The Set of Activities Through Which a Product or Service

question 6

Multiple Choice

The set of activities through which a product or service is created and delivered to customers is known as a(n) _____.

• A) marketing plan
• B) value chain
• C) inventory turnover
• D) strategic position
• E) pure play

---

Definitions:

Price Elasticity

A measure of how much the quantity demanded of a good responds to a change in its price, indicating the sensitivity of demand to price changes.

Most Elastic

Refers to the responsiveness of demand or supply to changes in price or income, with "most elastic" indicating the greatest sensitivity.

Quantity Demanded

The sum total of a service or good that individuals are interested in buying and can afford at an established price.

Price

The monetary contribution expected, required, or made for acquiring something.