Refer to the Scenario Below to Answer the Questions That

question 74

Multiple Choice

Refer to the scenario below to answer the questions that follow.
Bob and Larry have taken their fly fishing equipment and accessory business,Flies-R-Us,to the Internet because they want to expand their business.However,they don't have much money to use conventional media to drive traffic to their site.
-To improve brand awareness,Bob and Larry hired a media-relations specialist in hopes of getting coverage for Flies-R-Us in the media.The media-relations specialist wrote a feature story profiling Bob and Larry and their fly fishing equipment and then sent that story to her contacts at newspapers and special interest magazines.The article was picked up by Field & Stream,the popular sportsman magazine.By running the article,Field & Stream most likely provided Flies-R-Us with ________.

• A)word-of-mouth
• B)viral communication
• C)an implied third-party endorsement
• D)an opt-in strategy
• E)a customer referral

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Definitions:

Diminishing

A principle indicating that as more of a good or service is consumed, the marginal benefit to the consumer decreases.

Behavioral Economics

A field of economic research that examines the effects of psychological, cognitive, emotional, cultural, and social factors on economic decisions.

Rational

In economics, refers to individuals making decisions that will provide them with the greatest benefit or satisfaction given their limited resources.

Budget Constraints

The limitations on a consumer's ability to purchase goods and services based on their income and the prices of goods and services.