Retailers Use ________ to Communicate with or Sell to Consumers

question 53

Multiple Choice

Retailers use ________ to communicate with or sell to consumers through wireless handheld devices.

• A)virtual media
• B)mobile commerce
• C)cooperative advertising
• D)share of wallet tactics
• E)social media advertising

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Definitions:

Indifference Curves

Graphical representations showing combinations of goods or services that provide the same level of satisfaction to a consumer.

Ordinary Goods

In a consumer’s utility function, those for which additional units of one good are required to compensate for fewer units of another, and vice versa; and for which the consumer experiences a diminishing marginal rate of substitution when substituting one good in place of another.

Marginal Rate

The rate at which one variable changes over the change in another variable, often used in the context of taxes or marginal rate of substitution in economics.

Substitution

The economic concept whereby consumers replace costlier items with less expensive alternatives, or firms switch between inputs to minimize costs.