Which of the Following Is the BEST Example of a Private

question 31

Multiple Choice

Which of the following is the BEST example of a private good?

• A) National defence
• B) Fish in the ocean
• C) Cable television
• D) A can of Mountain Dew

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Definitions:

Product Positioning

The process of establishing and maintaining a certain image or impression of a product or brand in the minds of the target market.

Price-Based Promotions

Marketing tactics that focus on temporarily reducing the price of products or services to increase demand and sales volume.

Penetration Pricing

A pricing strategy where the price of a product is initially set low to rapidly reach a wide fraction of the market and stimulate growth.

Price Sensitivity

The degree to which the price of a product affects consumers' buying behaviors or the demand for the product.