer goes through, from first becoming aware of a new product or service to finally making the purchase and using it.

Awareness

The degree of consumer recognition of a product, brand, or company, often influenced by marketing and advertising efforts.

Consumer Adoption Process

The sequence of stages a consumer goes through in embracing a new product or service, from awareness to loyalty.

Trial

A test period during which a product or service is used to assess its functionality or effectiveness before making a full commitment.