Before the Release of the Newest IPhone by Apple Inc

question 175

Multiple Choice

Before the release of the newest iPhone by Apple Inc., an Apple juice brand used an actor dressed up like an apple to hold a sign encouraging those waiting in line to try its juice. The brand thought this would be a creative event that would spark an interest in Apple iPhone fans as they stood waiting in line with little else to do. This is an example of

• A) buzz marketing.
• B) viral marketing.
• C) electronic marketing.
• D) sales promotion.
• E) product placement.

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Definitions:

Marginal Utility

The additional satisfaction or utility that a consumer derives from consuming an additional unit of a good or service.

Price of Apple

The cost at which an apple, as a fruit or as a company's stock (Apple Inc.), can be purchased, depending on context.

Price of Orange

Refers to the cost to purchase a single unit or a specified amount of oranges in a given market.

Substitution Effect

The economic principle that as prices rise or income decreases, consumers replace more expensive items with less costly alternatives.