In the Circular-Flow Diagram

question 224

Multiple Choice

In the circular-flow diagram,

• A)factors of production flow from government to firms.
• B)goods and services flow from households to firms.
• C)income paid to the factors of production flows from firms to households.
• D)spending on goods and services flows from firms to households.

Identify and describe the principles of gestalt psychology and its application in consumer behavior.

Define and exemplify the process of market segmentation and consumer profiling.

Explain the concept of repositioning and its importance in marketing.

Understand the role of symbolic and functional attributes in brand perception.

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Definitions:

Innovative Change

Alterations within an organization that introduce new methods, ideas, or products to improve efficiency, productivity, or competitive advantage.

Disruptive Change

Significant alteration that drastically impacts the way a sector operates, often leading to the creation of new markets and the decline or transformation of existing ones.

Unplanned Change

Modifications or adjustments that occur without forethought or intention, often in response to immediate circumstances or emergencies.

Bottom-Up Change

Change initiatives come from all levels in the organisation.