A Grocery Store Put Salt on Sale but Found That

question 107

Multiple Choice

A grocery store put salt on sale but found that total revenues fell.This can be explained by which of the following?

• A)The demand for salt is very elastic.
• B)The demand curve for salt is vertical.
• C)The demand for salt is inelastic.

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Definitions:

Promotion

Marketing strategies aimed at increasing the visibility, sales, and market share of a product or service.

Nonpersonal Selling

Consists of advertising, sales promotion, direct marketing, and public relations.

Advertising

Paid nonpersonal communication usually targeted at large numbers of potential buyers.

Direct Mail

A marketing strategy involving the sending of advertisements or promotional materials directly to potential customers via postal mail.