Examlex
Just Read,an online retailer of books,encourages users to write reviews of the books which they purchase and rate them.This allows potential customers to know more about the books offered for sale.In this example,Just Read uses which of the following strategies?
Elastic Demand
A situation where the quantity demanded of a good or service changes significantly due to a change in its price.
Marginal Revenue Curve
A curve that shows the change in total revenue resulting from selling one additional unit of a product or service.
Standardized Product
Products that are uniform in quality and features, offering no significant difference from the same products offered by other sellers.
Differentiated Product
A product that is distinct from similar products offered by competitors, often through quality, features, or branding.
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