Firms Utilize ________ When They Attempt to Add Value to Their

question 331

Multiple Choice

Firms utilize ________ when they attempt to add value to their product by offering service after the sale, product demonstrations, or interactive customer websites.

• A) nonprice competition
• B) relationship branding
• C) niche marketing
• D) break-even segmentation

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Definitions:

Exchange Rates

The value of one currency expressed in terms of another currency, which determines how much foreign currency can be exchanged for a unit of domestic currency.

Gold Convertibility

The ability to convert a currency directly into gold, a system which provides a measure of security and confidence in a currency's value.

Managed Float

A currency exchange rate policy where a country's central bank intervenes occasionally to change the direction or the pace of change of a currency's value, without specific target levels.

Exchange Rate System

The mechanism through which the value of a country's currency is tied to another currency, a basket of other currencies, or as floating, determined by the forex market.