Bright Inc

question 30

Multiple Choice

Bright Inc. is a toothpaste manufacturing company that is facing intense competition from its rivals. In order to encourage higher consumption of its products as well as minimize brand switching among its existing consumers, Bright introduced sweepstakes as a consumer sales promotion strategy. However, its rivals retaliated by introducing deals such as a discounted price bonus size offers, and buy one, get one free offers. This scenario best illustrates a ________.

• A)primary industry
• B)secondary industry
• C)fragmented industry
• D)concentrated industry

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Definitions:

Socially Efficient

A situation in which resources are allocated in a way that maximizes the welfare of society as a whole.

Price Discriminating

A pricing strategy that involves charging different prices for the same product or service to different customers, based on what the seller believes each customer can afford or is willing to pay.

Large Quantity

Refers to a significantly high volume of goods or products, often associated with bulk buying or production.

Monopoly

A monopoly exists when a single company or entity has exclusive control over a particular market or product, allowing it to set prices without competition.