You've Just Been Named the Head of Marketing for a Major

question 53

Multiple Choice

You've just been named the head of marketing for a major children's clothing retailer so you're evaluating the company's e-commerce website. You notice that the navigation menu provides links to pages of clothes for infants, toddlers, and several size ranges for older children. Each of these pages offers anywhere from 45 to 70 items for sale. The first thing you decide to change to improve the user experience on your site is to:

• A) feature more and larger detail photos.
• B) write an engaging story for each product.
• C) add a search bar.
• D) include customer reviews.

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Definitions:

Allocative Efficiency

A scenario in resource distribution where making one individual's condition better inevitably leads to worsening another's.

Economic Profit

The difference between a firm's total revenues and its total economic costs, including both explicit and implicit costs.

Diagram (A)

A graphical representation or chart designed to illustrate or explain concepts, processes, or data.

Allocative Inefficiency

A situation in which resources are not distributed optimally among producers or consumers, leading to a loss in economic efficiency.