Customers Must See Value in a Product or Service Before

question 69

Multiple Choice

Customers must see value in a product or service before they are willing to exchange time or money to obtain it, but not all customers see the same value in a product. To analyze how many units will be sold at any given price point, marketers draw on

• A)a demand curve.
• B)the law of averages.
• C)multiple regression analyses.
• D)economies of scale.
• E)a sales orientation.

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Definitions:

Call Option

An agreement that grants the purchaser the flexibility, without the necessity, to acquire a stock, bond, commodity, or different asset at an agreed price during a definite timeframe.

Fixed Price

A specific price point that does not change over time, often set for products, services, or agreements.

Asset

An economic resource owned or controlled by an individual or company, expected to produce future benefits.

Strike Price

The specified price at which an options contract can be executed, determining the buying or selling price of the underlying asset.