Suppose the Benchmark Competitive Product Has a Price of $300,costs

question 26

Multiple Choice

Suppose the benchmark competitive product has a price of $300,costs $200 to install,and averages $500 in usage and maintenance costs.Your product is priced at $400,costs $100 to install,and averages $400 in usage and maintenance costs.In this situation,the economic value of your product over the benchmark competitive product is ________.

• A)-$200
• B)-$100
• C)$0
• D)$100
• E)$200

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Definitions:

Marketing Methods

Strategies and techniques used to promote, sell, and distribute a product or service to consumers.

Cold Calls

A sales technique involving unsolicited calls or visits to potential customers who have not previously expressed interest in the offered product or service.

Direct Mail

A marketing strategy that involves sending promotional materials or advertisements directly to potential customers through postal mail.

Qualified Prospects

Potential customers who have been evaluated and found to have a high likelihood of needing and purchasing a product or service.